Edna Armendáriz, Representative of the IDB Group in Paraguay, announced the signing of an agreement between IDB Lab and Prester, a “Fintech startup” of 100% online loans from Paraguay, to expand credit access and facilitate the construction of the credit history of 24,000 people in the next 5 years.
Bruno Duarte, CEO of Prester expressed the desire to improve the quality of life of customers through loans in the APP, be the path for those segments of the population that are excluded and at the same time can build a credit history towards formality. Credit will be prioritized to women, informal workers, and rural area population. The agreement will allow financing of up to US$ 500,000.
Prester uses an alternative credit scoring to offer loan lines of up to 15 million guaraníes in a term of up to 12 months.
This innovative approach based on a detailed analysis of sociodemographic data, including educational level, housing characteristics, and online payment behavior, allows making responsible and inclusive credit decisions.
Excellent collaborative work of the BIDLab and Prester teams to make this agreement a reality to promote financial inclusion.