Credifiel was based in 2005 as one of many pioneers in payroll lending and since then has grown to be the High 3 payroll mortgage supplier in Mexico by increasing throughout smaller cities the place banks don’t have branches and other people lack entry to credit score regardless that they match the borrower profile.
Credifiel’s clients are staff of presidency companies and federal states. Public sector jobs, which are largely unionized, thus have a really low worker turnover, thus guaranteeing larger mortgage compensation charges. As inherent safety, the mortgage repayments are deducted straight from the worker’s payroll. To verify their shoppers are creditworthy, Credifiel has a staff of consultants in safety evaluation that features not solely common monetary checkups but in addition particulars reminiscent of signature evaluation and biometric identification with a view to keep away from potential id fraud.
The safety of Credifiel’s funding alternatives consists of a direct mortgage project complemented by an additional layer of pledges over loans listed on Mintos, that are established to safe investor claims. There may be additionally a third-party belief supplier securing the money flows, and Mintos is the primary beneficiary of the repayments coming from explicit mortgage agreements.
Traditionally the corporate has originated greater than 650 000 loans for a complete quantity of round €817 million. The corporate’s sustainability is predicated on a powerful company governance, accountable lending, monetary inclusion and social accountability as our credit are targeted primarily on individuals who don’t have any entry to banking companies. The corporate has been worthwhile yearly since its funding in 2007.
