{"id":1712,"date":"2015-12-06T11:45:59","date_gmt":"2015-12-06T16:45:59","guid":{"rendered":"https:\/\/digital.hbs.edu\/platform-rctom\/submission\/kueski-creditos-rapidos-a-un-click-the-new-age-of-lending\/"},"modified":"2015-12-06T18:14:42","modified_gmt":"2015-12-06T23:14:42","slug":"fintech-in-latin-america-the-new-age-of-lending-with-kueski","status":"publish","type":"hck-submission","link":"https:\/\/d3.harvard.edu\/platform-rctom\/submission\/fintech-in-latin-america-the-new-age-of-lending-with-kueski\/","title":{"rendered":"FinTech in Latin America: The New Age of Lending with Kueski"},"content":{"rendered":"

“Banco!? Que es?”\u00a0Gone are the days when\u00a0you need to leave the comfort of your home\u00a0to secure a loan. With just one click, Kueski, an innovative new startup, allows Mexicans to secure micro consumer lending within minutes. And as if that wasn’t enough, Kueski is doing this\u00a0while also successfully aligning its business and operating models!<\/p>\n

Why is Kueski so good at what it does? Kueski is an online platform that has taken the Mexican financial services sector by storm. Its mission is to disrupt banks, reshaping how Mexicans (and in the future, Latin Americans) think about obtaining credit. With more than 50 employees, the Company which has raised millions of dollars from Silicon Valley venture capitalists\u00a0has experienced record growth of loan origination and shows no sign of slowing down. This record growth is due to the relentless pursuit to\u00a0iterate, iterate, and iterate twice more until its\u00a0operating model reaches perfection.<\/p>\n

So here’s a quick overview of Kueski’s business model:<\/p>\n

\"Online<\/a><\/p>\n

 <\/p>\n

Kueski’s loan process is quick and simple. It’s top-of-the line automation process and sophisticated credit models make the user experience extremely satisfying.<\/p>\n

Here’s a Kueski team member talking about the Apply\u00a0and Approval processes defined\u00a0above:<\/p>\n

 <\/p>\n

https:\/\/youtu.be\/FSEpgtxSO_I<\/a><\/p>\n

Source: Kueski’s YouTube page; subtitles added by author of this post)<\/em><\/p>\n

Here’s what I like about the operating model:<\/p>\n

1. Best-in-Class Technology:<\/strong> Kueski’s online platform is powered by a very sophisticated algorithm that does a better job assessing consumers creditworthiness than traditional banks! Its credit scoring technology is unique in that it analyzes traditional credit bureau factors in addition to information pulled from social media accounts. As a result of this improved credit scoring model, Kueski is able to secure lower default rates than traditional banks.<\/p>\n

2. Low Cost Structure:<\/strong> The Company’s model is extremely asset-lite. Kueski does not have branches because all loans are made on-line. It also does not need to hire loan officers or large staff because all loans are automatically approved \/ denied by its highly-sophisticated computer model. Most of its workforce consists of engineers and customer service \/ collections. As a result,\u00a0it has a lower cost base and is able to use these cost savings to offer lower interest rates to consumers.<\/p>\n

3. Customer Acquisition:<\/strong> Kueski\u00a0believes in an omni-channel approach and allows customers to secure lending either from a desktop or from mobile devices. Also, the Company uses a combination of both inbound and outbound marketing to target its consumer market. Its website, Facebook page, and Youtube page, provide great tips for consumers looking for general finance advice. So, even before a consumer knows that it wants a loan, they have already built a relationship with Kueski and this increases the chances that they will return to the website when they need financing.<\/p>\n

It’s impressive that a company as young as Kueski is focused on aligning its business and operating models to create maximum value for its customers. Because of this alignment, Kueski is well on its way to changing the face of finance in Mexico and indeed Latin America.<\/p>\n

Check out the website and let me know your thoughts… it only takes one click!<\/p>\n

 <\/p>\n

Source: Company website and conversations with industry experts; as of December 6, 2015\u00a0<\/em><\/p>\n

Disclaimer:\u00a0The author of this\u00a0blog post\u00a0will not be liable for any losses, injuries, or damages from the display or use of this information. This blog post is for informational \/ discussion purposes only and makes no representations as to the accuracy or completeness of any information found by following any link on this site. This blog post solely expresses the author’s views and not that of Kueski, its employees, management, nor shareholders.\u00a0<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Fintech has arrived in Latin America! Kueski is well on its way to revitalizing how consumer loans are made in Meixco and the rest of Latin America. Best-in-class technology and smart credit practices help Kueski offer fast, quality loans online. <\/p>\n","protected":false},"author":1164,"featured_media":1935,"comment_status":"open","ping_status":"closed","template":"","categories":[342,88,264,259,339,13,340,260,341,396,212],"class_list":["post-1712","hck-submission","type-hck-submission","status-publish","has-post-thumbnail","hentry","category-consumer-lending","category-emerging-market","category-finance","category-fintech","category-kueski","category-latin-america","category-lending","category-marketplace-lending","category-mexico","category-online-lending","category-tech"],"connected_submission_link":"https:\/\/d3.harvard.edu\/platform-rctom\/assignment\/the-tom-challenge-tom-winners-and-losers-assignment\/","yoast_head":"\nFinTech in Latin America: The New Age of Lending with Kueski - Technology and Operations Management<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/d3.harvard.edu\/platform-rctom\/submission\/fintech-in-latin-america-the-new-age-of-lending-with-kueski\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"FinTech in Latin America: The New Age of Lending with Kueski - Technology and Operations Management\" \/>\n<meta property=\"og:description\" content=\"Fintech has arrived in Latin America! 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