The famous Fintechs are already working at full steam, with great proposals for a true revolution in the user experience, in a sector that still has high rates of complaints due to slow procedures and high service fees. However, this race is not only being fought by Fintechs. The banks themselves are starting to move and understand that some types of practices should be left in the past, such as interactive digital limitations and the confinement of some processes with exclusive resolution in branches, for example.
MARKET MOVEMENT
For those who believe that this market is still in its infancy, research on its advances already points to a high level of growth and expectations for the coming years. According to a email list providers in germany carried out by Fintechlab, some of the segments of activity mapped are Payment Methods, Insurance (better known as Insurtechs), Funding, Loans and Financial Management.
In recent years, this market has already received investments of more than R$1 billion reais and, of the 200 Brazilian companies in this sector recognized by the survey, some of them already exceed R$1 million reais in revenue.
The consumer certainly has everything to gain from this and can already see some successful cases such as Nubank, Moip and GuiaBolso.
This is a research full of details for those who want to know much more about this new business scenario, so we will leave the link here for you to check out more: Click here
NEWS ATTRACT FRAUDSTERS
One point of attention, also very important, mentioned in this research, is how much the increase in these online services, which are still in the experimentation phase of work models, can multiply channels for fraudulent attacks. Brazil is one of the riskiest countries in the world for online purchases/transactions (as shown by the latest studies by ClearSale's Fraud Map (download link), so it never hurts to be safe.
With a tight budget and a proposal for extreme agility in their processes, to prevent fraud, Fintechs generally use several analytical models and order analysis automation technologies to speed up decisions with the highest possible assertiveness rate. Combined with this idea, Scores based on Machine Learning (Artificial Intelligence), Behavior Analytics and consumer behavior in online transactions are a major bet by ClearSale, which has been working daily, together with the Fintechs themselves, on a project fully adapted to the reality of this market.
"The union of companies that were born in the digital world, ClearSale and Fintechs, has everything to be successful. We have 85% of the e-commerce market share in Brazil and a unique base with 98% of all CPFs used in this market, which is more than enough market intelligence, to fight this battle with Fintechs against fraudsters and protect the good consumer” highlights our Product Manager for the financial sector, Eduardo Date.