Financiera Efectiva places over $300,000 in micro loans through a chatbot


August 23, 2018

Three months after its launch, Financiera Efectiva’s chatbot, which was created to enable client access to loans quickly and from any mobile device, has originated loans for over one million Peruvian soles (approx. 300,000 USD) through CrediEfectiva’s presence in Facebook.

According to Gian Carlo Villanueva, Business Transformation Manager at Financiera Efectiva, “the average ticket for approved loans is 2,800 Peruvian soles (approx. 850 USD), the median term for payment in monthly installments is 12 months, and we plan to place over ten million Peruvian soles (approx. 3 million USD) in loans through this virtual channel by year end.”

Financiera Efectiva highlights that 85% of the loans granted through the chatbot had unrestricted use and 15% were used to finance the purchase of home appliances and motorcycles. The clients were 57% male and 43% female, with an average age of 26 years.

“Financiera Efectiva is the first company in the market to use artificial intelligence to satisfy the financial needs of Peruvian families in an automatic and immediate fashion,” affirmed Mr. Villanueva.

Financiera Efectiva has a track record of over 18 years in the industry and is part of Grupo Efe, which is also comprised by retailers EFE, La Curacao and Motocorp. Financiera Efectiva is the third largest facilitator of first-time access to banking services in the country.

The credit evaluation platform may be accessed through CrediEfectiva’s Facebook page.

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