Pismo has loaned a tool in response to increased demand for digital banking in Brazil.
Faisal Khan, the FinTech company’s head of lending, claimed on Tuesday in a blog post that “financial institutions have gotten accustomed to picking from a number of ‘Lending-in-a-Box’ solutions, which must be inserted into their present infrastructure” (March 7).
“This can require a significant amount of time and effort. To finish the process using Pismo, simply connect our APIs.”
The platform’s main purpose is to provide “efficient digital-first loans to alter how money is distributed,” according to Khan.
The COVID outbreak hastened a transition that has been in the works for a while. According to studies, approximately 75% of consumers have now opened new accounts through digital channels, for instance, unlocking the door to a lifetime as a digital client.
Smartphone applications are the most prevalent banking method of choice, utilised by 45% of users, albeit this figure has rocketed up among younger generations.
A crucial tool for delivering the cutting-edge digital experiences these clients expect is banking as a service (BaaS). It involves banks allowing non-bank businesses to offer banking services to clients.
