Lending as a Service (LaaS): Transforming the Future of the Economy in LATAM

In the digital age, over 270 million adults are unbanked, and SMEs face loan rejection rates exceeding 60%. Technological innovations are reshaping the financial industry, facilitating more inclusive access to financial services. In this context, AltScore emerges, a fintech company that offers Lending as a Service (LaaS). This company assists others in digitizing their entire credit process, from onboarding to automated renewals. Thanks to AltScore, well-known companies like Coca Cola and Grupo Arcor have experienced a sales increase of up to 32%.

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What is Lending as a Service (LaaS)?

LaaS allows fintechs like AltScore to directly connect businesses with credit applicants. This model eliminates banking intermediaries and brings transparency to the process, surpassing the traditional credit model.

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How AltScore's LaaS Works:

AltScore digitizes all credit processes using APIs that employ alternative data and cutting-edge technology. Applicants manage their credit online, and AltScore evaluates the information to determine their eligibility. The modules include:

• Onboarding: Digitally gathers information and documentation, following KYC and KYB processes.
• Underwriting: Conducts banking analysis and provides robust scoring, leveraging alternative data.
• Loan Disbursement: Optimizes the disbursement process, eliminating delays.
• Loan Management: Actively monitors the credit portfolio and its details.
• Smart Collections and Repayments: Automates and digitizes your repayment and collection processes.
• Renovation & Behavior: Retains customers through renewals and adjustable terms.
• Capital as a Service: Offers credit without having to use your own resources, leveraging external capital.

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Benefits of AltScore's LaaS:

• Increase in Sales: A revenue increase of up to 30% has been recorded for AltScore clients.
• Agile Approvals: Credit decisions can be made in just 30 seconds, increasing approval rates by up to 32%.
• Reduction in Default: AltScore has managed to reduce default rates by up to 21%.

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“With AltScore, we found a partner to build products. [...] For Kalto, it's like adding to our team a group of people who are experts in credit operations eager to create alternative solutions to those existing in the market.” - Joel CPO & Cofounder at Kalto

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The Future of LaaS:

LaaS has the potential to revolutionize the financial industry. AltScore facilitates loan access, empowering individuals and SMEs in LATAM.

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