HES Key Customer Expands to Brazil

ID Finance, an innovative online lender and one of HES’s key customers, has launched its service in Brazil.
The push into Latin America is part of ID Finance’s ongoing strategy of expansion and a natural progression for a rapidly growing business that already operates in Russia, Kazakhstan, Georgia, Spain, and Poland. The company is also looking to start operation in Mexico, Colombia, and Peru.

Commenting on the news of expansion, Boris Batin, the co-founder of ID Finance, said: “There are many countries in Latin America with the quickly-evolving online lending environment where we see a lot potential demand for our products. By launching an online lending service in Brazil we are aspiring to create a business hub and start operating across several Latin-American countries. The region has a large population and its Internet penetration rate is surging. What is more, it is geographically close to the USA, which gives us the opportunity to access the US market.

Alexander Dunaev, the other co-founder of ID Finance, added: “In today’s world of technology and connectivity, running a business in only one country is an increasingly outdated and insecure practice. It makes no sense to hope that import substitution will provide economic prosperity, but it does make sense to be engaged in export activities. We have always thought of ID Finance as an international business and have worked to achieve this objective with the right infrastructure and technology platform along with a coherent expansion strategy. A key advantage of ID Finance is its own model of data analysis and assessment of credit that has proven effective in Spain, Russia, Kazakhstan, Georgia and Poland. We also owe much of our success to HES who have been our technology partner from the start.

ID Finance, which is aiming to strengthen its presence in the global market, would fill up the gaps in its current offerings besides launching new products and services.

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