Kueski Overview
Kueski is a pioneering fintech company based in Mexico, dedicated to providing innovative and inclusive financial products to a broad segment of the population, particularly those in the informal economy or lacking traditional banking services.
What Kueski Does
Kueski offers a range of financial products designed to bridge the gap between the cash-based economy and the formal banking system in Mexico. Here are the primary products and services:
Kueski Cash
This is Kueski’s initial product, a personal lending solution that provides quick and accessible loans. It leverages advanced algorithms and big data to assess creditworthiness, often extending credit to individuals who would be excluded by traditional banking criteria.
Kueski Pay
Kueski Pay is a Buy Now, Pay Later (BNPL) solution that allows consumers to make online purchases without needing a credit card. Users can receive their purchases immediately and pay for them in fortnightly installments, choosing a credit duration and customizing their interest rates. This product integrates with partner-store networks, enabling unbanked and underbanked consumers to access e-commerce seamlessly.
Kueski Up
The latest addition to Kueski’s portfolio, Kueski Up offers salary advances, further expanding the company’s financial inclusion efforts by providing immediate access to funds based on upcoming salaries.
Key Features and Functionality
Innovative Credit Scoring
Kueski uses cutting-edge algorithms and artificial intelligence to analyze vast amounts of data, including social media profiles, transaction history, and other unconventional data points. This approach enables accurate credit scoring and extends credit facilities to a broader segment of the population, especially those without traditional credit histories.
Speed and Efficiency
Kueski’s platform is designed for speed, allowing borrowers to receive loan decisions within minutes, significantly reducing the time and complexity associated with traditional lending processes. This rapid processing is crucial for urgent financial needs and emergencies.
Transparency and Flexibility
Kueski prioritizes transparency, ensuring clear communication with customers about loan terms, interest rates, and repayment schedules. There are no hidden fees or surprise charges, and borrowers have the flexibility to choose repayment plans that align with their financial capabilities.
Data-Driven Insights
The more customers engage with Kueski’s products, the more data the company collects. This data is used to offer credit facilities and other financial products on more favorable terms over time. Kueski also uses this data to help brick-and-mortar retailers determine which products to sell online, fostering a more inclusive and robust e-commerce landscape.
Integration with Existing Habits
Kueski has strategically partnered with popular convenience stores like Oxxo, allowing consumers to pay for online purchases in cash, aligning with the prevalent cash-based economy in Mexico. This integration makes online commerce more accessible to a wider audience.
Conclusion
In summary, Kueski’s products are designed to be user-friendly, efficient, and inclusive, leveraging advanced technology and data analytics to provide financial services that cater to the unique needs of the Mexican market and beyond.