We are currently experiencing an interesting phenomenon. Major mobile and telephony platforms have adopted the intelligent strategy of integrating financial services into their original offerings, creating a more complete experience for their customers.
All services can be accessed through a single app. Thus, in the spain mobile database app, the customer can pay their bills, make money transfers and even apply for a loan. Everything has become much simpler and faster.
This innovative initiative, as expected, had a huge impact on consumers' expectations regarding financial services, as the convenience of having everything integrated into a single app and the centralization of services increased access to credit and made their routine much simpler.
The evolution of credit: from exclusive to accessible
It wasn't that long ago that credit was limited to individuals and legal entities with a solid financial history, and offered only by traditional banks.
Now, however, a much larger portion of the population has access to credit, and this has a lot to do with the popularization of digital wallets, which have brought more convenience and practicality to the process. Today, applying for credit is much simpler and less bureaucratic than it was a few years ago.
This convenience is mainly due to the lower entry barriers. Nowadays, there is no longer a need to have a bank account and an established financial history to obtain credit. Everything is done with less bureaucracy and approval is easier.