Bringing Mobile Personal Loans to Mexico | Roberto Salcedo Nieto

Seedstars Global

03/03/2020 11h55

The Seedstars Mexico City winner is helping Mexicans by providing personal microloans to people without a credit history. At Baubap this is done by assessing someone’s likelihood of paying back the loan by using cell phone data. The company starts by building a credit history with their customers- everyone starts off with a $25 USD loan as a first-time borrower. Roberto started out working on the issues of financial literacy in Mexico as an employee at HSBC more than a decade ago. In the meantime he’s worked at a local Mexican bank and was the CFO of a media company. This is also where he met his co-founder. Actually, their founding story started out with a juicy little detail: Roberto fired his co-founder. To understand how this was the foundation for the launch of a successful fintech startup, explore the metrics their machine learning algorithm looks at, learn how important concerns with data privacy are, and hear life lessons and book recommendations, listen to this episode!

Roberto recommends reading Tara Westover: Educated, Jack Weatherford: Genghis Khan and the Making of the Modern World

The podcast is also available in the video format:

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