In Mexico there is a huge need for banking services. It is one of the most unbanked economies in the world as most consumers stay in the cash-based informal economy. But as the fintech ecosystem develops, there are compelling reasons for people to join the formal economy, and Kueski is at the heart of those efforts.
Our next guest on the Fintech One-on-One podcast is Adal Flores, the CEO and Co-Founder of Kueski. They have been doing consumer loans for many years but their BNPL product Kueski Pay, is starting to get serious traction as Kueski is looking to build a complete financial ecosystem.
In this podcast you will learn:
- The story behind the founding of Kueski.
- How the company has evolved since they started in 2013.
- How they encourage people to move away from the cash economy.
- What is behind the growth of BNPL in Mexico.
- How they underwrite people who are only using cash.
- Details of their small pilot with physical stores for BNPL.
- Why they are building a financial ecosystem.
- Why the growth of BNPL in Mexico is very different to the USA, Australia of Europe.
- How the Mexican regulators view fintech innovations like BNPL.
- Why CoDi, the digital payments system, has not taken off in Mexico.
- The scale they are at today.
- Adal's vision for bringing more people into the formal economy.
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