Colombian entrepreneurs create apps to improve the credit life of Colombians

Made in Colombia with the best global technology by Colombian entrepreneurs, SoyYo App is a FinTech entrepreneurship initiative that will provide the credit score safely and reliably to users looking to know their debt capacity instantly.

This application is a simple tool that allows Colombians to make better financial decisions, supported by the banking sector and its three largest agents, namely Davivienda, Bancolombia and Banco de Bogotá, which, in addition to creating and validating their digital identity, allows you to check your credit score low the partnership with TransUnion.

To obtain this data, users will have to download the application, enter their personal data, where an SMS validation will be carried out to the cell phone, a selfie will be asked to verify their identity, as well as a photo of their ID; and finally once the information has been verified, which is requested to ensure that the user is who claims to be for reasons of security and privacy of information, the registration will be confirmed so that the Digital Identity can begin to be used and proceed to download its credit reports in a matter of minutes.

“Constantly monitoring credit scores is a habit that people should do more often than they think and this service is key, as it can have a better impact on access, interest, term and amounts when applying for credit. In addition, users will be able to learn suggestions that will allow them to improve that score,” explained Santiago Aldana, CEO of SoyYo App in statements to INFOBAE COLOMBIA.

Additionally, with this digital identity provided by the application, users will make secure transactions and payments; verify someone else's identity to avoid fraud; access services and procedures from their mobile phones; store private documents in one place; control who they share their information with and manage their documents with electronic signature.

“Currently, for different procedures, one has to do the process with each of the entities, handle different keys and processes that make the situation chaotic, while security problems grow. For this reason, SoyYo seeks that people through their cell phones can have control of their identity and the information that allows them to verify who I am before an entity or company, with state-of-the-art technological tools, such as biometric recognition, for data protection. Making processes simple and have encryption mechanisms in place,” said Aldana.

The application is a pioneer in the country in the midst of the development of FinTech. Its developers assure that for individuals SoyYo does not represent any cost in the use of their services or download and within the application environment you will be able to use different functionalities free of charge. However, for legal entities or SMEs, there is a voluntary cost for management.

For now, in less than two months of launch, more than 120,000 users are already part of the app and its creators expect thousands more to benefit from it by the end of the year.

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