Wikiplata

Wikiplata was born to revolutionize the financial sector in Colombia. Wikiplata’s goal was to become the enabler for online loan applications. With the new solution to verify a person’s income and employer (with the authorization of the worker and using data from social security) we’ve reached 5 million electronic queries. There are 30 financial entities that are connected to our service—more than 10 banks, including the 3 biggest ones that constitute around 70% of all the population that has a bank account in Colombia—Bancolombia, Davivienda, and Banco de Bogotá. Last week, we participated in the Latin American Digital Banking Innovation in Financial Services competition and won the 1st price, competing with the biggest banks in Colombia. Now that we've invented a business model and it has become the standard for financial entities, we want to have a greater impact in the financial sector: include more people and companies in the financial sector through the use of alternative sources of data. Through the use of analytics, we are exploring the value of the data that we have to include in the risk assessment of people and businesses. We have advance projects with banks and new financial entities and believe that by the end of this year, they'll start using it. We are excited to tell you more about us!