Banco do Brasil, one of the country’s largest financial institutions, has promised to make credit operations more transparent to the consumer. The news pleased many people, especially those who had borrowed and are still paying the installments.
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The idea is to allow Credit portability From other banks directly through the application. Using the data obtained through Open Finance, the data sharing system, the customer will be able to compare the terms offered by each bank and choose the most advantageous one.
Credit portability is nothing more than the transfer of a loan from one financial institution to another, usually with the aim of benefiting from better conditions or lower rates. The information was sent by BB to Broadcast / Estadao.
The customer using the Banco do Brasil application will not need to search for the institution to check if it has better conditions. It will not even be superfluous to go to the bank where the loan agreement was drawn up before carrying out the portability.
The only requirement is to allow your data to be shared so that the BB can perform the query. This information will be used subject to the provisions of the General Data Protection Regulation.
When accessing the service, a comparison of the conditions offered by the two institutions can be seen, making it easier for the consumer to choose. With everything being able to be solved by cell phone, the process is faster, easier, and more personalized.
All this digitally and using the infrastructure of open finance. This is another solution that embodies the benefits of customers joining Open Finance, ”says Marisa Righini, Vice President of Technology and Digital Business at BB.
Customers interested in implementing credit portability must allow their data to be shared with BB through the Enterprise Application. It is possible to choose some details before the simulation, such as the credit limit and the due date of the first installment.
The feature has not yet reached all users, but it is in the testing phase with some people. The solution is expected to be extended to the full portfolio of account holders in the coming weeks.
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