RappiPay and uFlow partnered to implement Decision Engines that automate RappiPay’s credit assessment processes and allow users to more efficiently and quickly access their RappiCard credit card.
Some of the benefits of this product are: have no handling fee, allow 1% cashback on each purchase, or return up to 5% of purchases when purchasing flights, hotel reservations or renting cars directly on the ‘Rappi Travel’ button within the application from Rappi.
Laura Apicella, CRO (Chief Risk Officer) of RappiPay, pointed out that they found in uFlow an ally that allowed them to rapidly implement a risk assessment engine, adapting to the needs of advancing quickly, maintaining the transparency and security that the business requires. .
“Having implemented this decision engine allowed us to more quickly develop new product functionality. Additionally, having constant technical support further accelerated the integration and provides us with the required advice from the beginning that allows us to make the evaluation processes more efficient, added to the peace of mind of having a response to any need in real time”, added Apicella .
This decision engine is 100% cloud and uses the services of AWS (Amazon Web Services) to allow the risk and credit teams of any financial institution, be they banks, neobanks, fintechs or retailers, to make changes in the rules or models. that automate the granting of loans to individuals and companies.
They added that with it, the data of each user can also be analyzed in a thousandth of a second within the credit bureaus, implement risk policies in an agile and No-Code manner, integrate with alternative data providers and implement Artificial Intelligence models. .
“The engine also provides great stability that ensures business continuity, enables decision-making based on information, it unifies approval and rejection criteria, offers great agility in response times, allows the automation and efficiency of the credit decision-making process, generating a considerable increase in sales. On the other hand, it allows the development and self-management of policies without depending on the IT area, optimizing operations by adding analysis capabilities, rules, models, and data sources”, they assured.
RappiPay is already active in all Latin American markets and has more than 800,000 users that they expect to double next yeartaking into account that they have digital tools to bet on new financial products with the ease, transparency, security, benefits and personalized attention that has already characterized them in the market.
Mariano Sokal, founder and managing director of uFlow, highlights that being together with one of the great players in the Fintech sector fills them with pride, since they can fulfill their main purpose of implementing solutions that make it easier for people to access the financial market.
“Although our technology service can be seen behind the scenes in different companies within the financial ecosystem, we know that streamlining and automating decision-making, incorporating multiple data sources, and allowing financial institutions to have easier access to the As much information as possible about the people or companies that apply for credit is an opportunity to improve access to credit, by automating decision-making, and avoiding error and human subjectivity”, highlighted the manager.