![\"\"](\"https:\/\/cfi.co\/awards\/wp-content\/uploads\/2017\/02\/BankFacil.jpg\")
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BankF\u00e1cil is not just an online lending start-up; it is a moderniser of Brazil\u2019s notoriously tedious lending process and a digital underwriting platform that acts as correspondent bank to facilitate the loans hiring process.<\/strong><\/p>\n So far, more than R$100 million (\u20ac23.9m) has been borrowed from BankF\u00e1cil. The company\u2019s rapid rise to success is easily attributed to its dipping into the previously untapped market of secured consumer loans combined with a dependable risk-assessment platform.<\/p>\n Due to the out-dated and timeconsuming processes most Brazilian banks use, loans carry on average eight to nine times the interest had the customer been able use assets such as cars or homes as collateral. The current offers in terms of asset-secured personal loans is either not openly advertised or difficult to secure.<\/p>\n By creating a large volume of asset-secured loans and offering them at far lower interest rates, BankF\u00e1cil has been able to capture a large clientele and enjoy massive growth. With a focus on providing clear information, transparency, and offering sensibly structured loans \u2013 as well as a more recent foray into credit cards \u2013 BankF\u00e1cil is a digital start-up that has already become a household name in Brazil. Creating a system of trust has been essential to the new banking culture that BankF\u00e1cil aims to build. The CFI.co judging panel applauds BankF\u00e1cil on its modernised and ethical approach to lending and its keen sense of opportunity.<\/p>\n The online bank\u2019s launch of novel services suggest that the company is merely in its first stages of corporate evolution. As it moulds and grows to suits its customers\u2019 needs, BankF\u00e1cil is sure to become a Brazilian giant in even more walks of life. For its achievements, the judges have decided to grant BankF\u00e1cil the 2016 Best Secured Consumer Lending Bank Brazil Award.<\/p>\n","protected":false},"excerpt":{"rendered":" BankF\u00e1cil is not just an online lending start-up; it is a moderniser of Brazil\u2019s notoriously tedious lending process and a digital underwriting platform that acts as correspondent bank to facilitate<\/p>\n","protected":false},"author":1,"featured_media":3866,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_links_to":"","_links_to_target":""},"categories":[10,53,7],"tags":[194],"class_list":["post-3864","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-banking","category-front","category-latin-america","tag-br"],"yoast_head":"\n