Business

Brazilian fintech Neon will start offering a personal credit line

neon will start to offer personal credit line
  • Neon announced their own personal credit line focused on its youngest audience
  • The product will be released by the end of the year, and the fintech’s goal is to enable a credit analysis that takes no more than 10 minutes on its app

Neon, the Brazilian fintech that already offers credit cards and digital banking services, is planning to take their product portfolio to the next level. The company will start offering a personal credit line focused on its young audience, according to Estadão

The fintech’s main goal for the new credit product is to offer the same positive experience that Neon is already used to offering for opening a new account or requesting a credit card. The main point is that the largest part of the audience could know the result of the credit analysis in only 10 minutes by doing all the request process on Neon’s app, according to Guilherme Lorensini, new business director of Neon, in an interview for Estado. 

The personal credit line doesn’t have a minimal or maximum limit defined yet, but what the company already knows is that it will offer solutions for the main needs of its young audience, such as planning a trip, making a new course or changing cities. “We are still researching to understand which is the best way to really help the user. In a short period, what we know for sure is that it isn’t a credit line for buying a car or an apartment,” said Lorensini for Estado.

Since the product is still going through some improvements, it will be released to users by the end of the year.