bxblue: disruptive innovation in payroll loan market through secure online technology

• Grant number: 16/21779-4
• Support Opportunities: Research Grants - Innovative Research in Small Business - PIPE
• Duration: August 01, 2017 - July 31, 2019
• Field of knowledge: Physical Sciences and Mathematics - Computer Science - Computer Systems
• Principal Investigator: Gustavo Gorenstein
• Grantee: Gustavo Gorenstein
• Host Company: FGR Serviços Administrativos Ltda
• City: São Paulo
• Associated researchers: Anderson Clayton Alves Nascimento ; Bernardo Machado David
• Associated scholarship(s): 17/15970-6 - Bxblue: disruptive innovation in payroll loan market through secure online technology, BP.TT; 17/15941-6 - Bxblue: disruptive innovation in payroll loan market through secure online technology, BP.TT

Abstract

The bxblue solution aims to transform the payroll loan market in Brazil, whose size is $ 280 billion, through technological innovation, as well as has taken place in other financial sectors in Brazil as credit cards (Nubank) and retail banking (Original Bank). With an investment of FAPDF it was possible to conduct a successful proof of concept of a new layer of web protocols and services (API) that performs banking operations without complications. One of the applications developed by the team making use of this API was the automation of the hiring process, portability and payroll loan renegotiation, whose prototype was developed, tested and approved by the market, which entitles us to apply for stage II in this process PIPE FAPESP. This project aims to implement technological improvements to make the hiring process of payroll credit transparent, automatic and online, helping people to access credit with higher quality, speed and accountability, while helping financial institutions to meet a greater number of people, eliminating the need for intermediaries. To make this service widely available it is necessary to overcome two main challenges: automatic fraud prevention in the online process and influence the consumer's credit behavior to take more informed decisions, which will be addressed in this research project. (AU)