A little more than two years have passed since the deadliest pandemic that humanity has experienced in the last 100 years began, and with it one of the most challenging challenges that our generation has faced, said Luis Morales Robles, general director of the UniCCo Groupspearheaded by UniCCo, the Public Accounting Credit Union.
In interview with The EconomistMorales said that the repercussions of the Covid-19 contagion left many marks on people, families, work teams and the economy.
He also mentioned that Russia’s invasion of Ukraine, “a circumstance that has the world in suspense by causing great uncertainty about many aspects, among others, the short, medium and long-term economic impact of this schism in the world order, the increases prices of raw materials caused by the conflict, of export products from that area to the world, as well as the possibility of new disruptions in the supply chains that we have already been carrying since the pandemic, do nothing but inflict more inflation and configure scenarios that propitiate a significant deceleration in economic growth”.
He explained that we are facing the circumstance of deeper and more lasting increases in prices, “the challenge of the central banks in the world is enormous when trying to contain inflation through raising interest rates or limiting the money in circulation, since this time we are facing an inflation of costs and not of demand”.
Morales Robles predicts that negative real rates will continue in many economies, in the case of Mexico he considered that the convergence of the target inflation rate is expected, for now, in two or three more semesters.
New products
Committed to an accelerated digital transformation, “we have developed an intuitive portal called UniCCo-e that will give a faster response to financing requests, minimizing the processing time and maintaining the customer experience as the main metric. We want to raise the standard of service we offer by generating more volume with agility and seeking a real change in the experience as users”.
Morales explained that at the end of April, the Single Direct Credit for individuals with business activities, which is an intuitive platform, “from the capture of certain data, it suggests a product, what it does is shorten credit authorization processes, it gives authorization to go to the Credit bureau and in 30 seconds it returns a data, a process that took 36 hours”.
They also strengthened their digital tools. “The mobile application has been operating for UniCCo for a couple of years, but we are strengthening it by being able to give users tools so that in 3 or 4 clicks they can make their provisions, view their account statements, make their payments. , what is sought is that the customer experience changes when operating a financing product”.
He said that the financing will be assigned from the Credit Union with all the protections that correspond by the regulation that applies to it and for the segment that is going. “There are other products that are for consumer credit that are not specific to UC, but in the Group we are connecting new platforms for credit generation.”
He exemplified that now you get a QR code that you read and from there it invites you to do five steps and generate the financing line.
“We redesigned our controls and strengthened our technological and cybersecurity infrastructure, which, together with our Productivity with Flexibility Program, allowed us to return to pre-pandemic operating levels from the start of the last quarter of 2021.
The combination of hybrid work schemes where some people returned full-time and others continued to work from home, allowed us to provide security and protection to our staff and thus avoid possible contagion, while maintaining high levels of quality in services. One of the main strengths is our people, in such a way that the retention and attraction of talent will continue to be a priority”, said Luis Morales.
Investments and projects
The CEO of Unicco Group He pointed out that they are investing very heavily in systems, not just in platforms, “one thing is the tool on the platform and another thing is the operating systems, that we are becoming more efficient and that we have growth plans through inorganic growth and attentive to the fact that we may be presented with a merger opportunity”.
He mentioned that they are serving a segment of non-banking financial entities and have even developed expertise and an appetite to finance nearly 45 non-banking financial entities, among others. Sophomeslessors or any other figure.
“We are preparing our line of business generation related to pure leasing, because although there are no cars now, when it exists and the production lines are recomposed, we want to significantly detonate the generation of the pure income product for the granting of automobiles that Mexico becomes, among other reasons, a power, in the automotive generation that is not for internal consumption, but we believe that internal consumption for what it does to cars is going to detonate shortly.
“The strategies are aligned to continue multiplying the income base by strengthening the credit portfolio at the national level with the usual quality. We will continue under the banner of prudence, trying to manage a controlled credit risk and serving our customers in the best way so that they continue to trust in UniCCo as an alternative, effective and safe source for the promotion of their offices and companies. And continue accompanying the business plans through the use of credit and we will continue contributing to the growth and recovery of Mexico”, concluded Luis Morales.
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