Urgent loans are a very popular product today. Surely you have noticed the proliferation of platforms and entities that offer this type of service.
You may even be thinking about resorting to a quick credit but still have doubts about how they work. We tell you in five minutes the secrets of the growth of this type of credits.
New business model
Digitization is not just a matter of computer programming. It is a matter of technological implementation that involves cultural changes. Thanks to the Internet, you order food from your smartphone, book movie tickets or read this article. Why was not the financial sector going to modernize?
The quick loans caught on during the crisis, and the new technologies have consolidated them, setting up a new business model. Although everything points to this model will continue to evolve in the near future. What factors have been decisive for the consolidation of the system?
Goodbye to offices, commuting and queues
The digitalization of the financial sector has led to the closure of numerous branches of traditional banking entities. In addition, many new companies have appeared, which allow you to obtain the credit you need from the comfort of home.
From the millennial generation, the young and not so young, we develop our lives wrapped in technology. This has produced a change in the way of seeing the world. The new generations rely more on cryptocurrency than on a bank employee.
Consequently, entities that have adapted to this reality have been able to take advantage of this market share, simultaneously speeding up their operational speed.
Buy today and pay tomorrow
Another cultural factor that digitization has helped expand is consumption on credit. While this way of life is in the DNA of societies like the United States, fewer and fewer Spaniards are disgusted by Halloween or Black Friday.
Thanks to this, a form of consumption that is closely linked to credit and terms has been consolidated. Basically, the consumer of today does not want to wait to have the money to access the goods or services, and conceives the interest as part of the price of the same.
Nor should we forget that digitalization seeks to optimize processes. But our type of society does not want to be more efficient to rest or save resources, but to compete harder.
This accelerated pace demands that everything (mainly money) moves faster and faster. A few years ago, it could take weeks or months to manage a loan, but you are not currently willing to wait for four days.
An explosive combination
The combination of all these elements explains how the urgent credits have been so well received. After all, they are a modern financing instrument adapted to our new needs and desires.
Urgent loans: as a ring to the finger
It is not surprising that an accelerated society accustomed to credit receives urgent loans with open arms. Among its features include:
- Acceptance or denial almost instantaneously.
- Income in a few minutes or days.
- Flexible offer in terms of terms and forms of amortization.
In addition, after abusive, fraudulent and usurious practices have arisen on the part of unethical companies, the sector is consolidating around guarantees and client protection.
At Astro Finance we have been able to detect the need that society had to grant urgent loans. That’s why we have specialized in the sector and now we can help you understand the product and hire a quick loan adapted to your particular needs.