In digital times, having financial advice with just a click is something that is becoming a trend, especially if we take into account that for a few years the financial sector is undergoing a process of transformation that happens not only through digitization, but, also, for betting on greater transparency. Also, this change translates into the way in which investment funds, deposits, pension plans are acquired, or how the market information is accessed.
In this context comes Finect, a platform that offers valuable financial information. "It is a project aimed at helping investors make the best investment decisions and find the best financial products that can generate profitability," says Rafa Casado, head of operations and product and technology at Finect. "We work with a lot of managers, investment banks and companies in the world of investment and financial advice. What we do is to help them get in touch with all that type of customers and users. "
Helping investors who are not experts
Founded in 2016, Finect is a continuation of what previously had been Unience and among its main shareholders are Abante, BME, Renta 4, or VDOS. Its focus is on saving-investment and offers interactive tools, content and contacts to make information more comprehensible and give more control over your money to users. It also offers a marketplace of financial advisors and a space to contact fund managers, among which are Cobasam, Az valor or Magallanes, among others. "As we are expanding the spectrum of content and products, many customers arrive who are not so expert in the world of investment funds. Users who have their doubts and need to know what to do with the money deposited that is not giving them any return, in order to put that money into more attractive investment alternatives", says Rafa Casado.
Among the target audience of Finect is that sector of the population that has a margin of savings and does not know very well how to obtain profitability. "In Spain 2/3 of the population does not save anything and the remaining third, there is a small percentage that already receives a counseling service, which can also appeal to us. But there is 30% or 40% of the population that basically does not receive advice and that they usually buy financial products that have been unprofitable ", says Rafa Casado. "Our focus is to reach that user so that he has access to more profitable products".
Eurobits, a strategic partner
The relationship with Eurobits began many years ago", says Rafa Casado. Arturo (González Mac Dowell, CEO of Eurobits) always says that we are the first non-banking client they had". The relationship of Eurobits with the old Unience, today Finect dates from 2008. "The aggregation of user data is basic because it is like having a scale: if you want to lose weight, you need something to measure progress, to see if you are going down weight. The data of the weight in finance is your income statement and your equity, that is, your income, your expenses and, on the other hand, the financial assets you have ", says Casado. "Being able to measure that to help and advise you better is fundamental. And the aggregator is basic to achieve these objectives. "
"Working with Finect has meant a constant stimulus for the evolution of our service over these years, fundamentally in everything related to the enhancement of heritage and investment products, such as funds, securities or pension plans," says Arturo González Macdowell, CEO of Eurobits. "We hope our collaboration continues for many years, adapting to the information retrieval needs of Finect at all times, and proposing new ideas that fit into its activity."
An intermediary committed to quality content
"Since we are an intermediary between users and our advisors we have to create content to attract those customers. They are difficult to create but we have to do it well. When you attract an audience, you have to give them something and you have to know that audience. You have to find formulas to get to know your potential client. It's about having a systematic way of how to sell or how to offer a good service to that client", explains Casado. "That, in a digital environment, translates into having a work philosophy that encompasses everything that surrounds the web, from the contents to knowledge of a series of processes so, in that way, an advisor can sell his advice to the end user".