“Some banks have that (secured loan) offering on file but aren’t pursuing it aggressively or making it easy for the consumer,” said Anderson Thees, a partner at Redpoint eventures, which invested roughly $3 million alongside Accion’s Frontier Investments Group. “The perceived level of risk in Brazil today is much higher than it actually is, because banks aren’t using collateral.” A Spanish-born banking executive, Mr. Furio was working at Boston Consulting Group in New York, where he met his Brazilian girlfriend, now wife, and was inspired to launch the company. After hearing her describe the complicated and time-consuming process consumers must complete to get a bank loan, he began researching the topic.

http://blogs.wsj.com/venturecapital/2015/08/03/brazils-bankfacil-secures-3m-launches-low-rate-consumer-loans/