"What happens in Brazil is that a perfect machinery was set up, where costs are high because default rates are high, and vice versa. But if we performed a social experiment and took Brazilian costs to France, for instance, we'd see similar rates of default to those currently seen in Brazil," said Rafael Pereira, founder of Rebel and president of the company. "We can't have 70 million people in the Serasa system, meaning indebted or defaulting. It's half of the economically active population of the country. It only points to the fact that something is wrong."

https://exame.com/exame-in/fintechs-geru-e-rebel-querem-5-do-mercado-de-credito-pessoal/