On the second day, the 26th edition of the Alcomp panel exhibition “Small loans, the rise of a large market” was held and the CEOs of various collections in the Landtech sector were present. Validation issue, banks not aligning with online lending groups and serious problem in providing financial resources for landtechs were among the important reasons that the participants of the meeting raised in explaining the limitations they face.
Human AminiReferring to Landtech’s 0.1% share in the lending sector, the CEO of DigiP said: “I must say frankly that we have not been very successful in the field of facility payment even with the entry of Landtech. We are talking about 0.1% of the market of landtechs.”
He also pointed out that despite the problems of the validation process and the risk that Landtech groups accept in providing loans and facilities, this performance has not been so bad: “In a society where validation is not widespread yet, Landtechs have been successful so far.” have done and have borne the greatest risk themselves.”
Amini continued: “The role of technology in creating validation alternatives cannot be ignored. “The better the technology and the more alternative data, the better this process will be over time.”
In another part of his speech, the CEO of DGP pointed to the issue of the behavior of households as consumers of micro loans and said: “One of the tasks and missions of Landtech is to monitor consumer behavior and control credit health. The difficult financial conditions of our society and the existing inflation have made it difficult for consumer behavior.
He summarized his talk about the state of the LandTech industry in Iran as follows: “A knowledge-based economy needs a knowledge-based regulator. This regulator should act with more awareness in this area.
Landtechs need to secure more bank resources
Alireza Shafi’i, the CEO of Kipa, in response to the question that “Can landtechs help increase the amount of lending?”, pointed to the non-implementation of banks’ expansionary policies and said: “Although the government claims to facilitate these matters, the headlines of newspapers and media are not in line with reality. it is different. In fact, this was not the case in practice, and even though landtechs can control and prevent the outflow of liquidity, banks have not cooperated with landtechs and in reality there is no news of expansionary policies.
This is something that other owners of Landtec collections also confirm. My father is bankruptIn this context, the CEO of Dara platform stated that banks should allocate more resources to Landtechs and if today Landtech groups have a 0.1% share in the lending sector, it is precisely because of the lack of expansionary policies in banks and their alignment with Landtechs.
Validation is very weak in our country
Referring to the importance of validation in the lending process, the borrower said: “Unfortunately, one of the weak reports we receive is validation reports. Validation reports, which only one company in the country is allowed to prepare, cover only four or five components for validation.
He believes that banning validation for different companies and entrusting this responsibility to only one company is wrong: “The first direct result of looking at security in the field of validation can be a default in the system, and we will need a complex model to deal with it. We hope that with the addition of new components to the validation system, this process will change and we will be able to perform the validation more accurately.”
The solution is to improve the financial resources situation
In the meantime, the Chairman of the Board of Directors of Qasta Group also mentioned the issue of financing. Alireza Houshmand He pointed out that this 0.1% share of landtechs can be increased only by providing financial resources. He said: “The share of online lending from the total of small loans less than 200 million tomans that was provided last year was 0.1% and only by providing financial resources, this share can be increased to more than 1%.”
According to him, financial resources are currently provided through the money market; But the groups active in the field of Landtech are trying to increase the share of online lending groups in providing loans and facilities with the cooperation of Nasr Organization.
Houshmand further pointed to the non-payment of debt facilities and said: “Although it was supposed that debt facilities of 220 thousand billion Tomans would be paid, only 6% of these facilities have been paid by the banks. From the same number of loans that have not been paid, it can be concluded that the banks have not been successful in this field. Therefore, in such a situation, these facilities and landtechs are the ones that can be useful.”
The regulation of Landtech field will be done this year
Mohammad Sadiq AzadaniThe head of the LandTech Commission of Nasr Organization of Tehran attended this panel as a representative of this organization and explained about the necessary and regulatory measures in the field of LandTech as follows: “A central sandbox has been created and the regulation of LandTechs will take place this year.”
According to him, we need to define the role of landtechs precisely, and with a precise definition of this field and a regulation for it, reaching a 1% share of online lending collections will not be far from reach.
The lender is the loser and the borrower is the winner
Another point that the managing directors of Landtech collections mentioned is the issue of lending in an inflationary society. Pedram Varshukar, the CEO of Dara platform, explained about this: “Inflation of 54.7% in our country causes the rates to change every day, and in such a situation, the borrowers, i.e. the debtors, are the winners. In this situation, the default rate will only affect Landtech collections, and this issue has created an uncertain future for Landtech companies.
The chairman of the board of Qesta also said about this issue: “Inflation increases with a steep slope; But the amount of loans does not increase according to the rate of inflation. In this situation, the winner is the borrower and the lender is the loser. The Landtech ecosystem is not complete and the fact that we cannot yet accept digital assets as collateral shows that this ecosystem is not yet complete and needs more maturity.”