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One of the ethnic groups with the greatest impact on the US economy, without a doubt, is the Latino, which year after year contributes a large percentage to the country’s Gross Domestic Product. Latinos have proven to be an important community for the nation’s financial system .
Despite its importance, one of the limitations that the Latino community may encounter has to do with the fact that practically the entire financial sector communicates only in English, which is why which Spanish-speakers do not have enough confidence to carry out certain procedures such as requesting a loan.
For this reason, the Upstart loan platform announced that its personal loan services is now available in Spanish with the sole purpose that the community that speaks this language it is easier for you to access a loan. Until now, Upstart is the only online loan platform in Spanish .
Via In a statement, Dave Girouard, co-founder and CEO of Upstart, reported that “obtaining a loan is an important decision and consumers deserve to be fully informed throughout the process,” which is why thinking about the Latino community it was determined that the service is in Spanish .
Girouard added that with this strategy the intention is to take “one more step to make the financial system more accessible and inclusive for those who need it most”, therefore, the Latino community throughout the country can access this platform in a simple way and, most importantly, that it is completely in Spanish.
Girouard added that with this strategy the intention is to take “a step more to make the financial system m more accessible and inclusive for those who need it most ”, therefore, the Latino community throughout the country can access this platform in a simple way and, most importantly, that it is completely in Spanish.
The position of inclusion referred to by the leader from Upstart, makes sense if you take into account that the Latino community in the United States represents approximately 63 million inhabitants , so the use of Spanish is recurrent in daily activities.
According to Pew Research, the Latino community is the ethnic group with the highest population growth in the United States , excluding it from the financial system would be a huge mistake for various companies that are part of this important sector of the economy, that is why Upstart is clear that one way to be inclusive is by speaking in their language.
According to information officer d e the company, in 1200, Upstart approved a 27. 2% more Latino borrowers than traditional models with interest rates one 10. 5% lower, despite offering their service in English. Upstart highlighted that by providing a loan experience in Spanish, it makes the service an inclusive deal.
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