Simplifying Financial Data Validation With Automated Solutions

Q: What was the business opportunity that gave birth to Moffin?
A: The business arose from a need we saw in the fintech market, where many companies had to rebuild their digital infrastructures from scratch, which was costly and redundant. Fintechs were replicating the same basic identity validation and payment management systems, but without an adaptable and efficient infrastructure to optimize those processes. We identified a gap in the industry and decided to focus on technology as an enabler for digital transformation, especially in data validation and compliance, without having to reinvent the wheel for every client.

Q: How has Moffin evolved since its founding in 2020 to become a benchmark in financial infrastructure in Mexico?
A: Since our founding in 2020, we have evolved from an initial platform to simplify data validation and comply with regulations, to a more robust system that now allows us to integrate multiple data sources automatically. This evolution has been driven by the growing demand for solutions to validate profiles in various contexts such as credit, leasing, suppliers, and more. We now offer an infrastructure that allows companies to evaluate risks efficiently, standardizing and evaluating data automatically, which positions us as a benchmark in the industry.

Q: What industries showed the highest adoption of your solutions during 2024?
A: During 2024, the industries that showed the greatest adoption included the financial sector, especially in lending, and other sectors such as retailers, logistics, and HR. In the financial sector, we help companies validate the identity and solvency of customers or suppliers in record time. In sectors such as retailers and distributors, our systems allow us to evaluate the credit risk of companies that, although they are not traditional financiers, need to make informed credit decisions. This is the case of Small and Medium Business, that need to finance their assets purchases.

Q: What is Moffin's key differentiator versus other data integration and credit validation solutions?
A: We stand apart by our ability to connect and transform data from multiple sources, enabling companies to make fast, automated decisions. Unlike other solutions, we not only validate identity or credit history, but we integrate multiple types of relevant data in a simple, agile, and real-time manner, without the need for a specialized engineering team.

Q: What are the main challenges that companies in Mexico face when digitizing their credit validation processes and how does Moffin help them overcome them?
A: The main challenge lies in the diversity of the ecosystem of services for credit validation, with over 100 providers specializing in different categories, such as identity validation and credit bureaus. This creates significant technical complexity, requiring specialized engineering, credit, and data teams, which increases costs and time. We address this difficulty by simplifying the validation process by automatically orchestrating the information, allowing companies to get the right data efficiently and without the need to manage the technical complexity of multiple vendors.

Q: Moffin’s platform allows users to query credit, tax, and identity information in seconds, how does the company ensure that this data is accurate and up-to-date?
A: Moffin guarantees the accuracy and updating of data through direct integrations with key providers such as Buró de Crédito, Círculo de Crédito, and SAT. These real-time connections ensure that information is always available and up to date, without interruption. The platform also offers additional functionalities, such as secure document storage and the ability to integrate data from proprietary systems through APIs, which guarantees the integrity and constant availability of the information.

Q: The fintech industry is highly regulated and evolves constantly, how does Moffin ensure compliance and security in financial data management?
A: We ensure compliance by designing interfaces and flows that ensure that authorization processes, such as consumer consent, are carried out correctly and in alignment with current regulations. In terms of security, we store all data in the cloud through highly trusted providers such as AWS and Google Cloud. In addition, we are in the process of ISO 27001 certification to strengthen our security protocols.

Q: How is Moffin integrating AI and automation within its operations?
A: AI and automation are fundamental parts of our organizational culture. These technologies are used to optimize daily tasks, from internal communication to improving operational processes. In this sense, each team member has access to advanced tools and a monthly budget to explore new solutions, fostering continuous development and internal innovation.

We expect that the integration of AI will profoundly transform the financial sector, especially in data management. These technologies will enable better structuring and interpretation of information, facilitating decision making and automation of repetitive tasks. Although complex process evaluation, such as credit validation, remains a challenge, AI can offer breakthroughs in more qualitative and specific tasks, such as profile review or preliminary document evaluation. This will significantly optimize the efficiency of the sector.

Q: What are Moffin's strategic expansion and product development priorities for 2025?
A: In 2025, our priority will be to build a flexible data platform that can adapt to any use case. We aim to automate data collection and analysis to offer more efficient profile validation solutions. As we consolidate this platform, we plan to expand into vertical industries such as real estate and recruiting, and eventually explore international markets and B2C models. We are focusing on improving the flexibility of our platform and developing tools to automatically analyze and evaluate data. 

Q: What advice would you give to managers looking to digitize and optimize their financial validation processes?
A: It is essential to be aware of risks and prepare strategies to mitigate them, as if they were insurance. Frauds and attacks, such as farming, are becoming more and more creative. To minimize them, keeping data organized and having clear visibility of processes is essential to identify and prevent failures.