More requests for online loans, less banks
The digital revolution and advances in information technologies have transformed the lives of people and society as a whole. Today, the internet is in all Spanish homes and it is difficult to imagine how we worked without it, since its contribution in different areas has been substantial.
Crisis of traditional bank offices
The banks and, in general, the financial activity has been tremendously impacted, both by these changes and by the economic crisis that Spain has suffered in recent years. The constant closures of offices, the strategic mergers that the sector is experiencing, the high fixed operating costs and the stagnation in the flow of credit have been key factors in the digitalization of banking.
Between 2009 and 2015, Spanish banks closed more than 13 thousand offices. Moreover , between 2012 and 2013 alone, 4 thousand closed branches were registered and, according to the estimates of Upite Consulting , it is projected that this year 2017 will end up closing a quarter of the banking offices in the country.
But not only financial institutions have suffered the onslaught of the crisis, people are the main affected, and if we add to that the poor organization of personal finances, the accumulation of unpaid bills and the reduction of income, the scenario complicates
That is why many people are looking for quick alternatives to urgent money problems and this is where institutions with online services run with an advantage. In Spain, a wide variety of companies offer online loans and more and more users are contracting these services via the web, saving time, money and bad times.
Why do people prefer to hire credits online?
There are multiple reasons why more and more users prefer to search the internet for solutions that traditional banks are not able to offer. In the digital world the possibilities multiply and the advantages are obvious.
- A wide range of credit products allows customers to have a wide variety of products to choose according to the needs and interests of each. It is this competitiveness that forces these websites to strive to offer the best conditions for their customers.
- These entities are the perfect solution for economic emergencies: in a few minutes you can have your loan approved.
- In addition, those who prefer to hire these services save many procedures and requirements that traditional institutions still have, such as the need for an endorsement and paperwork that only come to complicate people and slow down the entire process without any sense.
- A large number of websites allow contracting online credits even to people registered as delinquent, regardless of the use you give to money, unlike traditional institutions that are not always willing to run these “risks”.
- But if there is something that those who prefer online loans are grateful for, it is the simple thing that hiring is, one hundred percent online and in a few steps. Thanks to the automation of these processes, you receive the money in a few minutes in your own account.
For this and more, the number of users of this type of service grows every day, because hiring credits online is much more convenient than doing it in person at a traditional bank. It is enough to have access to the internet to quickly solve a cash emergency quickly, comfortably and safely, without having to wait in long lines and avoiding bad times with traditional banks.