Pretmex – Innovate or die

“I would describe it in one word: simplicity. It has been a very simple, very easy, very user-friendly platform.”
_{Óscar Tapia, COO of Pretmex}

Today’s business world is dynamic and competitive, forcing businesses to face the difficult and decisive battle between innovating to stay in the market or dying. If they choose to innovate, it is essential to understand the market and adapt their processes to technological changes.

‍Pretmex is a SOFOM with 15 years of experience in the Mexican financial market.

Fernando Padilla, CEO and founder, and Óscar Tapia, COO, shared the strategies they have used to maintain their leadership. One of them is the use of certain technological tools, such as electronic signature, in their processes. This represents a strategy in line with the digital accessibility and technology demands of the emerging SME market, which is mostly led by young people.

Understanding the SME Market

SMEs account for more than 98% of businesses in Mexico. However, their characteristics include low professionalization, informality, and a lack of structured processes. Banks fail to understand them and make little effort to adapt to their needs, leaving them underserved and with limited access to financial services.

To address this market gap, SOFOMs (Multiple Purpose Financial Companies) were created to provide credit, leasing, and factoring for SMEs. Furthermore, Pretmex doesn’t just offer financial resources; it has also focused on understanding entrepreneurs and developing services and strategies aimed at solving their specific needs.

“We have to be flexible and creative enough to understand them and adapt a product that works for them and helps them grow.”
_{Fernando Padilla, CEO and Founder of Pretmex}

Technology: A demand of the current market

There are more and more people under 35 running SMEs. Some are entrepreneurs, others belong to new generations of family businesses. But they have one characteristic in common: they live completely immersed in the digital age and demand the use of technology.

“Young entrepreneurs have a different way of thinking, a different way of consuming.”
‍_{Fernando Padilla}

For this reason, Pretmex has decided to take a step further and serve this new market. They have realized the importance of using technological tools to serve their clients faster, more easily, and more affordably.

Mifiel, a partner in executing your vision

Among the tools Pretmex uses is electronic signature, which allows them to provide a quick response to their clients by reducing the credit application approval time (which previously took days) to hours. Furthermore, signing with the FIEL provides even greater legal certainty than a handwritten signature. To achieve these legal and technical benefits, they are using Mifiel.

During the interview, Óscar told us about a client who was outside of Mexico and needed financial resources. Thanks to Mifiel’s service, the instruction was generated, the parties signed it, and the credit was granted in a matter of hours, efficiently resolving their specific need.

Fernando also shared that in the past, his busiest time of year was during the holidays because the business owner or legal representative would be away. Consequently, they couldn’t sign, and the process would stall.

“With Mifiel, we’ve managed to turn that around: it’s no longer an excuse, it’s a solution, and it works like a charm.”
_{Fernando Padilla}

Signing is getting simpler every day

For both Fernando and Óscar, the most useful feature is the Mifiel app, which allows them to sign from their phones. This way, there’s no need to be in the office or have a computer on hand: they sign with their phones from anywhere at any time.

Additionally, if the phone supports it, you can sign using your fingerprint, which offers even greater benefits. This way, the user doesn’t have to worry about entering a password; they simply place their finger on the fingerprint reader to sign.

“The truth is, it makes life easier. I can be working remotely, on business trips, and things don’t grind to a halt.”
‍_{Fernando Padilla}

Digital process transformation

Pretmex is a testament to the security and reliability provided by electronic signatures. As a result, they are increasingly integrating the e.firma into more processes to keep 100% of their documentation digital and reach more customers across the country.

Today, to survive, companies must understand their market and focus their efforts on adapting to it. More and more customers are demanding the use of technological tools that not only solve their needs but do so efficiently. In this sense, companies are compelled to innovate and integrate technology into their processes, just as Pretmex did.