In an interview with Oscar Anzures, CFO of Ibancar, on the position in the Spanish consumer credit market and future developments.
1) Please explain the approach of your platform, with a particular focus on the business model.
Ibancar is a technology-driven lender offering consumer loans in the near-prime segment via a fully digital platform. Its core product is a “Car Equity Loan,” where the borrower’s vehicle serves as collateral. The target group consists of consumers often underserved by traditional banks. Unlike traditional auto-pawn lenders, Ibancar does not conduct physical vehicle inspections or require in-person meetings. Instead, the entire process is digital, supported by chatbots and automated data verification to enable fast and secure lending decisions. The business model emphasizes ethical lending and positive customer outcomes, aiming to minimize repossessions. Recently, Ibancar launched two new products targeting the same customer group: a used car loan and an unsecured loan assessed via AI-based analysis of Open Banking data.
2) How is the consumer credit market structured in Spain, and what is Ibancar’s position?
The Spanish consumer credit market is highly concentrated: over 75% of unsecured lending is handled by major banks, which mainly serve prime customers. This leaves a large segment—over six million near-prime and sub-prime consumers—underserved or excluded. Demand is strong, driven by household needs, rising living costs, and the lack of attractive financial alternatives. On the supply side, non-bank lenders are often fragmented and rely on outdated models such as physical branches, collateral, or expensive intermediaries. While digital lenders are emerging, they often focus on micro-loans with high interest rates. Ibancar occupies a unique position by offering near-prime consumers loans up to €6,000 secured by collateral. This reduces default risk, increases repayment rates, and enables better terms. With a rapidly growing portfolio, proven profitability, and a fully digital, socially inclusive approach, Ibancar is already one of Spain’s leading alternative lenders.
3) Why are digitally originated consumer loans important for the economy and society?
Digital consumer loans enhance financial inclusion by providing faster, easier, and fairer access. They reach customers with irregular incomes, limited or moderate credit, and newcomers—groups often excluded from traditional banks. Digital processes reduce transaction costs, increase transparency, and speed up credit decisions through automated workflows, digital identification, and rapid credit assessments. Economically, digital platforms support consumption, provide short-term liquidity, and reduce dependence on informal or predatory lenders. Socially, consumers benefit from clear terms, flexible repayment options, and improved service—especially when flexible adjustments and restructurings are standard, as with Ibancar.
4) What makes consumer loans attractive for investors?
Consumer loans offer investors predictable cash flows, attractive yield potential, and diversification, particularly in near-prime and secured segments. In Spain, as in the EU, the sector is regulated under the Consumer Credit Directive and transparency and affordability rules. Ibancar operates transparently, combining responsible lending with innovation. The use of realizable collateral, such as vehicles, reduces defaults and increases portfolio resilience.
5) What trends do you expect in consumer lending?
Several trends are shaping the future: near-prime lending will grow as banks focus on existing customers and rarely provide digital offerings for broader groups. Embedded lending and API-based solutions at the point of need—e.g., car repairs, insurance, or e-commerce—will expand. Data-driven credit assessment incorporating behavioral analysis and Open Banking data will make products more precise. The focus on responsible and ethical lending will intensify, as will the use of digital registers for collateral management, offering efficiency gains. Ibancar is well-positioned to benefit from these trends and plans to expand its scalable, ethical, tech-driven lending infrastructure in Spain and beyond.
Ibancar: Digital, Secured Consumer Loans for Underserved Groups
Ibancar is an innovative, fully digital lender in Spain, specializing in financing for near-prime consumers. Founded to provide fair and flexible credit solutions to individuals often excluded from traditional banks, the company combines technological efficiency, ethical standards, and social inclusion. Its main product is a “Car Equity Loan,” where the borrower’s vehicle serves as collateral, with no physical inspection or in-person meetings. Additional offerings include a used car loan and an unsecured loan analyzed by an AI-powered algorithm using Open Banking data. The entire process, from application to disbursement, is digital, supported by chatbots and automated verification. Ibancar is now one of Spain’s leading alternative lenders, offering loans up to €6,000 with transparent terms, reduced default risk through secured structures, and higher repayment rates. With rapid customer growth, profitability, and a clear focus on responsible lending, Ibancar is setting new standards for digital financial solutions in Spain and beyond.
