Kueski is the largest online consumer lender in Mexico, which provides financial services for users who are ineligible for traditional bank loans. Pulse 2.0 interviewed Kueski Senior Vice President of Finance, Andrew Seiz, to learn more about the company.
Andrew Seiz’s Background
What is Andrew Seiz’s background? Seiz said:
“I’m currently the SVP of Finance at Kueski, the leading buy now, pay later (BNPL) and online consumer lender in Latin America. However, I’ve had the pleasure of spending the last 25 years in capital markets and investment management. Before joining Kueski, I was a portfolio manager at BFAM Partners and Pine River Capital Management in New York, where I specialized in emerging markets, focusing on credit, rates, and equities. I’ve also spent some time in senior leadership roles at Merrill Lynch and Goldman Sachs, serving as Managing Director and Vice President in credit research, with responsibilities spanning both Hong Kong and New York.”
“In my role at Kueski, I spearhead our debt and equity financing strategies while cultivating relationships with the investment community to drive awareness of the company’s growth trajectory and opportunities. I oversee comprehensive financial planning, performance monitoring, and the production of all financial reports, ensuring the company’s financial health and long-term success.’
Favorite Memory
What has been your favorite part about working for the company so far? Seiz reflected:
“My favorite part about working for Kueski so far has been the opportunity to collaborate with such a talented and motivated group. We have a very team-oriented culture, and it’s clear that the company recruits and hires team members who are not only intelligent but also passionate about fintech and financial inclusion. Working alongside colleagues who share these values and are dedicated to making a positive impact has been incredibly inspiring. It’s a constant source of motivation to be part of such a driven and forward-thinking team.”
Core Products
What are the company’s core products and features? Seiz explained:
“As one of the first BNPL products in Mexico, Kueski Pay has grown into one of Mexico’s favorite ways to pay and is now available to Mexican consumers at thousands of merchants, both online and in-store. Utilizing proprietary AI and machine-learning technology, Kueski Pay provides more competitive financing solutions to Mexican consumers while empowering Kueski’s merchant partners to grow their businesses.”
“Kueski Personal Loans, Kueski’s inaugural product, is designed to simplify the process for personal loans. Unlike traditional banks, Kueski is dedicated to transparent and equitable credit solutions, particularly for those at the base of the economic pyramid and Kueski Personal Loans helps the company achieve this. This dedication includes helping users build credit history, with no hidden fees or prepayment penalties. Kueski Personal Loans has disbursed millions of loans, with funds used for various needs, including monthly expenses, and investments in health, education, and housing.”
Differentiation From The Competition
What differentiates the company from its competition? Seiz affirmed:
“At Kueski, we differentiate ourselves by prioritizing financial inclusion for Mexico’s underserved and underbanked population. While traditional financial institutions cater to customers with established credit histories and easier financial data to examine, we’re dedicated to offering accessible credit and financial products to individuals who might otherwise be excluded or overlooked by the banking system.”
“In Mexico, where a significant portion of the population relies heavily on cash transactions, establishing credit histories poses a challenge leaving millions with little to no credit history. Kueski has revolutionized financial accessibility in Mexico by leveraging AI and machine learning to assess creditworthiness through unconventional data sources. By analyzing alternative data, Kueski extends loans to individuals without traditional credit histories, broadening financial inclusion. This approach benefits underserved demographics, including women, the unemployed, and the elderly, who often lack access to financial tools, while stimulating economic growth.”
Challenges Faced
What financial challenges are Mexican consumers experiencing and how does Kueski alleviate these pain points? Seiz acknowledged:
“There are critical financial challenges that Mexican consumers experience day-to-day, and a substantial portion of the population remains unbanked and heavily reliant on cash transactions. According to a study by the Bank of Mexico, 80% of retail transactions in the country are still made in cash. Kueski’s solutions are designed to bridge this gap, fostering greater financial inclusion and connecting more consumers to the formal economy.”
“Kueski Pay enables consumers to make purchases and manage payments flexibly, removing barriers to credit access and providing a path to financial integration. Kueski Personal Loans further supports financial inclusion by offering accessible consumer lending options, helping those who are underserved by traditional banking systems.”
“By addressing the barriers to financial access and empowering both consumers and merchants, we are not just facilitating immediate financial transactions but also contributing to long-term economic empowerment.”
Evolution Of The Company’s Technology
How has the company’s technology evolved since launching? Seiz noted:
“From its founding in 2012, Kueski has been committed to harnessing the power of cutting-edge innovations, such as AI, to connect Mexican consumers to the formal economy. The company has grown with a bold approach to leveraging technology to enhance accessibility to financial services at scale. As alternative credit data continues to become more popular in underbanked countries, such as Mexico, fintechs have the most room to grow and are most likely to benefit from innovation.”
Significant Milestones
What have been some of the company’s most significant milestones? Seiz cited:
“Kueski recently reached the incredible milestone of 20 million loans issued”
“In 2024 alone, we announced that we have teamed up with Amazon Mexico, and on the product side, we launched the in-store version of Kueski Pay which allows customers to complete transactions in physical stores without an internet connection – a big step forward in creating even more access to financial products when and where consumers need them. Kueski was also recognized on CNBC’s prestigious World’s Top FinTech Companies list and named one of the five most ethical companies in Mexico by AMITAI. We now have the highest penetration rate of nearly 30%, when compared with other providers, within the top 150 e-commerce merchants in Mexico.”
Outlook On Fintech Investment Landscape
What is your outlook on the fintech investment landscape in LatAm in 2025? Seiz emphasized:
“As we look ahead to 2025, I’m optimistic about the fintech investment landscape in Latin America, particularly in Mexico. I believe we’ll see increased investment in the sector as companies focus on scaling innovative credit products that meet the needs of underserved consumers. This growing venture capital interest will be crucial in expanding access to credit, providing greater consumer choice, and driving economic growth across the region.”
“I also see near-shoring as a key trend shaping the future. By improving operational efficiency, enhancing market access, and accelerating digitization, nearshoring will play a pivotal role in expanding Mexico’s fintech sector and strengthening its financial ecosystem. These developments position Mexico to lead the region in fintech innovation and financial inclusion.”
Future Fintech Innovations
What fintech innovations do you believe will drive financial inclusion in emerging markets like Mexico? Seiz pointed out:
“Mobile wallets and digital payment platforms are pivotal in driving financial inclusion, especially in emerging markets like Mexico, where a significant portion of the population remains unbanked and lacks access to traditional credit products.”
“As we look to 2025, the focus on payment innovations will only intensify, creating more seamless customer experiences while also addressing critical challenges like fraud prevention. By continuing to invest in these technologies, we can bridge the gap left by traditional banking infrastructure, ultimately enhancing the financial lives of consumers and expanding access to essential services.”
Future Company Goals
What are some of the company’s future company goals? Seiz emphasized:
“Our future goals include expanding our in-store merchant network for Kueski Pay over the next 12 months while continuing to drive exponential growth in our online Kueski Pay platform and Kueski Personal Loans. In 2025 and beyond, we will remain dedicated to staying at the forefront of innovative technology, especially AI.”
“Through these cutting-edge innovations, we’ll continue to look for ways to personalize our products even further to improve customer experience for users at all financial education levels, protect Mexican consumers against fraud, and boost profits for our growing network of merchants and partners by enhancing financial inclusion and connecting more people to the formal economy. We are currently – and always – focused on our growth in Mexico and ensuring that we have the products in place to improve the financial lives of our customers and serve as Mexico’s favorite way to pay.”
Additional Thoughts
Any other topics you would like to discuss? Seiz concluded:
“One topic I find worth discussing is the ongoing impact of AI innovations in financial services. While the AI hype cycle may be winding down, I believe the excitement and momentum around its transformative potential will remain strong. Leading fintech companies like Kueski are continuing to unlock exponential opportunities through this technology.”
“With advancements like chatbots and voice assistants, I anticipate more voice control integrations, allowing users easier access to payment options, check balances, and receive personalized recommendations—all of which will enhance the customer experience, boost financial inclusion and drive profits.”
