The Interview of the Week by Dr. Kristine Bago: Romania Financially Educated  – The modern loans, online financing in just 5 minutes

Dr. Kristine Bago: “We are living in the “speed” era, and the future is represented by technology.

Previously, the problem was represented by the difficult access to information, technology, and mainly to knowledge.

Currently, the solution of the “past” has also problems – certain limitations in filtering and identifying the relevant information for our needs in the current & future scenario.

And this is where the technologies aiming simple and quick solutions come in, helping us to take educated, relevant, up-to-date, and perhaps, most importantly, documented decisions.

The Financing area, in general and moreover, the credit/loan field – represents a subject that brought Romanians’ dreams into reality many times, but was certainly also the center of many nightmares, too. 

How can we find the right credit for our needs in the overwhelming “sea” of information available, Mr. Piu?” 

Mr. Sebastian Piu – Founder & Managing Partner 123Credit.ro: “Yes, I would start with a study that I recently quoted in another TV show, made by Ipsos, conducted this year in July – which analyzed the relationship of Romanians with money and with banks. 

From the perception side, one thing came out very clearly, herebly that Romanians, in general, do NOT have a problem with the idea of borrowing, but they have a big issue with the lack of control resulting from this process.

The potential beneficiaries think they won’t receive the complete and relevant information.

E.g.: When they decide to sign a credit agreement, they think the bank decides everything; what and how it will happen further.

Basically, the lack of information makes Romanians reserved in closing a mortgage, because they get the impression that they are being tricked by the banks. 

I also know the emotional side behind a financing – a loan, and I know that as a rule, when someone wants to buy a home, they act much more emotionally than rationally. 

And then there is that impulse to enjoy that property you want, that beautiful apartment, the feeling that makes you decide quickly and not to analyze this process deeply.

In the next step, you can try, let’s say, “the hard way” – to go from bank to bank and to collect a lot of papers; to try to conquer through the “sea” of ​​information by himself  OR

To choose centralized solutions, such as 123credit.ro, which has created a dedicated digital space, where anyone, can access in simple words any kind of information – credit offers, compare, and further apply to the offer that suits you best, etc.”

25.10.2023 / Editor, Andreea Dragan

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Kristine Bago joined  Nine O’Clock  at the beginning of August 2023 as a Partner Editor.

Kristine Bago is a well-known financial auditor with extensive industry experience  – former Big4 alumna, entrepreneur in the financial services, economic influencer & Romanian TV Show producer.

Kristine Bago possess a wide experience in finance area, both in academic terms – certifications acquired, as well as experience gained in corporate companies, working for a period of 6 years at the major financial consulting companies in the world, as part of the Big4 network: PwC, KPMG and Deloitte Romania.

Kristine Bago holds a Bachelor, Master and Ph.D. degree from West University of Timisoara, being national & international (ACCA) certified in her profession.(financial audit). As a result-driven professional, she used all her expertise & previous professional involvement and build, in 2020, a unique business concept by adding into the Romanian business environment a new service – financial audit advisory, for companies having already an external financial auditor appointed. 17 companies in TOP 20 major companies in Romania become quickly, in the pandemic year, her clients. 1 year later, Kristine Bago establish another milestone – the media coverage. In 2021, she receives the offer to make an Economic Radio Show at GOLD FM and 6 months later, at the beggining of 2022, she was invited to be the permanent guest at an Economic TV Show at Profit News. After another 6 months as a permanent guest, she starts to be the sole producer of the Economic TV Show broadcasted by Profit News.

In 2023 (one year later), she records her own brand and starts her own TV Show, having the most important & representative guests from the financial ecosystem in Romania. During all this time, she used to write professional articles about major financial issues in Romania & worldwide, financial reviews / analysis, contributing in an objective way to the financial education of her audience.

Dr. Kristine Bago Partner Editor.Nine O’Clock