Artificial Intelligence | News | Insights | AiThority
[bsfp-cryptocurrency style=”widget-18″ align=”marquee” columns=”6″ coins=”selected” coins-count=”6″ coins-selected=”BTC,ETH,XRP,LTC,EOS,ADA,XLM,NEO,LTC,EOS,XEM,DASH,USDT,BNB,QTUM,XVG,ONT,ZEC,STEEM” currency=”USD” title=”Cryptocurrency Widget” show_title=”0″ icon=”” scheme=”light” bs-show-desktop=”1″ bs-show-tablet=”1″ bs-show-phone=”1″ custom-css-class=”” custom-id=”” css=”.vc_custom_1523079266073{margin-bottom: 0px !important;padding-top: 0px !important;padding-bottom: 0px !important;}”]

Finerio and Guiabolso Sign Partnership to Expand Pioneering Open Banking Solutions Throughout Latin America

  • The alliance will allow the companies to offer a wide range of pan-Latam data products related to open banking and personal finance for financial entities

Open Banking offers the possibility to innovate and improve financial services around the world, which will bring large changes in the industry. In this context, the fintechs Finerio and Guiabolso have created a strategic alliance in order to expand coverage in several countries in Latin America and prepare financial companies in the region for the next wave of opportunities based on new sources of data and analytics.

Both companies were originally created with the mission of improving financial well-being in their respective markets, later expanding their scope to include transformational B2B data products derived from the consolidation and analysis of customers’ aggregated bank accounts. Guiabolso launched its consumer financial management app in 2014 and now has over 6 million users in Brazil, while Finerio has acquired over 350,000 users since launching in 2016 and has subsequently expanded operations into Chile and Colombia. Responding to the evolution of the financial services, with the rise of fintechs and open banking regulation, the two companies independently made the decision towards the end of 2019 to open their infrastructure to banks, neobanks, lenders, accounting platforms, among other institutions, to offer open banking products and personal finance management (PFM) APIs.

Recommended AI News: Apptopia Raises $20 Million In Series C Funding To Source New Connected Device Data

Now working together, Guiabolso and Finerio have agreed to collaborate on commercial and technical endeavors, combining their respective local market solutions into unified offerings for regional and international companies seeking integrated open banking solutions and data services across Latin America. With this, customers will have access to a wide range of products aimed at financial entities and based on aggregated bank data, including a cutting-edge “Open Banking as a Service” (OBaaS®) platform in Brazil, at a time when other countries in the region are beginning to follow the recent regulatory steps of Brazil. The companies also plan to combine their expertise to develop even better credit scoring models and enhanced B2B2C financial management features across the region.

Related Posts
1 of 31,782

“Finerio is a natural ally and for some time now we’ve discussed ways to formalize our strategic cooperation. Some of our B2C fintech customers have already expanded to new markets in Latin America, but this cross-border alliance of fintech ‘enablers’ is something unprecedented up until now in the market, representing the expansion of the underlying data infrastructure and analytics services that allow our customers to continue creating innovative products. In other words, we’re combining our robust open banking expertise to offer the most advanced data ‘picks and shovels’ in this digital finance ‘gold rush’ rippling across the region,” comments Benjamin Gleason, founder of Guiabolso.

Recommended AI News: Wayflyer and Adobe Announce Merchant Finance Solution to Propel eCommerce Industry

By the end of this year, Finerio and Guiabolso hope to further consolidate their leadership in this sector in Latin America, evolving from the best option in their respective markets to also being the top solution for the multinationals in the region.

“In the B2B Open Banking space, those who have experience operating a B2C financial management application wind up having a unique advantage in terms of data intelligence and value-added characteristics for consumers, and both Guiabolso and Finerio have these R&D laboratories in their markets. We now both have the ability to extend this product offering to other banks and fintechs who want to generate a competitive advantage across the region through open banking and data-driven financial experiences, built on top of our proven technology and data intelligence,” says Nick Grassi, Co-CEO and founder of Finerio.

Recommended AI News: Intel’s 2020-2021 Corporate Responsibility Report: A Letter From Intel’s CEO

Comments are closed.