Brazil-based fintech TecBan has partnered with Mexican personal finance management (PFM) fintech Finerio to offer new solutions to Open Finance participants, according to latamfintech. co .

TecBan, owner of the Banco24Horas network, announced an exclusive partnership with Mexican fintech Finerio Connect. The collaboration aims to offer new solutions to participants of Open Finance, providing a white label personal finance manager. This is a commercial agreement and TecBan has made no contribution to Finerio.

TecBan’s Open Finance manager has stated that ‘TecBan was a pioneer in launching the Open Finance-as-a-service platform. As the system is advancing, we are now faced with the challenge of the opportunities arising from the consumption of this data. The finance manager is here to help institutions on this journey, and to improve the experience of the end consumer’.

About Finerio Created in 2016, Finerio reportedly develops more inclusive and efficient financial solutions, through technology and data, customised for the open financial system throughout Latin America. The fintech’s co-CEO declared that ‘being a company of Latin origin, Finerio is interested in its expansion throughout the region, which is why the fintech’s arrival in Brazil represents a great achievement, given the great market potential that the country has and the leadership in regulatory issues’. Finerio's personal finance management solution, which will be adapted for Brazil by TecBan, is a structure ready to be connected and used in white label form.

In this way, it can be incorporated into the current applications of banks or be part of a new application to be created. The end user will have access to charts of expenses by category, intelligent diagnostics, transaction analysis accounts, balances, and budget forecasting, among other options. Finerio Connect currently has more than 100 clients, including some of the largest banks, neobanks, and fintechs in the region.

Its solution receives more than 6 million requests per month, LATAM Fintech concluded. About TecBan For 39 years, TecBan has been offering technological solutions that contribute to physical-digital convergence, making the financial ecosystem in Brazil increasingly efficient. In the last 10 years, BRL 4 billion were invested to promote access to financial services for all social classes, in all states of Brazil, according to the fintech company.

Amid Brazil’s journey towards Open Finance, TecBan’s Tiago Aguiar presents the current industry landscape and use cases, banks-fintechs partnerships, and TecBan’s agenda. To find out more, please read our interview with TecBan. To find out more about TecBan, we encourage you to visit our company database.

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