Berlin, 28 March 2022
TESOBE, the company behind the Open Bank Project, announces a partnership with Infocorp Group, a leading provider of banking technology in LATAM and Caribbean, to enable banks in the region to create better customer-centric apps and services.
Open banking has proven to be not just a regulatory mandate for financial transparency, but a valuable growth opportunity for all members of the ecosystem. The lack of Open Banking regulation in some regions in LATAM hasn’t stopped institutions from partnering with Fintech companies and developing API strategies.
This partnership aims to bring battle-tested technology to the Latin American financial system, adapted and localised by a trusted local provider. With over 500 standardised APIs in the OBP platform, combined with Infocorp’s digital transformation expertise, banks in the region will be able to benefit from the global API economy.
“There might not be widespread Open Banking regulation such as in Europe, but that doesn’t mean financial institutions in Latin America can’t start benefiting from the API economy,” said Germán Rama, VP of Product and Sales at Infocorp. “Some banks will wait for regulation, others will seize the opportunity and we’ll be here with TESOBE and the Open Bank Project platform to drive them forward.”
Simon Redfern, CEO of TESOBE and Founder of Open Bank Project said: “What we saw in Europe and the UK is that banks can really drive innovation and technical best practices – and find new revenue opportunities by embracing Open APIs. There’s already a prosperous Fintech scene in the region and consumer appetite for new digital solutions is growing. Banks in Latin America have all the right conditions in place to grow their business through APIs.”
About the Open Bank Project: Led by Berlin-based software company TESOBE GmbH, the Open Bank Project is the leading open-source API solution for banks, ensuring a secure and rapid enhancement of their digital offering. The Open Bank Project assists banks in deploying Open Banking platforms with over 500 prebuilt, standardised APIs which are used by our vibrant global community of over 11,000 developers.
About Infocorp : Infocorp is a leading technology company in LATAM and Caribbean based in Uruguay and a member of Constellation Software Inc. in Canada. Infocorp’s main division – IC Banking – is dedicated to enabling financial institutions in Latin America to develop improved user experiences using its intelligent omni-channel digital banking platform.