Yuno Announced A New Partnership With Kount
Weekly news up to Wednesday, 11th of September 2024.
REPORT
👀 NEWS HIGHLIGHT
PicPay is redefining the financial landscape by becoming the first institution to implement salary portability using Open Finance technology. This innovation promises to transform the employee experience by allowing them to choose the financial institution that best suits their needs, without facing the traditional difficulties of the process.
Salary portability is a process that allows workers to transfer their salary payments from one financial institution to another of their choice. This facility aims to increase competitiveness between institutions and give workers more control over their financial lives.
📊 INFOGRAPHIC
NOW, ON TO THE SUMMARY OF LAST WEEK'S NEWS
☕️ REGIONAL HIGHLIGHTS
⭐️ Partnering with Webull to Bring US Banking and Payments to Brazil.
⭐️ Argentine Neobanco Ualá announces the launch of its new secured credit card.
⭐️ Latin America's e-commerce king says MercadoLibre has huge room for growth.
⭐️ Brazil preps new round of CBDC pilots.
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BRAZIL
Brazilian neobank Neon Raises over 𝗥$ 𝟱𝟬𝟬 𝗠𝗶𝗹𝗹𝗶𝗼𝗻 in new funding round. The raise occurred in two tranches – one worth R$ 310 million (US$ 64 million) in December 2023, and another R$ 208 million (US$ 38 million) in August 2024.
Bad loans pile up at Nubank, Latin America’s new No. 1 Bank. Second-quarter profits doubled from a year ago on a lending surge. Analysts raised questions over high defaults, lower provisions. Keep reading
Ant International collaborates with Brazilian partners to drive financial inclusion with innovative credit tech solutions. In partnership with Dock, Ant aims to enhance credit management and infrastructure efficiency for Dock’s clients, including financial institutions, retailers, and FinTech start-ups.
COLOMBIA
Yuno announced a new partnership with Kount, an Equifax Company, a leader in trust and safety technology. The collaboration combines Yuno’s innovative payment orchestration capabilities with Kount’s advanced solutions for fraud detection, identity verification, chargeback management and regulatory compliance.
Redeban, in collaboration with Capgemini, will implement an innovative project that will transform financial services in Colombia, enhancing access to the benefits of Open Finance. This collaboration marks a milestone in the integration of Open Finance in the country.
EL SALVADOR
Salvadoran FinTech Ábaco raised $4M in a pre-seed round. With the funds, Ábaco will be able to lend to more SMEs and expand into new markets. Ábaco offers short-term financing to small and medium-sized enterprises (SMEs) by automating money tracking and providing budget control.