LoanPro and NovoPayment have teamed as much as assist develop entry to credit score for shoppers in Latin America.
The partnership integrates LoanPro’s credit score ledger and origination, servicing, and collections know-how with NovoPayment’s API-based issuing processing.
Utah-based LoanPro made its Finovate debut at FinovateSpring in 2021.
Fashionable credit score platform LoanPro and monetary infrastructure supplier NovoPayment have introduced a partnership to assist increase entry to credit score in Latin America. The 2 corporations will give monetary establishments and fintechs all through the area an built-in, end-to-end infrastructure that may help credit score and lending merchandise of nearly any class.
The combination will give FIs and fintechs entry to a set of options to spice up their very own credit score choices. These options embody LoanPro’s Transaction Degree Credit score product, which facilitates the task of distinctive reimbursement phrases, charge buildings, and rates of interest to particular person transactions. This helps establishments provide clients customized credit score options, and allows completely different classes of transactions to characteristic completely different rates of interest and monetary phrases.
FIs and fintechs can even profit from NovoPayment’s cloud-native platform that places real-time processing, strong safety, event-driven structure, and an API-first strategy to work to ship low-latency transactions and automatic failover. This additional helps the power of corporations to supply personalized credit score options.
“Entry to credit score is a cornerstone of true monetary inclusion,” NovoPayment CEO Rodrigo Rodas stated. “NovoPayment’s trajectory has been outlined by our dedication to bridging monetary gaps by means of modern infrastructure options. Partnering with LoanPro allows us to empower monetary establishments and fintechs throughout Latin America, offering them with the instruments to supply numerous credit score merchandise and foster financial development within the area.”
The partnership between LoanPro and NovoPayment comes at a time when modernization in banking and monetary providers infrastructure in Latin America is more and more lagging behind the enlargement of the monetary providers market as a complete. In a press release, the businesses famous that whereas monetary inclusion in Latin America has made important features from 2021 to 2024, with 28% of adults reaching an “superior stage of economic inclusion,” thousands and thousands nonetheless lack entry to trendy credit score and lending options. This problem is all of the extra acute as a result of incapacity to scale these merchandise monetary establishments do provide. The combination of NovoPayment’s issuing processing with LoanPro’s credit score ledger and origination, servicing, and collections options immediately addresses these challenges.
“NovoPayment has been on the forefront of enabling monetary innovation throughout Latin America, and their work aligns completely with LoanPro’s mission to modernize credit score,” LoanPro CEO and Co-Founder Rhett Roberts stated. “By bringing LoanPro’s lending know-how into NovoPayment’s ecosystem in Latin America, we’re giving monetary establishments and fintechs the instruments they should provide credit score with confidence and compliance on the core.”
A number one fee processor for markets all through Latin America, NovoPayment allows companies and monetary establishments to launch and scale their digital banking and fee choices. The corporate processed greater than 310 million transactions in 2024 and operates in 15 markets. Based in 2007, NovoPayment is headquartered in Miami, Florida, and has places of work in Mexico, Colombia, Peru, and Ecuador.
LoanPro made its Finovate debut as a part of our all-digital FinovateSpring convention in 2021. That very same yr, the corporate additionally participated in our builders convention, FinDEVr 2021. Headquartered in Farmington, Utah, and based in 2016, LoanPro serves greater than 600 monetary organizations, offering them with a contemporary credit score platform that offers monetary establishments and fintechs the infrastructure to handle lending and credit score applications at scale, together with mortgage origination, servicing, and collections.
FinovateSpring 2025 involves sunny San Diego, Might 7 by means of 9 on the Sheraton San Diego Lodge and Marina. Decide up your ticket at the moment and reap the benefits of early-bird financial savings!
Photograph by Enrique from Pexels
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