Alfintech: The Bank for Fintech Companies in Peru

Peruvian fintech companies face a number of challenges on their path to consolidation and growth in the financial market.

These include adapting to an evolving regulatory environment, competing with traditional banks, building trust in an emerging industry, promoting financial education, and the need to increase technological adoption among the population. These factors play a key role in the development and adaptability of fintech companies.

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In this context, Alfintech, a new division of Alfin Banco, provides solutions specifically designed to drive the success of Peruvian fintech companies

“Alfintech goes beyond traditional banking services: we provide fintechs with services through APIs (Application Programming Interfaces) that allow them to create financial products and payment methods in an agile, effective, and secure manner. This provides them with support and technology through applications and digital platforms,” explained Guillermo Nalvarte, Manager of Banking as a Service and Means of Payment.

In line with this purpose, Alfin Banco recently established a strategic alliance with the Peruvian Fintech Association. This joint work agreement will allow them to be the strategic ally that offers a wide range of services including deposit accounts, payments, liquidity management, and access to financing for fintechs. Through advanced algorithms, it customizes its solutions and guarantees efficiency in all transactions.

“We want to be a facilitator of fintech innovation in Peru. Close collaboration with this segment is key to driving innovation in the financial sector. Therefore, our proposal offers what we call the ‘triple A value offer’: Access through the ease of obtaining products and services from a bank, Agility: through APIs with secure connection, and Savings: because the time and investment gaps are reduced,” said Nalvarte.

Allies to transform the electronic payments ecosystem

In this regard, Gilberto Chaparro, General Manager for Visa Peru highlighted the history of collaboration with Alfin Banco and celebrated the launch of Alfintech, which was founded as a solution to the demands of the market where fintech plays a key role in the development of digital payment ecosystems.

“Visa works in collaboration with the fintech sector to continue transforming the electronic payments industry and we are confident that we can work with Alfin Banco for this common purpose,” he said.

In this way, the launch of Alfintech marks a turning point due to its focus on technology, innovation, and support for fintech companies. This business unit has the potential to catalyze the digital transformation of the financial sector and improve financial inclusion in Peru.

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(Featured image by pvdberg via Pixabay)

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First published in Economia. A third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.

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