Druo Processes $50 Million in International Transactions

The increasing digitalization of the financial ecosystem has given rise to a number of innovative technological solutions, especially in the payments sector, where companies suffer from a lack of automation and high costs. As a result of this situation, new solutions like Druo, have emerged that simplify these processes, make them more economical and, most importantly, integrate more actors.

Precisely, PwC’s Payments 2025 & Beyond report indicates that the increase in digital payment operations will be one of the strongest trends in the market, exceeding three billion transactions by 2030.

It was in this scenario that Druo, a Colombian fintech company, was founded. Druo created a network of global bank accounts to simplify financial processes and give greater collection control to companies in all economic sectors , allowing them to collect or receive local or international payments directly from their bank accounts, at any time, with less time. waiting time and low costs.

In practice, through its platform, a company can debit a bank account and receive confirmation or authorization in real time or on the same day and access resources in the next 24 to 48 business hours once the operation is completed, while in traditional systems this same process can take up to 5 business days.

According to Alejandro Pinzón and Simón Pinilla, founders of Fintech, “Druo’s vision is to make it easier for any company or person to pay from their bank account, even internationally, without having to use a credit or debit card. “Our purpose is to provide access to the global and modern economy with just a bank account or digital wallet so that, for example, a person in Colombia can pay for global services such as Uber, Netflix or Amazon, which is currently impossible without plastic.”

Druo created a network of global bank accounts to simplify financial processes

Druo said that this new payment model has more than 1,000 million bank accounts available in its network of banks in Colombia, Mexico, Peru and the United States. Likewise, the volume of its transactions has grown by more than 20% month after month, exceeding US$50 million processed in two years. Likewise, during this same time, more than 400,000 users have paid for products or services from companies in the region using their technology, which has the highest security standards.

According to Pinzón and Pinilla, the novelty in their model is returning to the traditional financial product that is bank accounts, to make transactions simpler, eliminating intermediaries and complex procedures, thus reducing the costs of these operations.

“To achieve this goal, we went back to the basics: the bank account. This is the place where the real value is stored, which is why we built an international network to connect all the accounts. The money in our network moves from the source account to the destination account, hence the term account-to-account payments,” they said.

__

(Featured image by Firmbee via Pixabay)

DISCLAIMER: This article was written by a third party contributor and does not reflect the opinion of Born2Invest, its management, staff or its associates. Please review our disclaimer for more information.

This article may include forward-looking statements. These forward-looking statements generally are identified by the words “believe,” “project,” “estimate,” “become,” “plan,” “will,” and similar expressions. These forward-looking statements involve known and unknown risks as well as uncertainties, including those discussed in the following cautionary statements and elsewhere in this article and on this site. Although the Company may believe that its expectations are based on reasonable assumptions, the actual results that the Company may achieve may differ materially from any forward-looking statements, which reflect the opinions of the management of the Company only as of the date hereof. Additionally, please make sure to read these important disclosures.

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

Although we made reasonable efforts to provide accurate translations, some parts may be incorrect. Born2Invest assumes no responsibility for errors, omissions or ambiguities in the translations provided on this website. Any person or entity relying on translated content does so at their own risk. Born2Invest is not responsible for losses caused by such reliance on the accuracy or reliability of translated information. If you wish to report an error or inaccuracy in the translation, we encourage you to contact us.