Fintech Company Movizzon Launches in Spain to Expand Its Business in Europe

Chilean fintech company Movizzon has launched its service in Spain and has established a hub in Madrid from which it will begin its expansion across Europe.

Movizzon’s specialty is monitoring in real time the operations in digital channels of banks, retail companies and telecommunications, among other sectors, to test the experience of its customers and detect possible failures or incidents, about which it alerts companies in real time before they lead to problems for their users.

Movizzon will collaborate with BBVA in Spain

In Spain and within the financial world, Movizzon starts with BBVA as a client, with which it already works in Latin America. In Chile and Colombia, it has become a standard for banks, also counting Santander and Banco Sabadell among its clients in the region.

Founded in 2015 by Raúl Ibáñez and Antonio Arancibia, the startup Movizzon already operates in 14 countries for more than 60 companies. According to the fintech company, in Europe Movizzon plans to enter markets from Spain such as Italy, Portugal, France, Germany, Holland and the United Kingdom.

Movizzon estimates that its service generates an average saving of 560,000 euros per month for its clients, through early alerts. It has a system and a protocol that ensures that alerts are issued 25 minutes before the traditional review processes that are activated when clients themselves call the companies reporting errors, bad experiences or problems with the procedures.

The service works as if it were another customer who browses and interacts with the company at all times with a real electronic banking account thanks to artificial intelligence and tests the efficiency of the processes with simulations of banking operations (checking accounts, making transfers or payments, etc.).

Movizzon founder and CEO, Antonio Arancibia, values ​​Spain’s strategic location “as a gateway to Europe, with a mature and very attractive market for technology companies” such as Movizzon. “We want to replicate in the Old Continent the good work and excellent results obtained in Latin America and in our international expansion strategy, Spain is the natural path given its stability and proximity to other countries,” he added.

A study by the fintech company Movizzon estimates that 70% of entities face “intermissions” in some part of the user’s navigation process through their digital channels and points out that optimizing their operation “also contributes directly to increasing the profitability of their sales channels” by improving the availability of their products and services.

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(Featured image by Jose Antonio Gallego Vasquez via Pexels)

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

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