RG-Q0070 : NovoPayment: Unlocking Digital Financial Inclusion in Latin America and the Caribbean
Project Status: Implementation
The objective of the project is to help incumbent financial intermediaries (such as banks, microfinance institutions, cooperatives) as well as non-conventional ones (i.e. e-commerce, gig-economy companies, etc.) to deliver improved digital financial services to their clients. To this end, the project will finance NovoPayment, an innovative fintech startup with a Banking as a Service modell. NovoPayment's BaaS platform allows financial service providers to digitize their products in a very short time, helping to improve user experience and productivity in transaction processing. It also allows the end customers remote access to payments and financial products offered by regulated and non-regulated financial service providers, to cover rural areas and small towns, reducing the need for them to approach a physical branch.