February 7, 2022 – Toronto, Ontario – Newt Corporation (“Newt” or the “Company”), an integrated platform for digital financial services, today announced that it has entered into a service agreement (the “Agreement”) with Belvo (“Belvo”) Open Banking API Platform to service its lending-as-a-service (“LaaS”) offering across North America.
Under the terms of the Agreement, Belvo provides Newt with a technical integration software for bank data aggregation, an access to standardized transactional data from individuals and bank accounts, as well as the ability to retrieve account holder information. With this integration, Newt will boost its risk assessment and underwriting capabilities with faster and higher-quality data.
Newt’s system processes real-time data to simplify accounting and reconciliation procedures for regulatory compliance and settlement functions, further simplifying onboarding for new clients by accessing real-time financial data during verification processes.
“This is an exciting collaboration for Newt as we continue to integrate top-of-the-line control systems into our new lending processes,” said Sergio Maya Aleman, Newt’s Latin American CEO. “Compliance and transparency with all of our business verticals is paramount, and Belvo’s platform enables us to have vital reconciliation capabilities. The integration process with Belvo has been highly efficient, and we are confident that this partnership will provide better financial services to our clients across North America.”
Pablo Viguera, Co-CEO of Belvo, stated: “We are very pleased with this new collaboration. For us it is crucial to be the enabler of financial innovations in Latin America, and we are confident that Open Banking will be a vital tool to provide better financial services in this region.”
Newt Corporation is a digital payment and financial services platform enabling enterprises to serve the large underbanked population in the Americas with digital financial products and services and access to credit. Newt provides a fairer, faster, accessible ecosystem that fills the credit accessibility gap and reshapes the way businesses and consumers save, move money and conduct commerce. The Company’s financial ecosystem offers mobile and digital bill payments, cross-border money transfers, digital wallet, prepaid stored value cards, and access to a large leading catalogue of digital gift cards and subscription services. Newt’s omnichannel distribution and processing capability allows consumers to conveniently connect through mobile, web, point-of-sale and Newt branded electronic payment center kiosks located across a network of merchant locations. Newt is also bringing credit financing for small to medium sized enterprises, payroll loans for consumers, credit cards, loan financing, and other credit services for those who lack access to traditional financing.
For more information, visit www.newtfinancial.com.
Belvo is the leading Open Finance API platform in Latin America, founded in May 2019 by Pablo Viguera and Oriol Tintoré. The company enables Fintechs and innovative financial institutions to access and interpret their users’ financial data to create more modern, accessible, and inclusive products. Belvo’s API currently provides connections with over 50 financial institutions in Mexico, Brazil, and Colombia, servicing over 125 clients. The company is backed by some of the world’s leading venture capital funds, including Kaszek, Founders Fund, Future Positive, and Kibo Ventures, and has received a total of $56 million in investment to date.
For more information, visit www.belvo.com.
Certain information set forth in this news release may contain forward-looking information that involve substantial known and unknown risks and uncertainties. This forward – looking information is subject to numerous risks and uncertainties, certain of which are beyond the control of the Company, including, but not limited to, the impact of general economic conditions, industry conditions and dependence upon regulatory approvals. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking information. The parties undertake no obligation to update forward – looking information except as otherwise may be required by applicable securities law.