LoanPro and NovoPayment have teamed as much as assist increase entry to credit score for shoppers in Latin America.
The partnership integrates LoanPro’s credit score ledger and origination, servicing, and collections know-how with NovoPayment’s API-based issuing processing.
Utah-based LoanPro made its Finovate debut at FinovateSpring in 2021.
Fashionable credit score platform LoanPro and monetary infrastructure supplier NovoPayment have introduced a partnership to assist increase entry to credit score in Latin America. The 2 firms will give monetary establishments and fintechs all through the area an built-in, end-to-end infrastructure that may help credit score and lending merchandise of just about any class.
The combination will give FIs and fintechs entry to a set of options to spice up their very own credit score choices. These options embody LoanPro’s Transaction Degree Credit score product, which facilitates the project of distinctive reimbursement phrases, payment constructions, and rates of interest to particular person transactions. This helps establishments provide prospects customized credit score options, and allows totally different classes of transactions to function totally different rates of interest and monetary phrases.
FIs and fintechs will even profit from NovoPayment’s cloud-native platform that places real-time processing, strong safety, event-driven structure, and an API-first strategy to work to ship low-latency transactions and automatic failover. This additional helps the power of firms to supply custom-made credit score options.
“Entry to credit score is a cornerstone of true monetary inclusion,” NovoPayment CEO Rodrigo Rodas mentioned. “NovoPayment’s trajectory has been outlined by our dedication to bridging monetary gaps via progressive infrastructure options. Partnering with LoanPro allows us to empower monetary establishments and fintechs throughout Latin America, offering them with the instruments to supply various credit score merchandise and foster financial development within the area.”
The partnership between LoanPro and NovoPayment comes at a time when modernization in banking and monetary providers infrastructure in Latin America is more and more lagging behind the enlargement of the monetary providers market as a complete. In a press release, the businesses famous that whereas monetary inclusion in Latin America has made vital good points from 2021 to 2024, with 28% of adults reaching an “superior degree of economic inclusion,” thousands and thousands nonetheless lack entry to fashionable credit score and lending options. This concern is all of the extra acute as a result of incapability to scale these merchandise monetary establishments do provide. The combination of NovoPayment’s issuing processing with LoanPro’s credit score ledger and origination, servicing, and collections options straight addresses these challenges.
“NovoPayment has been on the forefront of enabling monetary innovation throughout Latin America, and their work aligns completely with LoanPro’s mission to modernize credit score,” LoanPro CEO and Co-Founder Rhett Roberts mentioned. “By bringing LoanPro’s lending know-how into NovoPayment’s ecosystem in Latin America, we’re giving monetary establishments and fintechs the instruments they should provide credit score with confidence and compliance on the core.”
A number one cost processor for markets all through Latin America, NovoPayment allows companies and monetary establishments to launch and scale their digital banking and cost choices. The corporate processed greater than 310 million transactions in 2024 and operates in 15 markets. Based in 2007, NovoPayment is headquartered in Miami, Florida, and has workplaces in Mexico, Colombia, Peru, and Ecuador.
LoanPro made its Finovate debut as a part of our all-digital FinovateSpring convention in 2021. That very same yr, the corporate additionally participated in our builders convention, FinDEVr 2021. Headquartered in Farmington, Utah, and based in 2016, LoanPro serves greater than 600 monetary organizations, offering them with a contemporary credit score platform that offers monetary establishments and fintechs the infrastructure to handle lending and credit score applications at scale, together with mortgage origination, servicing, and collections.
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Photograph by Enrique from Pexels
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