Banks Fintech South America

Afterbanks Launches in Mexico

Afterbanks, the financial technology company that allows retrieving and aggregating data from different banks in real-time through an API and initiating payments in an instantaneous and safe way in Europe and Latin America, has officially landed in Mexico.

Afterbanks, a subsidiary of Minsait, an Indra company, is endorsed by the most strict licenses in the financial industry at a European level, in technical, commercial and security matters to aggregate bank data and initiate payments, and simultaneously comply with the respective legislation, including the fintech law in Mexico.

“The Afterbanks’ arrival to Mexico supposes the advancement of Minsait in the bank aggregation business, the bank data intelligence and the innovation in the financial services in the open banking frame”, said Óscar Díez, Managing Director of Indra Mexico. “Afterbanks complements our capabilities and offer for the financial sector, securing the highest applicable benefits to the different use cases.”

Afterbanks is specialised in bank aggregation and categorisation from bank accounts, helping different financial entities to verify the ownership of the final user, to strengthen the risk management models, and in general to streamline their operations. Among their clients, there are digital lenders, banks, insurers and fintech startups.

“The leap to Mexico has been certainly a natural step given the presence of Minsait and Indra in Mexico; we see in Mexico a market highly attractive by the hundreds of credit institutions to whom we can help to digitise their processes, end-to-end,” said David Lozano, Afterbanks’ CEO.

Afterbanks has over 80 clients worldwide, premises in Mexico, Spain and the United Kingdom. Afterbanks offers current connections with over a hundred banks, including all those who operate in Spain, and those with the highest coverage in Mexico, among them: Citibanamex, BBVA-Bancomer, Scotiabank, Banco Santander, HSBC, Banco Azteca, BanCoppel and Banorte. 

“This is the first step towards a deeper penetration in the Mexican and Latin American markets, where besides the bank data and non-data account aggregation such as utilities data, we plan on enabling invisible payments in a completely safe way as an alternative to the current systems,” added Lozano.

Author

  • Polly is a journalist, content creator and general opinion holder from North Wales. She has written for a number of publications, usually hovering around the topics of fintech, tech, lifestyle and body positivity.

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