By: Mario Ernst
Since September 2013, Evolution Labs has had a strategic alliance with Finconecta, the US-based technology platform that is a leader in enabling Open Finance, enabling accelerated monetisation of digital business models. Through its Developer Portal, Finconecta makes available sets of APIs that allow financial institutions to connect with fintechs or other technology partners to build new businesses together.
This alliance is fundamental, because it allows us to have cutting-edge technology to implement our open finance and open innovation consultancy. We have experience developing projects in several countries in the region with important institutions and also have close links with academia for the development of Fintech and Open Finance knowledge in Chile and Argentina, as well as a direct relationship with the financial innovation ecosystem in Latin America and the UK, which together, allows us to provide our clients with the 4 key elements to take advantage of the new wave of changes in the industry:
- Knowledge of the financial industry and new technologies.
- Expertise in Financial Consulting and Innovation
- Enabling Technologies
- International Solution Scouting Network
As for the next steps in the Finconecta – Evolution Labs relationship, we can comment that we are moving forward with several joint processes in different financial institutions, which allows us to strengthen the relationship and expand it throughout the region. In theory, Chile, given its regulatory change, should be the country where there is most progress, however, this is not necessarily the case, as in other countries that do not have regulation, leading institutions are already making progress in the implementation of Banking as a Service, for example, monetising their digital assets and customer portfolios, which means that our focus is not only on Chile but also on the whole region.