LoanPro and NovoPayment have teamed as much as assist develop entry to credit score for shoppers in Latin America.
The partnership integrates LoanPro’s credit score ledger and origination, servicing, and collections expertise 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 enhance entry to credit score in Latin America. The 2 corporations will give monetary establishments and fintechs all through the area an built-in, end-to-end infrastructure that may assist credit score and lending merchandise of nearly any class.
The mixing will give FIs and fintechs entry to a collection of options to spice up their very own credit score choices. These options embrace LoanPro’s Transaction Degree Credit score product, which facilitates the project of distinctive reimbursement phrases, price buildings, and rates of interest to particular person transactions. This helps establishments supply clients customized credit score options, and permits completely different classes of transactions to characteristic completely different rates of interest and monetary phrases.
FIs and fintechs may even profit from NovoPayment’s cloud-native platform that places real-time processing, strong safety, event-driven structure, and an API-first method to work to ship low-latency transactions and automatic failover. This additional helps the flexibility of corporations to supply custom-made credit score options.
“Entry to credit score is a cornerstone of true monetary inclusion,” NovoPayment CEO Rodrigo Rodas stated. “NovoPayment’s trajectory has been outlined by our dedication to bridging monetary gaps via progressive infrastructure options. Partnering with LoanPro permits us to empower monetary establishments and fintechs throughout Latin America, offering them with the instruments to supply numerous credit score merchandise and foster financial progress 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 growth of the monetary providers market as a complete. In an announcement, 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 stage of monetary inclusion,” thousands and thousands nonetheless lack entry to trendy credit score and lending options. This difficulty is all of the extra acute because of the lack of ability to scale these merchandise monetary establishments do supply. The mixing of NovoPayment’s issuing processing with LoanPro’s credit score ledger and origination, servicing, and collections options instantly 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 stated. “By bringing LoanPro’s lending expertise into NovoPayment’s ecosystem in Latin America, we’re giving monetary establishments and fintechs the instruments they should supply credit score with confidence and compliance on the core.”
A number one fee processor for markets all through Latin America, NovoPayment permits companies and monetary establishments to launch and scale their digital banking and fee 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 packages at scale, together with mortgage origination, servicing, and collections.
FinovateSpring 2025 involves sunny San Diego, Could 7 via 9 on the Sheraton San Diego Lodge and Marina. Decide up your ticket at this time and benefit from early-bird financial savings!
Photograph by Enrique from Pexels
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