Dock, a prominent B2B technology firm in the payment and banking sector from Brazil, has revealed its collaboration with Tenpo, Chile’s premier digital bank boasting over 2.2m clients.
The significant alliance sees Tenpo integrating Dock’s advanced issuing and processing infrastructure for its freshly unveiled credit cards. This new partnership symbolises a considerable leap for Dock as it navigates its expansion journey throughout Latin America.
Established as a B2B technology leader for payments and banking, Dock presently manages over 70m active accounts and oversees transactions surpassing $240bn annually. Beyond Brazil, Dock’s influence stretches across countries including Mexico, Argentina, Colombia, Ecuador, Peru, Panama, and the Cayman Islands. With its sights set on Latin America, Dock aims to capitalise on a prospective $16bn Banking as a Service market and a $2.5bn niche in card processing.
Emerging as Chile’s predominant digital banking entity, Tenpo is stepping up its game against traditional banking competitors with the launch of its new credit card. This initiative further cements Tenpo’s status as the topmost digital bank in Chile, offering a comprehensive spectrum of financial goods and services.
The technological prowess acquired by Dock from its Brazilian market, globally renowned for its payments sector, facilitates the easy replication (between 80-90%) of its financial service advancements across Latin America. This positions Dock as an agile mover in extending banking and payment technologies to diverse regions.
Dock, for over two decades, has championed the cause of democratizing financial service access and prioritising financial inclusion, targeting the unbanked and underbanked populace. In the preceding year, Dock witnessed its market valuation soar to $1.5bn post-acquiring $133.6m in its latest funding round.
Dock CEO Antonio Soares commented, “With experience acquired in Brazil, a world leader in payments, we are now able to replicate our financial services advancements across Latin America. Considering the particularities of each country, everything we do in the Brazilian market is 80 to 90% replicable. Our deep knowledge of this space allows us to expedite the availability of banking and payments technologies in other regions.”
Tenpo’s Co-Founder & CEO Fernando Araya remarked, “This milestone represents the result of the hard work of the entire Tenpo team and the consolidation of our company as a relevant player in the Chilean financial market. With the new credit card, we seek to fulfill our disruptive banking objective and compete side by side with traditional institutions. Today in Chile there is no digital account that offers this full range of financial products and services in such a personalised, secure and 100% digital way as Tenpo.”
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