We communicate that we signed a partnership contract with Sensedia S.A. (“Sensedia”) to facilitate the implementation of the open banking* in Brazil.
In this partnership, which comprises of the commercial and technical co-op between the two leading companies in their respective markets, (i) the Company will contribute with its wide platforms for Banks, Funds, Pension and Consortium, used by almost 500 financial institutions, and (ii) Sensedia will contribute with its recognized platform of APIs management, used by more than 120 clients.
The open banking represents an important disruption in the market, which will significantly expand the number of players offering financial services in Brazil. This disruption will demand from financial institutions, faster, more convenient, and safer external connections. Therefore, the strategic partnership with Sensedia strengthen the innovative position of the Company and results in a new growth opportunity.
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*Open banking allows financial services clients to share its information between diverse institutions and maintain its bank accounts through different applications. In the open banking model, institutions will connect directly to other institutions platforms and access clients’ authorized data.