"A Uruguayan company will be able to make a payment to a supplier in Germany with the same speed as a company in Germany making a payment in the same country," were the summary words of Alfred Nader, Vice President of Western Union Business Solutions for Latin America and the Caribbean.
Western Union Business Solutions (WUBS) announced a partnership with Uruguayan startup Manentia to provide banks and their customers in Latin America with greater access to international payment services.
The partnership will enable access to WUBS' international payments infrastructure for Manentia's banking clients in the region, providing them with faster and easier international transfer services in over 130 currencies. Banks using Nazca, Manentia's most widely used virtual banking platform, will be able to facilitate payments for their corporate clients.
"The fact that Manentia is directly focused on digital innovation in banking made our collaboration ideal," said Alfred Nader. The executive added that SMEs, especially, need to have the means of transaction available 24 hours a day.
For her part, the CEO of Manentia, Claudia Fernandez, explained the difficulties that arise for foreign transactions. "On the internet there are even schedules to make payments and transfers abroad; with this alliance, the infrastructure of WUBS allows the customer to choose when they want to make the transaction.
The Uruguayan company emerged in 2003 designing digital products for banks and currently has a presence in seven countries in the region. "We are in the midst of expansion and having Western Union as a partner will help us reach our customers with a better service," said Fernandez.
More backward
WUBS Vice President Nader commented that Latin America has not yet achieved good access to payments infrastructure. "Just having a website is not enough; you have to give the client access to technology," he said.
For her part, Manentia's CEO explained that financial regulations in each country slow down the incorporation of technology into banking processes. "Adapting to the regulatory compliance of the financial sector in each country involves development time," he said.
Source: Portal El Observador
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