The future will be that of a new banking sector focused on services and transactions

“Either the banks set up a different business model or they will see how the bullet train passes them by,” says Pablo Pereyra, CRO of 2Innovate.

In the post-pandemic world, the interaction between banks and financial institutions with their customers was transformed, especially in terms of the dynamics of monetary transactions. Based on this new reality, 2innovate launched for the regional market Frame Banking, (formerly PTS Banking), the SaaS platform that promises to boost innovation in financial systems in Latin America, simplifying and accelerating the global flow of money, and boosting the entire life cycle of digital transactions. Pablo Pereyra talks about this transformation. He is the Chief Revenue Officer of 2innovate, a Uruguayan company that has been growing in Latin America, with offices in Uruguay, the United States, Argentina and Mexico.

How do we transact today, and what needs did you find in this universe to generate the 2Innovate Frame Banking proposal?


What we identified from the moment of product conception is the change in people’s behavior, in needs.
From the moment people begin to identify that banks or fintechs should accompany them in their needs and stop thinking of the bank or fintech only as a place to keep money or where to take out a loan. They need financial institutions that are next to customers, supporting them with services.

In that aspect, when one thinks of services one thinks of the world of transactions, because what does a service mean if there is no transaction behind? With the arrival of the pandemic, many paradigms were broken and the need to have the transaction helping people solve their day-to-day needs accelerated.

The banking of the future has arrived. We have a Saas platform in the cloud, Frame Banking, whichplaces the transaction at the center of the universe, and what allows financial institutions to have agility, to offer more products and services, because we have seen that the fintech world has evolved a lot, but very focused on the user experience. Not so much in financial experiences. Our value proposition is
based on that, putting the transaction at the center, thinking about building a next-generation payment system that is not interacting with an ATM, it is thinking about how transactions help people and how the bank or fintech monetizes that, because in the end they have to make money by being different, offer services and have a profitable business.

Is it time for banks to improve services around transactions?


Totally. The truth is that people’s behavior, their needs, our culture have changed. The world is changing, and banks and fintech companies are realizing that. Historically, they thought that this was solved by changing their banking core. For example, the core platforms within banks are very focused on accounts and loans, but who has an approach to resolving transactions? That’s where Frame Banking comes in, a platform designed to solve that. Being SaaS and in the cloud not only allows you to solve many use cases of transactions such as loan payments, remittances, wallet transfers, card payments, interbank transfers, and international transfers, but it allows you to handle the task of linked business, handling the issue of operational reconciliations, all that complicated work that someone always has to solve we solve. Today financial institutions have many systems to solve what we solve with one.

How does this value proposition support financial inclusion?


With each of the 7 billion transactions we process per year in Latin America, we are changing people’s lives. Today in markets like Guatemala the opportunities are great. There are the people who do not use cash—the ones who pay for everything with their cell phones and can travel the world without using cash, and the people who move in an environment where only cash is used. This digital world opened an important gap, and we are here to generate spaces of coexistence, to generate ecosystems, we must draw bridges so that these worlds do not separate more and more, but so that they coexist.

Opportunities in Central America


In Central America, 2innovate is advancing with several projects.

“We had worked through partners. Today we have landed in Central America and the Caribbean with direct clients. In Panama, we already have the first bank, we have clients in Jamaica, we are making an alliance with 5B in Guatemala with spectacular expectations, transforming the financial services industry, so that customers can reach that financial services highway that will help so much in progress and in evolving and solving people’s needs of both people and companies and SMEs,” Pereyra said.

2innovate points to three levers of value in its proposal.

The first is ecosystems, “it is very difficult for there to be any digital initiative in any segment of business banking, personal banking, that does not have to be connected to be successful. The second is the transaction, which is the queen. And the third lever is efficiency, as today everyone seeks results.

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