LatamList – Celcoin, a Brazilian fintech, launched its open banking services which will be operational from November 30th. The fintech developed its online banking tools following a $4.3M (R$23M) funding round in October.
Celcoin is an online platform that uses API technology to help company’s manage and centralize their clients’ financial transactions. The startup currently serves around 130 clients, including more than 20 banks, 8 major companies, and many fintechs throughout Brazil.
The new open banking services will allow banks and fintechs to easily share their bank statements, credit card bills, credit agreements, and previous bills with their financial institution in order to manage future bill payments.
“With this new service we want to offer our clients the opportunity to understand the best way to use their data,” said Marcelo França, co-founder and president of Celcoin.
The startup is also in the process of obtaining a fintech license to act as the initiator of payment transactions. With this authorization, Celcoin will be able to coordinate bank transfers and to access the investment balance information of clients.
The new banking services will be offered free of charge for the next two months until February 2021.
Read more on Exame.