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Verrency extends its global reach with Banco Davivienda partnership

Banco Davivienda, one of Colombia’s largest banks, has signed an agreement with global payments innovator Verrency to be a launch partner in Latin America. The deal enables Banco Davivienda to leverage the Verrency platform to rapidly trial and launch new card programs, payment services and fintech partner solutions to its consumers and small business customers.

Banco Davivienda joins Verrency’s growing list of financial institution clients recognized as innovation leaders in digital transformation around the world. The list includes banks such as Emirates NBD’s Liv., the fastest growing bank in the UAE targeting millennials through lifestyle-based banking experiences; Volt Bank, Australia’s first independent 100% digital bank; UnionPay, Asia’s largest cards network; an as-yet-unnamed Tier 1 US bank; and now, Banco Davivienda in Latin America. Davivienda is widely recognized as one of the largest and most innovative banks in Latin America, and also operates DaviPlata, the largest P2P and G2P (Government to Person) service in Latin America.

“What excites us is working with some of the most innovative banks around the globe to rapidly deliver new innovations, all through their existing legacy systems,” said Joe Lynam, President of Verrency Americas. “Davivienda is an ideal fit and we’re pleased to be working with such a forward-driving team as they look to dramatically enhance their customers’ experience.”

The agreement provides Davivienda the ability to rapidly trial and implement a series of value-added card, wallet and IOT consumer payment solutions including pay-with-points (at any merchant), merchant funded offers, round-ups (to savings, charity or investment), gamification and card controls, among others.

Both Verrency and Banco Davivienda are active global participants of Plug and Play Tech Center, with Verrency being the first FinTech to be selected for three Global Plug and Play locations. “We are excited that such innovative partners such as Banco Davivienda and Verrency are working together to drive payments innovation in South America – and that Plug and Play was instrumental in connecting the two of them,” said Andrea Sanchez, Plug and Play Tech Center.

“Working in partnership with Verrency, a startup with an absolutely innovative offer, has made a perfect match with our vision of innovating to enhance people’s lives and make life much better, thanks to our great partnership with Plug and Play Tech Center,” said Oscar Rodriguez, Innovation VP for Davivienda.

About Banco Davivienda
In Davivienda we believe in a simple, warm, easy financial world, capable of generating experiences that brighten and delight life. For this reason, through innovations, we develop solutions to satisfy the real needs of more than 10 million customers, surprising them, adding value to their environment and looking for greater financial inclusion.
Davivienda, a Colombian bank, belongs to Bolívar Business Group and since 1972 has devoted its efforts in innovating to enrich with integrity the heritage of individuals, families and companies, as well as to support the development of the rural sector and generate value to society in a sustainable manner . Today we have operations in PanamaCosta RicaHondurasEl Salvador and Miami in the United States.

About Verrency
Verrency puts card issuers/ financial institutions back at the centre of innovation. Verrency’s payments innovation platform helps issuers to acquire and retain customers and increase card spend while increasing security, control and connectability. Verrency works behind the scenes to enable an ever-increasing range of value-added services for an issuer’s customers quickly and easily without major changes to existing payments infrastructure or the need to integrate to point-of-sale systems. Verrency also enables rapid connection to third-party fintech services via its FinTech marketplace with little to no integration. www.verrency.com

Oliver Smith

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