Fintech transfers its credit card portfolio to cloud
infrastructure in only five months
BRISTOL, England, July 25, 2024 /PRNewswire/ -- alt.bank,
whose novücard is Brazil's only
credit card with automatically increasing limits, migrated its
legacy credit card infrastructure to Pismo in just five months.
alt.Bank was created in 2019 by the anglo/american technology
entrepreneur Brad Liebmann with the
objective to bring transparent and fair lending practices to the
Brazilian credit card market. The fintech chose Pismo's
cloud-native platform to boost its operations and expand the range
of services available to its customers via the Visa
credentials.
"To enable the delivery of the services we are creating, we need
flexible, up-to-date, and reliable technology. We found the ideal
partner in Pismo," says Brad
Liebmann, founder and CEO at alt.bank.
The project was completed without dependency on the previous
operator and without service interruptions for cardholders.
"On Pismo's platform, we selected the microservices that made
sense for our operation, and we didn't have to wait in line for
developments, as we did before. This allowed us to migrate in
record time.", complements.
novücard is the first card in Brazil to offer a dynamic credit limit that
automatically increases month by month as bills are paid on time
and in full. Taking advantage of the Pismo platform, the fintech
plans to launch several new product features for novücard – some of
which will be novel to Brazil – by
the end of the year.
"alt.Bank is simplifying access to financial products to its
clients. And operational efficiency is pivotal for the success,"
says Rodrigo Melato, VP of Global
Sales and Customer Success at Pismo. "By offering cutting-edge
technology in small blocks, Pismo simplifies how clients manage
technology. Pismo offers more than 600 endpoints, what helps keep
costs under control and give clients authonomy to be in charge of
their infrastructure," he concludes.
alt.bank is Brazil's fastest
growing direct credit card issuer and received more than
$30 million in investment - led by
New York-based Union Square
Ventures. It is the first investment in South America for USV, considered the most
successful Series A investor in the world. At the heart of the
alt.Bank is its GUARD credit engine – Brazil's most accurate – which is also used by
other Brazilian lenders via partnerships.
Pismo, which was acquired by Visa International earlier this
year, continues to play a key role in the transformation and
modernisation of the financial segment landscape. Pismo provides
clients with comprehensive core banking and card-issuer processing
capabilities across all product types through cloud native
APIs.
About Pismo
Pismo is a technology company that provides a complete
processing platform for banking, card issuing and financial market
infrastructure. Large banks and fintechs use our cloud-native
microservices platform. Our clients have created state-of-the-art
solutions while migrating their legacy systems to the most advanced
technology. We enable companies to build and launch new products
and services quickly. Our platform allows you to scale systems as
your business grows, while maintaining high standards of security
and availability.
About alt.bank
The mission of alt.bank is to improve the lives of a
billion people through financial justice. Founded with a
comprehensive social commitment, alt.bank launched the novücard in
July 2022, offering fair and
transparent interest rates to Brazilians. With more than
$30 million in investments led by
Union Square Ventures, the company is well-positioned to continue
its trajectory of growth and positive social impact.
Media contact
Pismo
Patricia Bartuira
+1 (786) 270-6253
patricia@bmcsmart.com
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