Biz is looking to accelerate the creation of digital banking in an almost "self-service" model in Brazil

November 17, 2022
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Founded 17 years ago as a card processor, Biz - a company controlled by Érico Ferreira, founder of the Omni finance company - has been expanding its operations in recent years.

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It has gone into banking as a service (BaaS), started offering credit cards as a service, and is now looking to accelerate the creation of digital banking for its customers, in an almost "self-service" model. The exclusive report is from partner site Finsiders.

The fintech is in the final stages of putting its "all in one" platform online, which will allow companies from different sectors to build their digital banks on a single platform (web and mobile), as well as manage the products and services contracted, such as payment accounts, virtual cards and applications.

"Today, companies looking for a BaaS solution, including ours, depend on commercial contact, not to mention the whole setup process through the back office team. What we want is to break this barrier, creating for the company an experience as simple as what an individual has with digital banking," explains Douglas Barrochelo, CEO of Biz, to Finsiders.

Currently, Biz offers solutions from issuing and processing cards (Visa flag), through anti-fraud, electronic payment of freight and toll tag (in partnership with ConectCar), to credit as a service - the latter in partnership with Omni Banco & Financeira.

According to Douglas, one of the differentials in relation to other BaaS players is that Biz offers the technology and also takes care of the necessary licenses with the regulatory agencies. "We don't need to 'outsource' our work. We are issuers, we have technology and licenses. So we can be more flexible and also more competitive in terms of costs and pricing because we exclude intermediaries," he argues.

With 7.5 million active cards, Biz says it processes more than R$15 billion per year in more than 100 million transactions. The portfolio currently includes 34 clients from different segments. "This year alone we have closed 16 new clients," says the executive. The business, he says, grew 50% between 2021 and this year, in terms of revenue and total volume processed (TPV). "From 2020 to here, we grew more than 200%," he says.

One of the big names served by Biz is Ser Educacional, which recently received authorization to operate a Direct Credit Society (SCD) and is starting to offer financial products and services to its ecosystem, through the digital bank b.Uni. Its customer base also includes beBlue, Extratta, PagBem, Trigg, Uze, and others.

Next year, in addition to completing the delivery of the all-in-one platform, Biz plans to move into credit. In this segment, the fintech currently has six clients using its "credit card as a service" solution, in the white-label model, the result of a partnership with Omni - which handles funding, banking and collection, while Biz issues and processes the cards.

Another focus is the benefits market. "The companies will enter the 'all in one' platform, they will already have a HR portal, and then they will just need to load the accounts and make the distribution of values and the payment of benefits for employees, with a Visa card," says the executive.
Market

Competition is not lacking for Biz. The list of players that offer banking as a service (BaaS) solutions is long and includes names such as BMP, Bankly, Celcoin, Dock, FitBank, Matera (which has a partnership with Biz through its IP, Flagship), QI Tech, Swap, Zoop, among others.

Traditional financial institutions, such as BV, BTG Pactual, Itaú, Original and ABC Brasil, are also betting on a BaaS strategy and its derivations, such as CaaS (credit as a service), to increase revenue lines, reach new customer profiles and enter new segments.

According to data from IMR Prospective Market Research, Brazil represents 73% of the BaaS market in South America, with a revenue of US$ 1.4 billion in 2021. A study by Juniper Research indicates that the total revenue of BaaS globally will pass US$ 38 billion by 2027.

Full Article in Fintechbrasil

Las opiniones compartidas y expresadas por los analistas son libres e independientes, y de ellas son responsables sus autores. No reflejan ni comprometen el pensamiento u opinión de Latam Fintech Hub, por lo cual no pueden ser interpretadas como recomendaciones emitidas por la platafomra. Esta plataforma es un espacio abierto para promover la diversidad de puntos de vista sobre el ecosistema Fintech.

It has gone into banking as a service (BaaS), started offering credit cards as a service, and is now looking to accelerate the creation of digital banking for its customers, in an almost "self-service" model. The exclusive report is from partner site Finsiders.

The fintech is in the final stages of putting its "all in one" platform online, which will allow companies from different sectors to build their digital banks on a single platform (web and mobile), as well as manage the products and services contracted, such as payment accounts, virtual cards and applications.

"Today, companies looking for a BaaS solution, including ours, depend on commercial contact, not to mention the whole setup process through the back office team. What we want is to break this barrier, creating for the company an experience as simple as what an individual has with digital banking," explains Douglas Barrochelo, CEO of Biz, to Finsiders.

Currently, Biz offers solutions from issuing and processing cards (Visa flag), through anti-fraud, electronic payment of freight and toll tag (in partnership with ConectCar), to credit as a service - the latter in partnership with Omni Banco & Financeira.

According to Douglas, one of the differentials in relation to other BaaS players is that Biz offers the technology and also takes care of the necessary licenses with the regulatory agencies. "We don't need to 'outsource' our work. We are issuers, we have technology and licenses. So we can be more flexible and also more competitive in terms of costs and pricing because we exclude intermediaries," he argues.

With 7.5 million active cards, Biz says it processes more than R$15 billion per year in more than 100 million transactions. The portfolio currently includes 34 clients from different segments. "This year alone we have closed 16 new clients," says the executive. The business, he says, grew 50% between 2021 and this year, in terms of revenue and total volume processed (TPV). "From 2020 to here, we grew more than 200%," he says.

One of the big names served by Biz is Ser Educacional, which recently received authorization to operate a Direct Credit Society (SCD) and is starting to offer financial products and services to its ecosystem, through the digital bank b.Uni. Its customer base also includes beBlue, Extratta, PagBem, Trigg, Uze, and others.

Next year, in addition to completing the delivery of the all-in-one platform, Biz plans to move into credit. In this segment, the fintech currently has six clients using its "credit card as a service" solution, in the white-label model, the result of a partnership with Omni - which handles funding, banking and collection, while Biz issues and processes the cards.

Another focus is the benefits market. "The companies will enter the 'all in one' platform, they will already have a HR portal, and then they will just need to load the accounts and make the distribution of values and the payment of benefits for employees, with a Visa card," says the executive.
Market

Competition is not lacking for Biz. The list of players that offer banking as a service (BaaS) solutions is long and includes names such as BMP, Bankly, Celcoin, Dock, FitBank, Matera (which has a partnership with Biz through its IP, Flagship), QI Tech, Swap, Zoop, among others.

Traditional financial institutions, such as BV, BTG Pactual, Itaú, Original and ABC Brasil, are also betting on a BaaS strategy and its derivations, such as CaaS (credit as a service), to increase revenue lines, reach new customer profiles and enter new segments.

According to data from IMR Prospective Market Research, Brazil represents 73% of the BaaS market in South America, with a revenue of US$ 1.4 billion in 2021. A study by Juniper Research indicates that the total revenue of BaaS globally will pass US$ 38 billion by 2027.

Full Article in Fintechbrasil

Las opiniones compartidas y expresadas por los analistas son libres e independientes, y solamente sus autores son responsables de ellas. No reflejan ni comprometen el pensamiento o la opinión del equipo de Latam Fintech Hub y, por lo tanto, no pueden interpretarse como recomendaciones emitidas por la plataforma. Esta plataforma es un espacio abierto para promover la diversidad de puntos de vista en el ecosistema Fintech.
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