Last week we spoke to Antonio Soares, CEO of Brazilian Banking as a Service provider Conductor following the company’s $170m funding round at the end of last year. Already the leading card issuing software platform in LatAm, the company has big plans for further growth in the region.
You can read the full discussion in our article for Forbes, but some key takeaways:
- Conductor is providing banking solutions to organisations too small to start their own banks. Antonio referenced Bill Gates’ famous quote: “banking is a necessity, but banks are not”.
- The company’s modular system allows organisations to scale and bring services in-house over time. The majority of Conductor’s clients rely on the company’s own banking licences.
- This is a strong play in the ever-popular embedded finance space. It enables products that target the region’s under-banked population, in particular allowing smaller consumer facing companies to add banking services.
- Conductor is currently mainly active in Brazil, but sees big potential in other Latam countries. It is expanding to Mexico this year, and also sees strong growth potential in Colombia.