Brazil: Banco Fibra announces partnership with Red Ventures

This is a machine translation of Brazil's Banco Fibra's press release

To expand its focus on new business opportunities, Banco Fibra, which for more than three decades has been delivering financial solutions to the wholesale market, announces a partnership with Red Ventures, a global technology company with 20 years of experience in digital sales and marketing .

Based on the concept of Embedded Finance, that is, integrated finance, the movement aims to strengthen the institution's SME pillar, providing personalized services that are much more targeted to the needs of its customers through a more agile and accessible process. With this, Fibra hopes to attract a new public that it did not attract until then, expanding its field of action and becoming even more competitive.

In this sense, the new strategy envisages the offer of products, which have never been commercialized digitally, in a scalable way and through a fluid and customized experience, connecting customers and suppliers of the Banco Fibra ecosystem. The expectation of both companies, after five years of partnership, is to attract 15 thousand new customers with a portfolio of R＄ 1 billion. The first year will be dedicated to the set up, where the entire process will be digitized.

According to Banco Fibra's Commercial Director, Rodrigo Bueno, Red Ventures arrives to modernize the brand, enhancing its ability to prospect and offer products and solutions. “Red Ventures places us at a higher level in the market, strategically challenging us so that our entire infrastructure improves to the point where we feel comfortable going out to sea”, he declares.

For Dioscoro Gomes, Vice-President of Red Ventures, Fibra will provide the company with an unprecedented opportunity: to conquer space in the SME segment by offering credit to the bank's customers. “We only partner with those we see a connection with, in order to add value for both sides. Our business is to co-invest in technology and take risks together with our partners. In this sense, we strongly believe in the potential of Fibra”, explains the executive.

About Banco Fibra

Fibra is a B2B bank that offers solutions with precision and speed, prioritizing security and knowledge based on an agile and humanized service, in an environment of trust and transparency. . Acting nationwide, it concentrates its business in the following segments: Corporate, Agribusiness, Middle Market and SMEs, offering financial solutions such as Credit Operations (Working Capital, Company Checks and others), Advances to Suppliers, Derivatives, Foreign Exchange, Capital Markets , in addition to Current Account services for Legal Entities, Bank Collection and Payment to Suppliers . Fibra belongs to Grupo Vicunha, which has corporate control of CSN, Vicunha Têxtil and Fibra Experts.