Fintech companies Thredd and Inswitch merge aims to simplify the process of entering the Latin American market for financial services
In a significant move to boost financial technology in the LATAM region, Thredd, a leading next-generation global payments processor, and Inswitch, a global provider of embedded finance technology, have formed a strategic partnership.
Based in Latin America and the U.S., Inswitch operates as a regulated BIN sponsor, offering value-added products and services such as alternative payment methods and core banking solutions. The partnership aims to help global businesses unlock local markets in Latin America without the typical roadblocks of regional expansion.
The collaboration between Thredd and Inswitch brings together global processing power and deep regional knowledge. By integrating their global issuing platform with in-country regulatory and operational infrastructure, the partnership extends Inswitch's reach beyond Mexico and into other LATAM countries.
This integration provides fintech innovators with a scalable, frictionless path to market. It accelerates time to launch and enables local currency (Mexican Peso) and USD card issuance, ensuring a faster and smoother entry into the Mexican market.
Ronald Alvarenga, CEO of Inswitch, emphasised the high activity of the LATAM region in using technology for financial services, both for Financial and Non-Financial Institutions. He stated that this partnership would help fintech companies navigate the unique challenges of the Latin American fintech environment with ease.
The partnership also offers access to Inswitch's local market knowledge and regulated BIN sponsorship, ensuring full compliance with Mexican financial regulations. Leveraging Inswitch's extensive regional reach and value-added services, including alternative payment methods and core banking solutions across Latin America, fintech companies can scale their operations without geographic limitations.
Kevin Fox, the Chief Revenue Officer for Thredd, expressed his excitement about the collaboration, stating that it would remove traditional roadblocks associated with regional expansion, allowing fintech companies to enter the Mexican market and broader Latin America swiftly and confidently without compromising scalability or compliance.
References: [1] Press Release: Thredd and Inswitch Announce Strategic Partnership. (Date unknown) [2] Inswitch Website: About Us. (Date unknown) [3] Thredd Website: What We Do. (Date unknown) [4] Alvarenga, R. (Date unknown). LATAM Region's High Activity in Financial Technology Services. Interview. [5] Fox, K. (Date unknown). Removing Roadblocks for Fintech Expansion in Latin America. Interview.
The strategic partnership between Thredd and Inswitch combines global processing power with deep regional knowledge, aiming to help global businesses comply with Mexican financial regulations while expanding into LATAM markets. Inswitch's local market knowledge and regulated BIN sponsorship, integrated with Thredd's global issuing platform, enables fintech companies to leverage value-added services for a smooth entry into the Mexican and broader Latin American markets.
