LAFISE Group (LAFISE), a Latin American financial services provider, announced on Tuesday it has selected fintech and insurtech company novae to support its digital transformation. The LAFISE Group reported that as a first step in the process, the Dominican Republic locations of the group’s retail bank chain, Banco LAFISE (LAFISE Bank), were some of the first banks in the world to adopt Visa Loyalty Solutions (VLS), which novae and Visa co-created in July. The company explained:
“VLS is a user-centric, universal, cross-border, all-digital, mobile-first, white-label loyalty platform for banks that enables consumers and merchants to redeem points anytime, anywhere (online, in-store and while traveling), from any device (mobile, desktop or wearable) and using any payment method (credit, debit, points or split payment).”
Speaking about the collaboration, Sergio Arana, novae’s Head of Ventures, stated:
“As a pioneer in technological innovation, LAFISE Bank has always offered customers cutting-edge solutions to meet their banking needs. Our partnership will ensure LAFISE incorporates all the digital and mobile capabilities at our disposal to maximize customer loyalty and operational efficiency.”
Edgar del Toro, general manager of LAFISE Bank in the Dominican Republic, went on to add:
“LAFISE Group is excited to leverage novae’s digital capability framework, featuring artificial intelligence, machine learning, mobile payments technologies and other advances, to help us cement our position as innovator in all the markets where we operate.”
novae is part of a&a Co, a global equity investment company based in San Francisco and focused on creating, acquiring and investing in ventures in the artificial intelligence (AI), mobile services and payments/loyalty realms.