The two startups will combine their expertise and capabilities to deliver an innovative real-time credit experience within financial services.
Portugal-based “Journey-as-a-Service” provider LOQR teamed with Colombia-based SaaS credit tech company MO Technologies to improve the credit value offer of banks. The partnership’s primary goal is to combine LOQR’s real-time credit journey with MO’s technological solutions, which comprise credit origination, servicing, and collection to offer an end-to-end credit journey for financial institutions.
Banks are usually technologically limited to offering complete and innovative credit solutions to their clients. LOQR and MO offer a turnkey solution with less integration complexity, cutting-edge technology, and AI techniques to ensure a fast, easy, and compliant process.
“Through LOQR expertise within Journeys-as-a-Service and digital identity, together with MOs end-to-end digital credit capabilities, for the first-time banks can have a one-stop-shop to launch a complete digital experience,” says Miguel Pontes, LOQR’s Head of Business Strategy, and he adds: “This will ultimately enable a more inclusive way of offering credit. MO’s strategy is completely aligned with LOQRs regarding the need for a more elegant and client-centric digital credit solution that any bank can deploy in weeks, not months. So, by joining both companies in this joint venture, our clients will gain a seamless onboarding and an end-to-end credit value solution”.
The partnership will deliver an innovative and differentiating solution in the market, through the use of open banking and alternative data for credit solutions. The companies plan to start within the LATAM and Europe geographies and intend to scale globally.
“At MO Technologies, we are excited to team up with LOQR to make credit inclusion a reality. Billions of people don’t have access to formal credit due to the lack of proper technology that banks and fintech face nowadays to offer inclusive credit products to satisfy customers’ demands for innovative digital credit experiences. Merging LOQR capabilities with our enabling credit technology will help us reach more customers and progress in our path to finish the credit access gap”, explained Miguel Mejía, Head of Strategy and Business Development at MO Technologies.
LOQR is the AI-powered journeys-as-a-service (JaaS) provider for financial institutions desiring a smooth transition to a secure digital world by unlocking their digital potential. LOQR expertise in AI, security, and compliance, combined with solid banking business knowledge, are the foundations of our mission to help our clients empower their customers’ digital lives. This is achieved by delivering our pre-approved and proven journeys, such as remote account opening, customer data update, real-time consumer credit, including buy-now-pay-later, among other value-added regulatory compliant journeys, already available in our end-to-end platform.
About MO Technologies
MO is a fintech company that enables credit-issuing for new players through a SaaS end-to-end credit lifecycle management solution covering origination, servicing, and digital collection in a one-stop-shop schema. MO has empowered top players in more than 12 countries across the LAC region with a proven track record. Its productized solution enables a laser speed launch of new credit hyper-personalized products, fully digital and integrated seamlessly.