I2c, which provides digital and banking technology, is partnering with lending company KEO and Mexican customer loyalty program PAYBACK, with the goal of providing financing in Mexico in a more inclusive manner, a press release says.
“The KEO PAYBACK American Express Card with i2c and KEO helps provide new customers entry to a financial alternative that allows them to build a credit history and receive the benefits of our loyalty program and have access to the vast American Express acceptance network, including online and international purchases and a fully digital experience,” said José Ramón Ojeda, General Manager of PAYBACK Mexico. “We could only make this possible with partners that are technology-driven and digitally focused and we’re thrilled to play our part in this collaboration.”
The partnership will be working to provide consumer credit availability and financial inclusion in Mexico via a fully digital underwriting process that will give quick credit approval for users, without any credit check or paperwork.
The release quotes Kevin Fox, i2c head of sales for the Americas, saying that the goal of the partnership is “overcoming traditional barriers to credit and next-gen payments.”
“We are excited to work with i2c and PAYBACK to offer eligible Cardmembers in Mexico an alternative credit solution, via an all-digital platform that will help them build credit history and obtain robust loyalty benefits, again demonstrating KEO’s commitment to financial inclusion,” said Paolo Fidanza, CEO and cofounder of KEO.
I2c has also recently partnered with challenger bank Agora Services, with the goal of providing modern digital-first issuing and processing focused on credit unions and community banks.
“Challenger banks are encroaching on community banks and credit unions by providing a digitally native user experience that meets the needs of today’s consumers,” the companies said in a Tuesday (May 25) news release, citing a study from Cornerstone Advisors and StrategyCorps which showed growth in people who had used a challenger bank as their main account in the past year.