BRIDGING THE FINANCIAL DIVIDE
- AlterBank
- Apr 16
- 5 min read
Exploration of the Strategic Collaboration between AlterBank and Accusys Technology
In a rapidly evolving financial landscape, the need for seamless digital banking services has become paramount. This paper delves into the recent conversation between AlterBank, a leading digital bank focused on cross-border financial services, and Accusys Technology, a pioneer in core banking solutions in Latin America. The dialogue explored opportunities for a strategic partnership aimed at enhancing fintech integration, API-driven services, and international banking capabilities. With a shared vision of bridging the gap between local and international banking, this potential collaboration promises to transform financial services across the LATAM region.
INTRODUCTION
The financial services sector in Latin America is undergoing a digital transformation driven by rising fintech adoption, increased mobile penetration, and a growing demand for cross-border financial solutions. As traditional banking struggles to keep pace with this shift, digital-first institutions like AlterBank are emerging as key players.
In a high-level conversation on February 25, 2025, Antonio José Romero, CEO of AlterBank, and Carlos Pan CEO of Accusys Technology, discussed the potential for a strategic partnership. The primary focus was on leveraging Accusys’ core banking system (Cobis) to enhance AlterBank's digital services, streamline operations, and expand its regional footprint.
This paper analyzes the key themes from this discussion, including:
The evolving role of API-driven banking.
Opportunities for fintech integration.
The importance of user experience (UX) and digital self-service.
Strategic initiatives for expanding cross-border services in Latin America.
BACKGROUND OF THE INSTITUTION
Alterbank, A digital-first approach to international banking.
AlterBank is a Class A licensed international bank incorporated in St. Lucia and regulated under the International Banks Act, Cap. 12.17. Founded with a vision to bridge the gap between local banks and international banking institutions, AlterBank focuses on delivering cross-border financial services that combine innovation, security, and personalized customer experience.
Core Offerings
Multi-Currency Accounts
Enables clients to hold and manage multiple currencies seamlessly, catering to both corporate and high-net-worth individuals.
Foreign Exchange Services
Facilitates real-time currency conversion with competitive rates, essential for businesses operating in multiple jurisdictions.
Transactional Banking
Provides efficient and secure payment processing, including wire transfers, ACH payments, and SWIFT services.
eBanking Solutions
It offers a robust online banking platform with a mobile-first design, enabling clients to manage accounts, initiate payments, and monitor transactions globally.
Wealth Management
Tailors investment strategies and financial planning services for high-net-worth clients, focusing on capital preservation and growth.
Credit Facilities
Includes a range of loan products, such as working capital loans and personal lines of credit.
Digital Transformation Strategy
Since its inception, AlterBank has adopted a digital-first strategy aimed at replacing traditional banking methods with fintech-driven solutions. By integrating API-driven core banking systems, the bank is expanding its capabilities to include:
Open Banking APIs
Allowing secure access to third-party fintech providers for a richer service portfolio.
Automated Compliance Solutions
Utilizing AI to streamline KYC (Know Your Customer) and AML (Anti-Money Laundering) processes.
Vision and Mission
AlterBank's mission is to redefine international banking by providing seamless, secure, and innovative financial solutions that empower clients to manage their wealth effectively across borders. With a focus on the LATAM region, the bank aims to become a leader in cross-border financial services, leveraging cutting-edge technology to deliver a premium banking experience.
Accusys Technology. Pioneering Core Banking Solutions in LATAM
Founded 25 years ago, Accusys Technology has become a leading provider of core banking systems, software development, and fintech integration in Latin America. Headquartered in Buenos Aires, Argentina, with additional offices in Bolivia and the United States, Accusys specializes in helping financial institutions digitally transform their operations to meet the demands of a modern financial landscape.
Key Solutions and Expertise
Cobis Core Banking System
A flexible and scalable platform that supports a range of banking services, including retail banking, corporate banking, and private banking. Built with an API-first approach, Cobis enables seamless integration with third-party fintech services.
Digital Wallets
Provides secure and compliant digital wallet solutions for banks and fintech companies, enabling contactless payments, peer-to-peer transfers, and mobile payments.
Robotic Process Automation (RPA)
Offers automation solutions to streamline back-office operations such as loan processing, account reconciliation, and compliance reporting.
Software Development and Testing
A team of over 400 professionals specializes in custom software solutions, DevOps, and quality assurance for banking and financial institutions.
Acquisition by Stefanini
In a strategic move to enhance its offerings, Accusys was acquired by Stefanini, a major Brazilian technology firm. This acquisition has expanded Accusys’ capabilities, especially in the areas of cloud computing, AI-driven analytics, and cybersecurity.
Vision and Market Position
Accusys aims to become the go-to partner for digital banking transformations in LATAM by providing cost-effective, scalable, and secure solutions. With a focus on core banking modernization and fintech integration, the company is committed to bridging the gap between traditional banking and fintech innovation.
LEVERAGING API-DRIVEN BANKING FOR SEAMLESS INTEGRATION
Carlos Pan emphasized the flexibility of Cobis’ API-driven architecture, which allows seamless integration with third-party fintech services. This capability aligns with AlterBank's vision of providing cross-border financial services without the constraints of traditional banking.
With Cobis’ API-driven architecture, banks like AlterBank can integrate third-party fintech solutions, enhance customer experience, and scale efficiently, said Carlos Pan, CEO of Accusys Technology.
The potential partnership would enable AlterBank to:
Expand its service offerings through fintech partnerships.
Provide real-time cross-border payments and remittances.
Enhance user experience with personalized banking solutions.
ENHANCING USER EXPERIENCE (UX) WITH DIGITAL SELF-SERVICE
Both leaders agreed on the importance of user experience as a key differentiator in modern banking. Antonio José Romero highlighted the need for self-service capabilities that empower clients to manage their finances independently.
The future of banking is digital, and this partnership could place AlterBank at the forefront of international financial innovation, stated Antonio José Romero, CEO of AlterBank.
Accusys’ expertise in digital wallets, mobile banking, and UX design would be instrumental in:
Simplifying account management for clients.
Offering virtual cards and instant transactions.
Providing a frictionless onboarding experience.
EXPANDING CROSS-BORDER FINANCIAL SERVICES
A significant portion of the discussion focused on expanding cross-border services. Both CEOs acknowledged the growing demand for international payments, remittances, and multi-currency accounts in Latin America.
Accusys’ core banking system supports multi-currency processing, enabling AlterBank to:
Facilitate real-time forex transactions.
Integrate with global payment networks like Visa for card-based services.
Enhance its cross-border service portfolio with automated compliance and reporting.
OPPORTUNITIES IN FINTECH INTEGRATION
The dialogue also explored the role of fintech partnerships in transforming traditional banking models. Events like Money 2020 were highlighted as platforms for identifying potential fintech collaborators.
Key opportunities identified include:
Open banking models to integrate external financial products.
Partnering with fintechs for automated lending, payments, and wealth management.
Leveraging AI and analytics to offer personalized financial advice.
STRATEGIC INITIATIVES AND ROADMAP
Short-term Goals
Launch Visa debit and credit card programs
integrated with Cobis.
Expand API-driven services for seamless fintech
integrations.
Introduce virtual card issuance and digital
payments.
Long-term Vision
Establish AlterBank as a leader in cross-border
banking across Latin America.
Develop a comprehensive wealth management
platform with automated investment options.
Expand into digital remittance services for both retail and corporate clients.
CHALLENGES AND CONSIDERATIONS
The conversation also touched on potential challenges, including:
Regulatory compliance in multiple jurisdictions.
Managing cybersecurity risks with API integrations.
Ensuring scalability without compromising service quality.
The potential partnership between AlterBank and Accusys Technology represents a transformational opportunity for digital banking in Latin America. By integrating Accusys’ core banking and API-driven solutions, AlterBank is poised to become a leading force in international financial services. This collaboration underscores a shared vision: to bridge the gap between traditional and modern banking through innovation, technology, and a customer-centric approach.
KEY QUOTES FROM THE CONVERSATION
CARLOS PAN
“Banking has transformed over the last decade, and today, being an international financial institution means being digital by default.”
ANTONIO JOSÉ ROMERO
“We have identified a significant opportunity in the region where corporate clients and mid-market firms remain underserved.”
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