Dock, a B2B technology company for payments and banking, has announced that Tenpo, the Chilean digital bank with more than 2.2 million customers, is now a customer of the Brazilian company.
Dock’s expertise and infrastructure are behind the issuing and processing technology that Tenpo used for its recently launched credit cards. The customer acquisition marks a big step in Dock’s Latin American expansion.
Chile is the ninth market for Dock, which currently operates more than 70 million active accounts and processes more than US$240 billion annually. In addition to Brazil, the company operates in Mexico, Argentina, Colombia, Ecuador, Peru, Panama and the Cayman Islands. Dock’s expansion in Latin America is part of a plan to tap a potential market of US$16 billion for Banking-as-a-Service and US$2.5 billion in card processing.
Antonio Soares, CEO, Dock, said: “With experience acquired in Brazil, a world leader in payments, we will replicate our financial services advancements across Latin America. Considering the particularities of each country, everything we do in the Brazilian market is 80 to 90% replicable. Our deep knowledge of this space allows us to expedite the availability of banking and payments technologies in other regions.”