Digital financial platform P2P has collaborated with fintech company Mbanq to offer financial services to the Brazilian immigrant community in the US.
P2P utilises Mbanq’s technology and expertise in regulatory compliance to provide financial solutions tailored to the requirements of this community.
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The company targets more than one million Brazilians living and working in the US.
Its offerings include multi-currency accounts, physical and virtual debit cards, and money transfer services. Accessible round the clock, P2P claims to provide users with secure and scalable tools to manage finances seamlessly across borders.
P2P promises a ‘smooth’ onboarding process for new users, alongside low-interest financial products and flexible account management options. ‘Advanced’ technologies are said to safeguard transactions.
Mbanq CEO Vlad Lounegov said: “This partnership demonstrates Mbanq’s commitment to empowering FinTech platforms to achieve their vision. Mbanq provides the necessary technology, compliance expertise, and scalability to help P2P deliver secure and flexible financial solutions tailored to the Brazilian community in the US.”
Mbanq’s contributions to P2P’s operations include the development of a white-label mobile app to provide a fully branded digital experience. The company launched a new suite of white-label mobile digital banking apps in August 2024.
Additionally, Mbanq facilitates regulatory compliance, ensuring P2P aligns with US financial regulations and gains approvals from sponsor banks.
The partnership is said to integrate cultural understanding with ‘innovative’ financial solutions, helping Brazilian immigrants navigating the complexities of the US financial system. P2P CEO Ramiro Silva said: “Mbanq’s support has been instrumental to help us create and launch this solution efficiently while maintaining the highest standards of security and compliance. Mbanq’s expertise in mobile app development and regulatory alignment has allowed us to focus on our mission of providing financial tools that meet the unique needs of our users – the Brazilian community in the US and beyond.”
