Instant payments firm Matera has acquired Cinnecta, an AI company, to offer customized products and services to financial institutions and credit card companies.
Through the partnership, both companies will also be leveraging the data they’ve collected to provide financial institutions with insights they can use to offer more tailored products and services to their customers—and ultimately—boost their revenue.
In 2020, Matera launched Pix, an instant payment method in Brazil. And through this collaboration, the company is looking to expand Pix within Brazil, further spotlighting the method as a way for consumers to transact on a daily basis.
“We are now poised to enable our clients to add significant value to Pix transactions by seamlessly connecting our retail banks, which manage over 60 million accounts, with other clients offering merchant services,” said Carlos Netto, Matera’s Co-Founder and CEO in a prepared statement.
“This integration aims to not only increase transaction volumes but also foster client retention and augment their business potential around Pix. With the strategic support of Cinnecta, Matera is fully equipped to implement this visionary approach, elevating our commitment to drive growth and excellence in the financial sector.”
Matera’s Efforts Signify That AI Technology is Set to Expand
Businesses are continuing to remain competitive in the financial landscape, and the use of AI technology is growing, helping many to stay ahead of the curve and leverage its many benefits.
Overall, AI solutions can even help merchants deliver exceptional customer experiences, further cementing customer loyalty and increased revenue.
