Costa Rican companies that offer technological solutions for the financial sector participated in the Finovate Fall 2021 fair, in New York, United States. The fair, focused on the Fintech subsector, represented an opportunity for the national delegation to show its value proposals based on quality and innovation.
The main objective of this Costa Rican participation in Finovate was the positioning of the country in the industry, as well as promoting the intellectual properties of the companies and the possibility of testing the concepts of the properties to assess their potential and make the necessary adjustments to enter the market. The national delegation was made up of the Costa Rican Foreign Trade Promoter (PROCOMER) and the firms Impesa, Snap Compliance, Symbiotic, and Masterzon.
“The innovation and quality of the information technology sector in Costa Rica has been positioning us in international markets, especially in the United States. This, in turn, has opened doors for us in the Fintech subsector, which demands very high security solutions, and that Costa Rican companies increasingly offer to their clients. We hope that this first approach at this fair will generate business opportunities for us in the medium and long term”, said Álvaro Piedra, PROCOMER Export Director.
For his part, Mario Hernández, CEO and Founder of IMPESA, added that “in last years, we have gone to Finovate as spectators and this year thanks to PROCOMER, we were be able to present our application and that makes us very proud, as it is an event very important for the Fintech industry. At IMPESA, we have always thought that international conferences provide us with great contacts, business and position us in the market. Going to present Monibyte to Finovate is a great opportunity for us to show everything we can do”.
The Costa Rican apps presented in Finovate are:
IMPESA presents “Monibyte”, an app that provides banks with an advanced management tool for their clients; it mitigates fraud, increases revenues and reduces costs, among other advantages.
Snap Compliance shows “Snap Compliance AntiMoney Laundering”, a platform that allows organizations to have a monitoring tool to prevent money laundering.
Symbiotic exposes “Tap on Phone”, which is an app that allows anyone to accept payments just by having the mobile (without requiring an additional device).
And last but not least, Masterzon presents its invoice discount platform, a tool widely used internationally by companies of all kinds, as a strategy to obtain liquidity for working capital.
As it is the first time that PROCOMER participates in this fair, months in advance, we worked together with the companies to prepare it with sales pitch sessions to present their proposals to the sector in the best way possible. The event included 3 main activities: presentation of the demo (the app itself), for 7 minutes, before potential buyers and decision makers, business meetings to learn more about the company, and networking activities among the participants.
This year, there were around 1,000 participants, including Bank of America, Capital One, Citi, Deutsche Bank, HSBC Bank, JP Morgan Chase, Mastercard, TD Bank, Wells Fargo, among others.