Efforts to improve financial inclusion in Latin America continue as LoanPro and NovoPayment announce a new partnership. The agreement aims to provide financial institutions and fintechs with infrastructure to support various credit and lending products. While access to financial services has been growing in the region, a large segment of the population still lacks modern credit solutions. By combining their technologies, the companies seek to address these challenges and enable broader participation in the financial system.
Earlier collaborations in Latin America’s financial sector have aimed to increase digital banking and payment accessibility. NovoPayment has played a role in this space through its API-based solutions, processing millions of transactions annually. Similarly, LoanPro has established a presence by powering lending programs for hundreds of financial organizations. The latest partnership builds on these efforts, focusing specifically on scalable lending infrastructure.
What does the partnership offer?
The collaboration integrates NovoPayment’s payment processing technology with LoanPro’s credit ledger and loan servicing solutions. This allows financial organizations to efficiently issue and manage credit products. By streamlining these processes, the companies aim to remove barriers that have hindered financial institutions and fintechs from scaling their lending operations. NovoPayment, which operates in 15 markets, has processed more than 310 million transactions in 2024 alone.
How does this impact financial inclusion?
Latin America has made progress in expanding financial access, but many people still lack access to credit. The companies stated,
“Despite this progress, significant gaps remain in financial inclusion in the region, with millions still lacking access to modern credit and lending products.”
By offering infrastructure that simplifies lending, the partnership seeks to bridge these gaps and provide more individuals with financial services.
LoanPro has positioned itself as a key player in credit management, with 9.5% of the U.S. adult population represented on its platform. The company noted that its technology, when combined with NovoPayment’s capabilities, would help financial organizations scale their lending portfolios.
“Together, NovoPayment and LoanPro provide the scalable technology and infrastructure financial organizations need in order to rapidly expand their portfolios and improve access to modern credit products.”
This development aligns with broader trends in Latin America, where fintechs and eCommerce firms are seeking to tap into growing digital engagement. Countries like Brazil and Colombia have seen increasing online activity, signaling strong consumer interest in digital financial services. However, companies expanding in the region must also navigate market-specific payment preferences and regulatory landscapes.
For financial institutions and fintechs looking to expand in Latin America, credit infrastructure plays a crucial role in reaching underserved populations. While digital banking solutions have gained traction, the ability to efficiently issue and manage credit remains a challenge. By integrating their technologies, LoanPro and NovoPayment aim to provide a solution that supports financial institutions in scaling their offerings. As digital financial services evolve, similar partnerships could further shape the region’s financial landscape.
