Itaú Unibanco, TOTVS agree to offer financial services

The two companies will focus on the distribution of integrated financial services to TOTVS' management systems, based on data intelligence and aimed at corporate customers and their entire chain of suppliers, customers, and employees. The new company, derived from TOTVS' Techfin operation, has as its main objective to expand and simplify access to personalised financial services that are fully integrated into management systems (ERP). The completion of the transaction is subject to approval by regulatory bodies.

The agreement establishes that Itaú Unibanco becomes a partner in TOTVS' Techfin operation with a 50% interest in the company's capital stock, which will hold the Techfin and Supplier assets, through the following contributions: funding commitment for current and future operations; credit expertise and development of new financial products; and financial contributions.

The partnership creates a company that will combine technology and financial solutions, adding the complementary expertise of the partners to offer corporate customers, in an agile and integrated way, the best experiences for contracting products directly on the platforms already offered by TOTVS. Throughout the development of the joint venture, TOTVS customers will be able to contract a complete range of financial products, such as credit, cash management, anticipation, and others, combining the intelligent use of data for better conditions and an improved contracting and usage experience. Over time, other products and services will be added that will allow TOTVS customers to have at their disposal a complete financial ecosystem for day-to-day operations.