Original Hub provides a set of technology infrastructure and APIs so other companies to deliver banking services to end customers. According to the digital bank, Original Hub will meet the growing demand for financial services by fintechs, retailers, and public agents, among others. In the first half of 2021, Original processed more than 73 million transactions for third parties, including payment services through PIX (the Brazil-based instant payment system), payment of bank slips, scheduling automatic debit, and withdrawal.
The growth of the market for BaaS platforms such as Original Hub occurs because, in order to operate, fintechs and institutions that provide financial services to other companies and end-users need licences from the Brazilian Central Bank. Through platforms like Original Hub, these companies are able to make financial services offerings to other companies (B2B) or to their consumers (B2C). In other words, Original Hub ‘rents’ its technological infrastructure for financial transactions. There are currently about 40 clients, including fintechs and companies from various sectors, including the telephone industry.
To meet growing demand, Original Hub is including new services on its platform, such as PIX for retailers and automatic debit scheduling.
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