This collaboration leverages Mbanq's technology, white-label app solutions, and regulatory expertise to provide tailored financial services for over one million Brazilians living and working in the US.
P2P offers multi-currency accounts, physical, and virtual debit cards, and simple money transfer services, enabling users to manage their finances efficiently across borders. The platform prioritizes user convenience with 24/7 access to financial tools, simplified onboarding, and secure transactions. Additionally, P2P provides low-interest financial products and flexible account management options, helping users to customise their banking experience.
Mbanq’s role in supporting P2PMbanq's contributions to P2P include providing a white-label mobile application that delivers a fully branded digital experience. By ensuring regulatory compliance and securing sponsor bank approvals, Mbanq helps P2P navigate the complex US financial regulatory landscape. This enables P2P to focus on its mission of serving the Brazilian immigrant community with secure, scalable, and user-friendly financial solutions.
P2P’s platform is designed to address the unique challenges faced by Brazilian immigrants in the US financial system. By combining cultural understanding with innovative technology, P2P offers practical tools for managing finances both in Brazil and internationally. This approach bridges the financial gap for users, fostering mobility, security, and financial growth.
The Brazilian immigrant population in the US has grown significantly over the past few decades, now exceeding one million individuals. Concentrated primarily in states like Florida, Massachusetts, and New York, this community plays a vital role in the US economy, contributing through diverse sectors such as construction, hospitality, and entrepreneurship. Many Brazilian immigrants also maintain strong financial ties to their home country, sending billions of dollars annually in remittances. Despite their economic contributions, Brazilian immigrants often face barriers in accessing traditional financial services due to language differences, unfamiliarity with the US banking system, and the stringent requirements of mainstream financial institutions.
For many, these challenges are compounded by limited credit histories or lack of documentation, which can restrict access to essential financial tools such as loans and credit cards. Additionally, high fees for international money transfers and currency conversion can strain their efforts to support families back home. This creates a pressing need for innovative, culturally attuned financial solutions that address these gaps. Platforms like P2P, designed with the unique needs of Brazilian immigrants in mind, aim to simplify cross-border financial management while fostering financial inclusion and mobility for this dynamic community.
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