Sunnyvale, CA (PRWEB) June 08, 2015
Banco Original is partnering with Plug and Play’s FinTech program to build a gateway for Financial Technology companies to operate in Brazil. Plug and Play FinTech is leading the way in innovation with its startup accelerator dedicated to the latest developments in financial technology.
“Banco Original is the first full Digital Bank in Brazil that was born with innovation at its core. To gain competitive advantage, we analyze business models and technologies that could leap frog the traditional financial industry,” says Guga Stocco, Head of Strategy and Innovation of Banco Original, “Partnering with Plug and Play will give us access to FinTech companies, and together, we could disrupt the banking industry in Brazil.”
Original will offer all services of a traditional bank through Internet and mobile channels. With no branches and complex legacy systems, they will be able to be more simple, transparent, and agile than the competition. To maintain the innovation, Original will partner with FinTech startups in Silicon Valley to offer their services for Brazilian users, allowing them to have access to the best technology and solutions to facilitate their lives.
Scott Robinson, Director of Plug and Play FinTech, says, “We are incredibly excited to partner with Banco Original—their fervor for innovation and forward-thinking agenda matches well with our FinTech investment strategy and paradigm.”
The FinTech Accelerator is one of four verticals run by Plug and Play alongside Brand & Retail, Internet of Things, and Media & Mobile. Each 12-week accelerator program accepts 20-30 startups. Startups accepted into the program receive funding from Plug and Play Ventures. The selected startups also participate in weekly mentor sessions with industry leaders and have opportunities to join potential pilot projects. Their experience at Plug and Play culminates in a quarterly demo day where startups showcase their hard work.
Plug and Play provides corporations access to early and growth stage startups and enables them to engage with these startups through deal flow sessions, workshops, and one-on-one interaction.
Companies accepted into Plug and Play FinTech are developing solutions in mobile payments, banking, security, and authentication.
Plug and Play FinTech is accepting applications through June 15, 2015 for Batch 2 of the program, which begins July 22, 2015. Interested entrepreneurs can apply via the following link: http://bit.ly/1A0fclG
To learn more about the program and the corporate partners involved, visit: http://www.plugandplayaccelerator.com/fintech
About Plug and Play
Plug and Play Tech Center is the world’s largest global technology accelerator and venture fund. Since inception in 2006, our program extends worldwide to 24 countries, providing necessary resources to succeed in Silicon Valley. With over 350 startups and 300 corporate partners, we have created the ultimate startup ecosystem. Plug and Play provides active investments with 180 leading Silicon Valley VCs, and more than 365 networking events per year. Companies in our community have raised over $3.5 billion in funding, with successful portfolio exits including PayPal, Danger, Dropbox, SoundHound, Zoosk, and Lending Club.
About Banco Original
Original is the first full bank 100% digital in Brazil and as such has innovation at its core. Born with state of the art systems infrastructure and no legacy, the bank offers a customer centered experience for all services of a traditional bank with transparency and simplicity. Its Open Banking® platform allows FinTech companies to access APIs and datasets easily exploring the Brazilian Market.