In a move that could significantly enhance the efficiency of B2B payments in Brazil, fintech company KEO World has partnered with BTG Pactual Bank S.A., the largest investment bank in Latin America. By combining the strengths of both entities, this strategic collaboration aims to transform the B2B payment landscape through innovative, digital solutions. Central to this endeavor is the integration of KEO’s Workeo platform with the Amex Business Link™ Platform, which aims to streamline and digitize invoice payments for medium and large businesses in Brazil. Notably, this transition to a digital system is expected to generate substantial cost savings and increased purchasing power for businesses, thereby fostering economic growth.
Founded in 2020, KEO World has rapidly established its presence in the fintech sector, largely owing to its robust Workeo solution. Workeo leverages KEO’s advanced credit processing system to furnish businesses with a line of working capital credit via a digital wallet. Through a combination of the Amex Business Link™ and KEO’s proprietary blockchain payment system, KEO Rails™, businesses gain access to a versatile multiproduct payment and billing infrastructure that simplifies complex transactions. This comprehensive digital ecosystem is designed to support the financial needs of medium and large businesses, making transactions more efficient and less cumbersome.
The partnership with BTG Pactual Bank is particularly impactful given the specific challenges faced by Brazilian SMEs (small and medium-sized enterprises). In a market where less than 10% of traditional credit is extended to SMEs, the Workeo product offers a significant lifeline. It empowers business buyers by providing them with crucial credit for essential inventory purchases while enabling suppliers to enhance their recurring sales. Paolo Fidanza, CEO of KEO World, highlighted the partnership’s potential to expand the reach of their digital payments program, thereby facilitating low-cost financing and efficient cash management for numerous companies in Brazil. Such capabilities are expected to have a substantial positive impact on the financial health and operational efficiency of Brazilian businesses.
Moreover, René Centeno of American Express spoke on the importance of the Amex Business Link™ platform’s enhanced value proposition. With the integration of KEO’s solutions, Brazilian companies can now take full advantage of a fully digital ecosystem for managing payments and billing. This improved financial infrastructure is key to optimizing working capital, improving administrative procedures, and enhancing reconciliation processes. By adopting this digitized approach, businesses are likely to experience smoother operations and better financial management.
The collaboration between KEO World, BTG Pactual Bank, and American Express represents a significant milestone in the evolution of B2B payments in Brazil. By offering a streamlined and digital solution specifically tailored to the needs of medium and large businesses, this partnership is poised to drive economic growth and operational efficiency across the country. As these companies continue to innovate and expand their capabilities, Brazilian businesses stand to benefit from enhanced financial services that pave the way for sustainable growth and development.