The pandemic forced many businesses to change and move online, leading to inefficiency in everyday operations and a loss of customers. Needless to say, the economic impact that followed, made loan repayment extremely difficult for many businesses. Consequently, many regulatory bodies forced their local financial institutions to extend repayment periods, to help defaulting businesses recover from the economic crisis. It was then, that Uruguay-based Bantotal stepped in and helped its clients restructure their loans, to help clients recover from the economic impact of the pandemic. Today, Bantotal works with several banks and microfinance companies to help them manage their day-to-day, mission critical operations through their customer-centric banking platform. The company offers functional support for clients’ products and services to elevate end user experience and help financial institutions abide by the registration and disclosure rules determined by their respective regulatory bodies.

Bantotal offers a robust platform that withstands and empowers different business models of banks and financial institutions while also allowing them to abide by the regulatory standards in their respective countries. “We want to facilitate ‘frictionless,’ processes with minimum or no manual operations while maintaining data integrity and coherence, to ultimately ensure the lowest total cost of ownership to customers,” states Pablo Lopez, CEO at Bantotal. The team at Bantotal brings in-depth knowledge of the different business models that banks can implement to provide their services to their customers. Having been in the industry for three decades, Bantotal has garnered a vast client base consisting of several universal banks, microfinance businesses (MFIs), full digital banks, vehicle financing companies and other financial institutions that deal with lending, including fintechs.

The company’s banking platform offers round the clock support to these clients along with high transaction processing, compliance with regulatory norms and guidelines, and high-end security features. Bantotal’s SaaS based solution allows the customers to eliminate various challenges that commonly hinder their operations such as security threats and processing of a large number of transactions. Further, the company’s API integration with all the cloud environments (AWS, Google Cloud Platform, and Microsoft Azure) provides an added advantage for their customers. The company’s platform also supports a variety of database managers from IBM, Oracle, and Microsoft.

These capabilities proved critical for a number of clients during the pandemic. As businesses were required to make significant changes in the way they operated, many of them sought Bantotal’s specialized support to efficiently carry out their everyday operations. “We provided remote on-boarding solutions for our customers in order to improve their existing distribution channels such as Web and APP during that phase,” adds Pablo.

The various functionalities offered by Bantotal’s platform, including those available in its ecosystem, BStore, serve as building blocks for its clients, which play a crucial role in effectively continue their operations. Also, the company is starting backing the open banking initiatives of its clients. In a nutshell, Bantotal is rightly positioned in the Latin American industry to support universal banks as well as other businesses in the finance space, no matter if they are already operating or new entrants, to better serve their customers while abiding by the regulatory standards.