Financial management is made simple and efficient through Open Finance data
Nibo is a tech company in Brazil that is helping over 300.000 small companies and accountants manage their finances through a single platform.
Using Nibo’s software, SMBs can organize their income flow, and manage payments and invoices through automation, which helps entrepreneurs meet their fiscal and financial obligations in a simpler fashion.
By partnering with Belvo to accomplish this mission, Nibo has conquered three main goals in their process:
- Less manual errors and an optimized experience
- Faster inputs, allowing automatic information flow and access in real-time
- Better control, with access to data from many financial institutions in a single dashboard
The initial challenge: optimizing data acquisition
Nibo’s solution requires that the company accesses a big amount of financial information from SMBs. Until recently this process was done manually by the customer, who had to input documents and data from invoices, receipts, payment orders, etc.
Aside from the dedication of time that a manual input requires, the process can become even slower due to mistakes, like typing wrong numbers or uploading duplicate information.
To simplify life for their customers and ensure correct data acquisition, Nibo has partnered with Belvo to get this information via Open Finance APIs.
How Belvo simplifies data acquisition through Open Finance
“Connecting through Belvo allows us to access everything through a single connection, and we don’t need to have a new interface for each bank”Gabriel Gaspar, founder and CEO of Nibo
To connect to Open Finance data, Nibo partnered with Belvo, the leading API Open Finance platform in Latin America, which offers the largest connection to banks and other financial institutions in Brazil.
Through this partnership, the company is now able to access financial data directly from the institutions, all in a single platform, improving the onboarding and maintenance for customers and assuring data is correct and up to date. All without having to spend time and resources on developing and maintaining these connections.
More banks, more customers
Aside from offering access to financial data from different sources through a single integration, Belvo allowed Nibo to connect to more financial institutions, which helped the company acquire new customers.
Gabriel Gaspar, founder and CEO of Nibo
“We now have access to banks we hadn’t connected with before. This has been a great advancement, and now we have thousands of accounts connected through Belvo’s product”
Download the case study (in Portuguese) to learn more.