FAQ from end users and recommended messaging

What is Belvo?

Belvo allows your customers to safely and easily share their data with a growing number of innovative apps and services across Latin America, including yours, with their consent and following the highest privacy and security standards.

This connectivity allows these apps to offer better products and services and enhances competition ultimately allowing the end user to benefit from a more inclusive financial offer.

What is Open Finance?

Open Finance is a new data-sharing model promoted in many countries through regulation, which allows end-users to safely share their banking data, hosted by financial institutions, with third-party companies, through APIs.

Thanks to Open Finance – always with each individual’s consent–, companies can access and interpret banking data to build new financial products and services that are more tailored to their specific financial situation and needs.

Is it safe?

• Enterprise-grade security and compliance standards: Belvo uses bank-grade protocols and follows regulatory best practices to protect your account information and your privacy. We also adhere to and comply with the world’s most recognized security standards including ISO 27001.
• Data is always encrypted: Our platform has been developed from scratch to ensure that the process of connecting accounts is carried out under the strictest security and privacy standards. User data never enters or leaves Belvo without being encrypted.
• Best infrastructure security: We host our platform in Amazon Web Services (AWS), currently the gold standard in terms of data center security and availability, with strict access control measures and multiple protocols that guarantee the uninterrupted operations of Belvo’s services.
• Constant monitoring and security policies: We carry out periodic tests on our platform and have a real-time alert system that detects and analyzes any security signal. We also apply strict information security policies throughout the company and audit our platform on an ongoing basis.

How do end users benefit from Belvo?

Sharing your data safely and easily allows you to:

• Lenders
  • More competitive offers: more data means that credit companies can reduce their potential risk and offer better interest rates or offer loans to more users traditionally underserved. 
  • Time: the use of the latest technology allows you to analyze the information quickly, reducing the time it takes to have the funds in your account.
  • Manual process reduction: the automatic connection saves inefficient manual processes and does not have to search for obsolete information.

• Personal Finance Managers (PFMs)
  • No manual work: the automatic connection allows the user to save any manual work like data entry.
  • More complete insights: Connecting the data with a PFM implies more information and with it more precise recommendations.
  • Real-time notifications: Belvo allows for instant connection with your bank so you can get the most updated and accurate data in your PFM.

• ERP
  • Complete real-time information: through connecting all the accounts, ERPs can provide a clear view about the monetary movements. 
  • Aggregate multi-data sources: With Belvo, users can enrich their data with other data types like tax data giving a more clear view of the monetary situation of the company. 
  • Increase efficiency: automatic data sharing allows to reduce errors and saves time in data entry and data consolidation processes.