Argentina's Banco Columbia chooses fintech and insurtech company novae as digital transformation partner

Banco Columbia is one of the first banks in Argentina to implement Visa Loyalty Solutions, a cutting-edge digital payment platform and loyalty program co-created by novae and Visa, as a first step toward its digital transformation

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novae

Feb 04, 2019, 17:52 ET

BUENOS AIRES, Argentina, Feb. 4, 2019 /PRNewswire/ -- Banco Columbia, with 59 branches across Argentina, has partnered with the fintech and insurtech company novae to support its digital transformation.

As a first step in the process, Banco Columbia is one of the first banks in Argentina to adopt Visa Loyalty Solutions (VLS), which novae and the leading digital payment company Visa co-created in July. VLS is a user-centric, universal, cross-border, all-digital, mobile-first, white-label loyalty platform for banks that enables consumers and merchants to redeem points anytime, anywhere, from any device (mobile, desktop or wearable) and using multiple payment methods (credit, debit, points or split payment).

VLS provides Banco Columbia with a top-of-the-line rewards and customer care program adapted to its loyalty strategies and branded as its own. Thanks to a single, smart payment solution on an invisible and securely encrypted payment platform, rewards are registered as digital currency that can be used alone or split with other payment methods, such as credit or debit cards registered on the platform, to make payments online and contactless in-store around the world.

While most loyalty platforms require cardholders to call contact centers to redeem their points, Banco Columbia customers will now have multiple interactive customer support channels to choose from, such as voice, chatbot, video chat and communications leveraging artificial intelligence (AI).

novae not only created the technology behind the digital platform, but also the program's impressive network of international travel rewards offerings, to which Banco Columbia's customers will now have access. A powerful metasearch engine and partnerships with major worldwide travel aggregators enable users to get preferential pricing and exclusive deals at more than 400,000 hotels in 25,000 cities; 70,000 flights to 1,700 destinations on 130 airlines; 500 car rental companies at 30,000 locations in 170 countries; 2 million vacation rental properties in 190 countries; and 10,000 tours and other entertainment options in 90 countries.

"Visa Loyalty Solutions offers Banco Columbia a transparent and flexible digital experience that adds value and provides an unmatched customer experience," said Ricardo Tafur, Vice President of Consumer Products for Visa in Latin America and the Caribbean.

"Offering VLS, which we'll brand as My Rewards, as our loyalty solution is one of the steps we're taking to elevate customer benefits and the customer experience to the next level," said Matias Barata, CMO of Banco Columbia.

"With Visa Loyalty Solutions, Banco Columbia has taken an important step toward its digital transformation by incorporating a powerful online and mobile tool to increase customer loyalty," said Facundo Mendez, Head of Business Development for novae.

About Banco Columbia

With 59 branches, more than 500,000 clients and nearly 1000 employees, Banco Columbia provides tranquility and simplicity in the management of our clients' finances. We offer a wide variety of financial services such as fixed-term investments, negotiation of public and private securities, savings and checking accounts, safe deposit boxes, foreign exchange transactions, transfers to and from abroad and insurance. We also provide loans and credit cards.

For more information, consult https://secure.bancocolumbia.com.ar/web/ or our Facebook page.

About novae

novae improves the customer experience through technologies and services that make mobile transactions, communications and other business-consumer interactions faster, easier, more effective and more enjoyable. Headquartered in San Francisco and with a business and innovation hub in Miami, an insurtech hub in London and shared services centers in Buenos Aires and Bogota, novae has clients across the Americas and Europe. novae is part of a&a Co, a global equity investment company based in San Francisco and focused on creating, acquiring and investing in artificial intelligence (AI), mobile services and payments/loyalty ventures. novae's strategic partners include Visa, CyberSource, AAXIS, BPP, Expedia and Canopius Syndicate at Lloyd's. Investors in novae include the private debt and equity capital funds CASEIF III LP and ExWorks Capital LLC.

For more information, visit us at wearenovae.com or on Twitter or LinkedIn.

About Visa

Visa Inc. is the leading digital payment company. Our mission is to connect the world through the most innovative, reliable and secure payment network that empowers people, businesses and economies to thrive. Our advanced global processing network is capable of handling more than 65,000 transaction messages per second. The company's continuous focus on innovation is a catalyst for rapid business growth, connected through any device, as well as the engine behind a cash-free future for everyone, everywhere. While the world moves from analog to digital, Visa applies its brand, products, team, network and scale to the task of shaping the new future of commerce. For more detailed information, please visit https://usa.visa.com/about-visa.html, visacorporate.tumblr.com and @VisaNews. For news in Latin America, please visit @VisaNewsLatam.

CONTACT: Theresa Rice, [email protected]

SOURCE novae