Dock Launches Platform Offering Financial Services in Latin America

Dock has launched a platform that helps companies offer financial services to customers in Latin America.

The new Dock One cloud-based platform enables companies to add new businesses to their operations and expand to countries throughout Latin America through a single application programming interface (API), Dock said in a Tuesday (Jan. 17) press release.

“The release of Dock One is perhaps the most significant technological shift in our company’s history,” Dock CEO Antonio Soares said in the release. “Our clients have the benefit of not only access to the best available technology, but also access to Dock’s experts who fundamentally understand business in LatAm, and can consult on the best solutions to help our clients reach their goals.”

PYMNTS research has found that leaders in the FinTech industry, government and financial institutions across Latin America are seeking to decrease cash dependency to stimulate economic growth, keep pace with an increasingly digitized world and promote greater financial inclusion.

While major strides still need to be made to promote financial inclusivity in the region, early research shows that for those citizens who are banked, digital transactions are slowly becoming the new norm, according to the “Digitizing Payments in Latin America Playbook,” a PYMNTS and Kushki collaboration.

Payments localization is meeting growing demand in Latin America, Worldline Global Head of Digital Goods and Services Michael Bilotta told PYMNTS’ Karen Webster in an interview posted in December.

“Payments are the linchpin that ensures you can monetize your service, because without an effective payment stack everything falls apart,” Bilotta said at the time.

With Dock One, customers can minimize the development and integration that is required to take their products and businesses to other countries, according to the Tuesday press release.

Once a customer is integrated into the platform, they can use the same technology stack in other countries as well, the release said.

Dock built the platform to be a global solution. Following its launch in Latin America, Dock One is to be expanded to other regions as well, per the release.

“With this tool, customers can evolve their business model without needing a new integration or migration, adding new services and products in an agile way using the same configuration,” the press release said. “The expectation is that the new platform will encourage customers to combine financial products in a way that aligns with customer expectations and meets the demands of new generations, such as the search for new credit products.”