Security HUB – Open Banking API solution for Treasury Management Qorus-Infosys Finacle Banking Innovation Awards 2025- Nominated

‘Banco Security will cease to exist’, said the Head of Strategy in 2019 before proposing to the Board of Directors to leverage its existing and working business relations with the Fintech sector, and offer this up-and-coming industry to concentrate its banking operations in our bank. This would create new revenue streams based on incoming and outgoing transactions by Fintech companies: Collectors & Distributors of transactions for e-commerce, hospitality, and financial solutions.

The reasons for this radical change in strategy were many, but mainly the following two: 1) stricter regulation of the banking sector but more importantly 2) challenging costs of businesses based on passive income, where Banco Security’s competitors had an edge over our traditionally close partnership approach to business. At this point in time, Banco Security had only a 3% of the banking industry market share, declining every year.

Digital, Enterprise Banking, and IT divisions – supported by Compliance, Legal, and Operational Risk – then turned tables and worked on key items: strengthen partnerships with Fintech companies that have a high potential for growth of operations, invest in cloud-based infrastructure that can handle the transactions of a bank having millions of operations per month, and offer our partners technology to easily generate machine-to-machine banking operations.

Fast forward to 2025 and the strategy was fulfilled successfully. Through Security HUB, Banco Security is now recognized by the Fintech sector as having the best banking products for their operations: fastest incoming and outgoing transactions of the market, scalable infrastructure to support the business of Collectors & Distributors of transactions, and API services for our clients to automatically operate their Treasury Management. These technologies now allow Banco Security to generate 2.0 million USD in new commissionable services per year, with an average expected growth of 20% per year.