Floid is an Open Data platform that enables financial institutions in Latin America to perform risk assessments and streamline payment processes through data aggregation and direct transfers. By connecting to over 100 data sources, Floid enhances financial inclusion and operational efficiency for businesses while ensuring secure transactions with ISO 27001 certification.
Funding
$2.9M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Financial institutions in Latin America face challenges in efficiently assessing risk and streamlining payment processes due to fragmented data sources and reliance on traditional transfer methods. This can lead to slower operations, increased costs, and limited access to financial services for businesses and individuals.
Solution
Floid offers an open finance platform that aggregates data and facilitates direct transfers, enabling financial institutions in Latin America to improve risk assessments and payment workflows. The platform connects to over 100 data sources, providing a comprehensive view of customer financial profiles for more accurate risk evaluation. Floid also streamlines payment processes by enabling direct transfers between accounts, reducing reconciliation efforts and improving transaction speeds. This helps businesses enhance operational efficiency, reduce fraud, and expand financial inclusion while maintaining high security standards.
Target Audience
Floid primarily targets banks, financial institutions, and businesses in Latin America seeking to improve risk assessment processes, streamline payment operations, and enhance financial inclusion.
Features
- Data aggregation from over 100 banks, financial institutions, and public sources in Latin America
- Risk assessment tools for evaluating individuals and companies
- Direct transfer capabilities for receiving payments from any account
- Bank reconciliation features to integrate payment information with bank transactions
- Payout functionality for disbursing funds instantly from business checking accounts
- Account validation services to confirm bank account details before transactions
- Smartrouting technology for platform stability and reduced downtime
- ISO 27001 certification for data security