ATLANTA--(BUSINESS WIRE)--Aug 15, 2023--
Matera, maker of world-class instant payments, QR code and digital ledger technology, today announced its strategic acquisition of Cinnecta, a leading-edge AI company renowned for its solutions in customer retention, loyalty and enhancing digital experiences.
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Matera, a leader in instant payments, has acquired Brazilian AI pioneer Cinnecta to enhance customer retention and transaction volumes, paving the way for tailored financial solutions and expanded banking innovation. (Graphic: Business Wire)
The acquisition underpins Matera's mission to provide clients with unmatched value, especially in critical domains such as client retention and expanding transaction volumes. By aligning forces, Matera and Cinnecta will enable clients to enhance their sales capabilities by delivering intelligent, actionable insights. With meaningful data, clients can offer their customers a broader range of products and services tailored to their needs, precisely when they need them.
Why Cinnecta
As AI explodes across industries and product offerings, often without true substantiation, Matera has diligently ensured the authenticity of Cinnecta’s AI capabilities. Matera identified Cinnecta as the genuine AI solution provider that aligns with the company’s vision after a meticulous year-long search. With guidance from MIT Ph.D. consultants, Matera is confident that this union is strategic, impactful and devoid of empty promises.
"Matera is at the forefront of fostering the expansion of Pix in Brazil, enhancing the financial ecosystem with innovation and synergy. We are now poised to enable our clients to add significant value to Pix transactions by seamlessly connecting our retail banks, which manage over 60 million accounts, with other clients offering merchant services,” said Carlos Netto, Matera’s Co-Founder and CEO. “This integration aims to not only increase transaction volumes but also foster client retention and augment their business potential around Pix. With the strategic support of Cinnecta, Matera is fully equipped to implement this visionary approach, elevating our commitment to drive growth and excellence in the financial sector."
At the heart of Cinnecta's success is its stellar team, recognized as the "Best Place to Work" in its state and fifth in Brazil. Matera aims to harness this distinction and set new benchmarks in organizational excellence.
Cinnecta is based in Belo Horizonte, often regarded as Brazil's AI Valley. It is the same place where Google anchored its roots in Brazil through an acquisition that led to a pivotal R&D center.
Charting the Future of Fintech Innovation
Cinnecta will be at the epicenter for AI solutions development, complementing Matera's suite of offerings. The combined company will be able to innovate on a new scale to provide unparalleled client experiences. Its transformative banking solutions can pave the way for an intelligently connected financial future.
“We are fully aligned with Matera’s vision for payments and banking technology in Brazil and its US expansion,” said Cinnecta Co-founder and CEO Eduardo Ferreira. “This is an incredibly exciting time to join the company, with Matera pushing into new territories. This represents an opportunity to apply our technology to transform an industry.“
Terms of the deal were not disclosed, and existing customer relationships will not change, as they will be served through Matera. With Matera and Cinnecta currently sharing many of the same clients, the companies will ensure a seamless integration.
Learn more at www.matera.com.
About Matera
With over 30 years of experience, Matera has proven technology, deep fintech expertise, is a trusted partner and is known as a pioneer. Matera’s Core banking and Pix instant payments solutions are used by 2 out of the top 3 global banks, 3 of the top 10 U.S. banks and 1/3rd of all banks in Brazil. Over 300 million Pix instant payments are processed per month using Matera’s solution and 60 million of those are initiated by QR codes. Matera is also known for collaborating to launch innovative fintech applications that generate new revenue streams for their clients. With operations in both Brazil and the U.S., Matera has nearly 1,000 employees worldwide.
About Cinnecta
Cinnecta is a data intelligence company specialized in understanding customer behavior to identify opportunities to increase LTV (lifetime value). Its platform transforms the way businesses assess customers possibilities to expand profitability and loyalty: campaign recommendations, next best offer (NBO), credit analysis, upsell, cross-sell and churn prediction.
The company has been awarded as 5th best company to work for in the national ranking - Great Place to Work for companies with up to 99 employees. It also occupies the 3rd position in a category that recognizes Open Innovation initiatives. Learn more at www.cinnecta.com.
View source version on businesswire.com:https://www.businesswire.com/news/home/20230815724090/en/
CONTACT: For Editorial Contact:
Leigh Disher
GMK Communications for Matera
leigh@gmkcommunications.com
KEYWORD: UNITED STATES SOUTH AMERICA NORTH AMERICA BRAZIL GEORGIA
INDUSTRY KEYWORD: SECURITY DATA MANAGEMENT TECHNOLOGY FINANCE FINTECH BANKING BLOCKCHAIN PROFESSIONAL SERVICES ONLINE PRIVACY ARTIFICIAL INTELLIGENCE PAYMENTS SOFTWARE DATA ANALYTICS INTERNET MOBILE/WIRELESS
SOURCE: Matera
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PUB: 08/15/2023 09:00 AM/DISC: 08/15/2023 09:01 AM
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