May 7, 2018 / 1:16 PM / 16 days ago

Brazil fintech Neon Pagamentos partners with Banco Votorantim

SAO PAULO, May 7 (Reuters) - Brazilian financial startup Neon Pagamentos SA said on Monday it has formed a partnership with Banco Votorantim SA, seeking to quickly normalize operations with its 600,000-client base after suffering a regulatory blow last week.

On Friday, Brazil’s central bank liquidated smaller lender Banco Neon SA, which was used by Neon Pagamentos to process checking accounts, due to a breach of regulations, forcing the so-called fintech to partially halt operations.

In a statement, Neon Pagamentos said it will work to stabilize its services as soon as possible.

Banco Votorantim is Brazil’s sixth-largest private lender and has as one of its shareholders state-controlled bank Banco do Brasil SA. (Reporting by Carolina Mandl)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below