A FINANCIAL REVOLUTION IN LATIN AMERICA
BRINGING RADICAL CHANGE AND IMPROVEMENT TO A REGION IN NEED
Imagine a region where a simple wire can be a daunting task taking up to two weeks at high costs; where there is limited access to basic banking services (e.g. insight into transactions, creditcard issuance); Where you can forget being able to purchase anything online; With business owners having no access to basic funding or only at a 12-19% interest rate. A region without a proper exchange for buying, selling and trading of stocks, derivatives, futures and swaps. And don’t get us started on remittances! A US$75 billion market in 2017 (and growing), yet still taking forever and expensive with fees of 8-12%.
This failure to keep up with technological advances in the financial services industry is impeding regional economic growth and competitiveness in Latin America and the Caribbean. Costing more time and funds for even basic financial transactions, compared to North America, Europe and Asia. This led CEO Maya Parbhoe to pursue the creation of this company. We’re talking about a region with 650 million people, of which 400 million doesn’t own a bank account, yet 70% of them do have access to an internet connection and/or mobile phone.
With the opportunity to make a change, the ultimate goal of OuroX is to advance financial inclusion in the Latin American and Caribbean region and to thereby provide a lifeline into the future of hundreds of millions of people. The company is therefore preparing to launch a comprehensive set of cutting edge FinTech based financial and trade services in the Latin American and Caribbean regions, including:
- A highly innovative securities exchange with a comprehensive trading platform and professional UI;
- An online and mobile payment processor;
- A comprehensive multi vendor marketplace;
- A regional shipping costs calculation tool.