CASE STUDY

SERVICES IMPLEMENTED

• Core Banking & Digital Wallets – Implementation of 100% digital electronic accounts, allowing Nequi to offer agile and inclusive financial services in El Salvador.
• Payments & Payouts Orchestration – Comprehensive payment management solution that facilitates interoperability with banks, digital wallets, and cash payments, enabling instant transfers.
• Compliance & Fraud Prevention – Integration of a KYC/KYB engine with real-time validations and anti-fraud monitoring to ensure transaction security.

‍CONTEXT AND CHALLENGE

Nequi, one of the leading digital wallets in Latin America, sought to expand its presence in El Salvador with an agile, secure, and inclusive solution that would allow more people to access financial services without relying on traditional banking infrastructure. The challenge was to ensure a scalable platform with real-time payment processing and a frictionless user experience.

OUR SOLUTIONS

INSWITCH deployed its digital banking platform, enabling Nequi to offer electronic accounts to Salvadoran users with the ease of 100% digital opening and management.

Through its API-first architecture, the solution integrated with local financial systems, allowing instant transfers and access to multiple payment methods.

To broaden platform adoption, a comprehensive payment management system was implemented, ensuring interoperability with banks, digital wallets, and cash payments. This allowed users to easily top up and withdraw money, fostering financial inclusion and reducing reliance on cash.

Additionally, Nequi integrated INSWITCH's KYC/KYB compliance engine, guaranteeing real-time identity validations and anti-fraud monitoring to offer greater security and trust in transactions.

The modular cloud infrastructure allowed for rapid scalability and optimization of operational costs, facilitating the expansion of the service in the region.

‍RESULTS AND BENEFITS

As a result, Nequi achieved:

• Increased financial inclusion, providing access to digital services for unbanked users.
• Optimization of the real-time payment process, eliminating friction in daily transactions.
• Facilitated interoperability, connecting digital wallets, banks, and cash payments in a single ecosystem.
• Guaranteed security and regulatory compliance, minimizing fraud risks and ensuring user trust.

CONCLUSION AND FUTURE

INSWITCH continues to drive the digitalization of financial services in Latin America, offering advanced technological solutions that allow leading companies to scale and improve their market impact.

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