Table Colombia Challenge

• English
• Spanish

In Latin America, with 90% payments are cash and low financial inclusion, financial institutions have benefited from agent networks as a powerful tool for coming closer to customers, reducing banking hall congestion and reducing cash costs.

Despite important achievements, financial institutions are still far from the people in the base of the pyramid and there is still low penetration. We are wasting the power of the store owner  in his community as a change agent.

Imix omnichannel platform connects financial institutions with local stores enabling the creation of phygital financial services networks for financial inclusion.

Imix platform evolves "Correspondant Banking" business model into FinTech. No physical branch allows high scalability and high capilarity, no investment required other than a profit-sharing scheme. The phygital ecosystem allows financial services to be provided within the convenience and familiariy for those in the base of the pyramid.

Imix integrates digital procesess such as onboarding, services and education for channel management. With a carefully desinged user experience that has the storekeeper in mind, the strategy tackles financial education benefiting from technology and the benefits of human interactions in their own community.

The store-owner becomes last mile financial services provider, enabling a relational community approach to financial products such as micro-credit, micro-insurance and micro-savings.

Both payments and retail convergence and phygital are major innovation spaces with huge transformations happening.

Correspondent Banking has proven a highly efficient vehicle for financial inclusión all through Latin America. Currently MinHacienda and Unidad de Regulación Financiera are evolving regulation for creating “digital” or “mobile” correspondents as last mile financial services channel. Felaban reports 516.000 registered correspondent Banks last available report 2017, and Finnovista has estimated a US$1,3 Billion opportunity in network payments space for 2021.

Imix cares about the participants integrating the phygital ecosystem: the network managers in the financial institutions and the store-owners who serve the end users in their communities.

Imix has crafted a savvy user experience that integrates processes communicates, and empowers so the strength of the Alliance transforms the communities by providing opportunities.

This human, relational approach to the channel differs radically from the POS based traditional correspondant banking, which is strictly transactional and focused on cashy payments, where no visibility, communication or education is available impacting on high churn rates for stores.

Imix platform increases capilarity by reducing store onboarding and enabling costs, reducing churn, and increasing store revenue with new, high value transactions.

No hardware (POS) required, the platform is provided SaaS, and charged as a per-agent or per-transaction approach, allowing both financial and micro-finance institutions to benefit from this channel.

IP is registered in Colombia

Imix digital correspondents platform is currently used by 10 paid customers in Colombia, with more than 100k agents and 30 million yearly transactions.

With a regional expansion in execution, with a signed Partner in Ecuador and received invested by 2 peruvian funds.

Imix has been accelerated by Ministerio de Tecnologia Apps.Co Digital Business Expansion  in two cycles, by Corporacion Ventures, Seedstars and Wayra.

Imix has succesfully participated in Digital Bank LatAm startup fintech selection in Colombia, Ecuador, Peru, Panama and Argentina during 2018 and 2019.

Technology partnerships include AWS and Microsoft

We embrace impact both in terms of capilarity and transactionality

KPIs include

# ecosystems

# agents

% agents growth

# trasactions

% transactions growth

# new transactions into ecosystems

International Partnerships provide a local footprint and leverage: currently Telefonica in Peru, and Grupo MAS in Ecuador

Financial Inclusion Consulting alliances provide access to funding projects in rural ecosystems: Fundacion Capital

Imix team is currently 13 employees, all committed to phygital financial inclusion. Prior to launching the platform in 2017, Imix  provided IT services to networks since 2012, so the team is solid and experienced.

Founding Partners are Sandra Rubio and Mauricio Mendez

Sandra Rubio

https://www.linkedin.com/in/sandra-rubio-dacosta-8206332/

Sandra is Imix CEO, responsible for go to market and strategy. A savvy IT Leader, prior to Imix, Sandra worked for Microsoft, Xerox and the local Heinsohn Business Technology as a Senior Sales & Marketing Vicepresident.

Sandra is a female empowerment advocate, actively invoved with organizations such as Women Economic Forum, Geek Girls, Inspiring Girls.

Mauricio Mendez 

https://www.linkedin.com/in/mauricio-m%C3%A9ndez-ba9335/

Mauricio leads IT and Operations in Imix. He has a double degree from Universidad de los Andes in Engineering in Systems and Electric.

Pior to founding Imix in 2011 Mauricio was COO and CTO for MovilRed, and  VP in Citibank.

Imix has secured first round investment from two peruvian funds: Wayra Peru and The Board. US$175.000 for 11% cap.

Our contribution to the world via developing financial inclusion phygital ecosystems is alligned to:

• Reducing poverty
• Gender equality
• Decent work and economic growth

We believe in bringing opportunities to communities. We know that one credit opportunity, one micro-insurance, one savings account can change the future for a whole family. We are commited to making financial access a standard in urban, sub-urban and rural communities all accross latin america.