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The company will develop innovative new products and services tailored to financial institutions, credit card companies and consumers
ATLANTA–(Antara/BUSINESS WIRE)–#AIFintech—Matera, a world-class maker of instant payments, QR code and digital ledger technology, today announced the strategic acquisition of Cinnecta, a leading AI company known for its solutions in customer retention, loyalty and digital experience enhancement.
This acquisition supports Matera’s mission to provide unrivaled value to clients, especially in critical domains such as client retention and expanding transaction volumes. By aligning strengths, Matera and Cinnecta will enable clients to enhance their sales capabilities by providing intelligent and actionable insights. With meaningful data, clients can offer their customers a wider range of products and services tailored to their needs, right when they need it.
Why Cinecta
As AI explodes across industry and product offerings, often without any real proof, Matera is diligent about authenticating Cinecta’s AI capabilities. Matera identified Cinnecta as a provider of original AI solutions in line with the company’s vision after a year of careful search. With guidance from the MIT Ph.D. consultant, Matera believes that this union is strategic, impactful and without empty promises.
“Matera is at the forefront of driving the expansion of Pix in Brazil, enhancing the financial ecosystem with innovation and synergy. We are now ready to enable our clients to add significant value to Pix transactions by seamlessly connecting our retail bank, which manages more than 60 million accounts, with other clients offering merchant services,” said Carlos Netto, Co-Founder and CEO of Matera. “This integration aims to not only increase transaction volume but also drive client retention and increase their business potential around Pix. With strategic support from Cinnecta, Matera is ready to implement this visionary approach, enhancing our commitment to driving growth and excellence in the financial sector.”
Central to Cinnecta’s success is its stellar team, recognized as “Best Place to Work” in the state and fifth in Brazil. Matera aims to capitalize on this difference and set new benchmarks in organizational excellence.
Cinecta is based in Belo Horizonte, often considered Brazil’s AI Valley. This is the same place where Google is anchored in Brazil through an acquisition that led to an important R&D center.
Mapping the Future of Fintech Innovation
Cinecta will be the centerpiece for developing AI solutions, complementing Matera’s suite of offerings. Combined companies will be able to innovate on new scales to provide unrivaled client experiences. Its transformative banking solutions can pave the way for a smart connected financial future.
“We are fully aligned with Matera’s vision for payments and banking technology in Brazil and its expansion in the US,” said Cinnecta Co-founder and CEO Eduardo Ferreira. “This is an incredibly exciting time to join the company, with Matera pushing into new territory. This is an opportunity to apply our technology to change the industry.”
The terms of the deal were not disclosed, and the existing customer relationship will not change, as it will be serviced through Matera. With Matera and Cinnecta currently sharing many of the same clients, the company will ensure seamless integration.
Learn more at www.matera.com.
About Mather
With more than 30 years of experience, Matera has proven technology, deep fintech expertise, is a trusted partner and is known as a pioneer. Core banking and Pix Matera instant payment solutions are used by 2 of the top 3 global banks, 3 of the top 10 US banks and 1/3 of all banks in Brazil. More than 300 million Pix instant payments are processed per month using the Matera solution and 60 million of them start with a QR code. Matera is also known for collaborating to launch innovative fintech applications that generate new revenue streams for their clients. Operating in Brazil and the US, Matera has nearly 1,000 employees worldwide.
About Cinecta
Cinecta is a data intelligence company that specializes in understanding customer behavior to identify opportunities to increase LTV (lifetime value). Its platform is changing the way businesses assess customer 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 the 5th best company to work for in the national ranking – Great Place to Work for companies with up to 99 employees. It also takes 3rd place in the category recognizing Open Innovation initiatives. Learn more at www.cinnecta.com.
Contact
For Editorial Contact:
Leigh Disher
GMK Communication for Matera
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