GMB - More than just a payment provider for the betting sector, OKTO has become a global supplier of complete solutions for the segment. I would like you to talk about this new moment for the company and if that is what the company showed at ICE Barcelona.
Leonardo Chaves - The movement is to always look ahead, to the needs of our clients. Now, the operators are in Brazil and face a need that goes far beyond just payments. Yes, payments are very important, it is crucial, because it is where we demonstrate and materialize the entire flow of the operator.
But, in addition to receiving this money, there are other issues. How to deal with money in a country with economic and political instability? Controlled inflation, but still a little high, high interest rates. So, we are working with the vision of offering complete financial advice. We look at what to do with the money in the short, medium and long term, positioning ourselves as a bank, offering all the technological structure that a bank requires.
With this, we provide internet banking so that the operator can pay their suppliers, employees and any other needs, with defined authority levels. In addition, we offer investment advice so that the operator can plan according to their strategy: whether to invest, send dividends abroad or protect themselves from exchange rate fluctuations.
In the area of technology, another important pain point that we worked on was reconciliation. Currently, operators need to make the money available to the user within 2 hours and ensure this reconciliation. To meet this need, we created the TMS (Treasury Management System), which automates the movement of funds 24/7. The operator defines the authority levels, limits and rules, and can operate as desired — every two hours, half an hour, or another interval.
Has regulation in Brazil driven OKTO to develop even more solutions?
Exactly. The regulation of the sector in Brazil has brought new dynamics and needs for operators. We work to anticipate these pain points and offer technological solutions that add value.
We are in Brazil as a regulated institution and always try to find what is a potential pain point for the customer. Whether in the payment issue or in customer conversion. In the end, everything, for any business, revolves around this. We know that the main point of friction is in the KYC process and payments. We created solutions to simplify account registration and maintain high conversion rates.
As a technology provider, we saw that the market suffered with KYC and account registration. What did we do? We created a way to simplify this process, which we call “closed loop”.
While some operators saw deposit conversions drop from over 90% to 60%, we managed to maintain rates above 90% in deposit. At checkout, we are at 99.5%. This is crucial, because a frustrating experience can cause a customer to look for another provider.
What are OKTO's plans for the coming months in Brazil and Latin America?
Our primary focus in Brazil is to ensure stability for our clients in this new regulatory scenario. We are working closely with them, meeting their main demands and creating customized solutions, which we will announce soon.
In Latin America, where I am now also taking on regional management, we are already operating strongly in Mexico, Peru, Chile and Argentina, with plans to expand to other countries throughout the year. This project is under development, but with great expectations because these are emerging countries in the sector and will bring good results.
Is this an expansion of borders for a company that is already global?
That's right. We are well-established in Europe and Brazil. Now, we are seeking the same throughout Latin America.
Will you be attending industry events in the first half of the year in Brazil, such as SBC Rio and BiS SiGMA, in São Paulo?
Of course! Being present is essential, especially at this time of great change and to feel the dynamics of the market. We will participate in SBC in Rio and BiS SiGMA in São Paulo. These events are great opportunities for us to get closer to our customers, understand their demands and present our solutions to potential partners.
Our mantra is "excellence in execution," and to achieve this, we need to have a deep understanding of the needs of the customer and the end user.
Source: Exclusive GMB
