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Kuvasz Solutions expands into North American market

Monday, September 16, 2024 — 12:48:02 (EDT)

Kuvasz Solutions Expands into North American market, Enhancing Leadership Team to Meet Rising Demand for Payment Services

September 16, 2024 09:00 AM Eastern Daylight Time

SANTIAGO, Chile & MIAMI--(BUSINESS WIRE)--As the global payments landscape undergoes rapid transformation, Kuvasz Solutions, a leading provider of payment services and solutions, is pleased to announce the opening of its U.S. office and the expansion of its executive team. This strategic move aims to leverage Kuvasz Solution's extensive expertise, skilled resource base, and lab-based innovation to better serve clients in North America and across the globe.

The financial services industry in North America is currently navigating several critical transitions, including the upcoming Fedwire ISO 20022 compliance requirements. Despite the approaching deadline, recent surveys indicate that only about one-third of North American banks feel prepared. Meanwhile, over half of these institutions are already connected to multiple real-time payment networks, accelerating the deployment of additional solutions and embracing FedNow, the Federal Reserve’s new instant payment system. As a result, Kuvasz Solutions is responding to the heightened demand for specialized services and solutions.

Andreas Suma will lead Kuvasz Solution’s expansion in North America. With over two decades of experience in driving growth strategies, Andreas brings a wealth of knowledge in payments, fraud, and digital channels. His career includes leadership roles at industry leaders such as ACI Worldwide and FICO, making him a key addition to the leadership team.

Christian Montesdeoca, CEO of Kuvasz Solutions, emphasized the importance of this expansion, stating: "This expansion is a natural progression as we witness increasing demand for our services and innovative solutions beyond our regional footprint. Recently, Kuvasz Solutions developed Brizmo, an Instant Payment platform that addresses interoperability and delivers last-mile services for an payment ecosystem. Currently in its initial deployment in Colombia, this platform will see demand where real-time payments are rapidly expanding.

Expanding our leadership team is a crucial element of our growth strategy, enabling us to better serve clients through our growing network of strategic partnerships."

Andreas Suma, Managing Director of Kuvasz North America, highlighted the synergies between the Latin American and North American markets: "Latin America has emerged as a fintech incubator in recent years, and Kuvasz Solutions has played a pivotal role in helping clients across the region, from Mexico to Argentina, innovate and expand their payment capabilities while meeting regulatory and compliance hurdles. We are now seeing similar needs in North America as real-time payments and flexible, digital channels continue to reshape payments. Kuvasz Solutions is positioned to help financial institutions and fintechs to navigate these compliance, deployment, and maintenance challenges and seize new opportunities in bringing new payments capability to market with clients and partners."

About Kuvasz Solutions

With more than 15 years of experience, Kuvasz Solutions is a leading provider of payment services and solutions, specializing in helping financial institutions innovate and grow in the ever-evolving payments landscape. Through strategic partnerships and a commitment to lab-based innovation, Kuvasz continues to deliver services that drive growth and success.

Contacts

Sebastian Gonzales Nallar | Head of Marketing | sgonzalez@kvz.cl

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Source: Company press release.