Chilean fintech Khipu selected IBM Cloud to host its payment gateway application and help clients, including businesses and retailers in various industries, accept customer payments more quickly. By enabling customers to conduct business in a security-rich environment, Khipu can create a better user experience and help customers close more transactions in less time.
With a portfolio of more than 2,500 monthly active merchants and with 10 million successful payments, $ 1.5 billion raised, and more than 700,000 payers by 2020, Khipu is using the IBM Cloud to address growing customer demand and accelerate growth.
According to data from EY and FinteChile, the pandemic presented a growth opportunity for FinTechs. Additionally, 60% of FinTechs saw a growth in the number of clients served and a 55% increase in transactions facilitated during 2020. To keep up with this demand, while continuing to drive innovation, Khipu needed to implement an approach hybrid cloud as part of your digital transformation strategy.
“Highly regulated industries face unprecedented challenges in managing their data and infrastructure, because they must manage large amounts of data while ensuring a high level of security and compliance with local regulations. As FinTechs take a hybrid cloud approach, technologies like IBM Cloud are helping companies like Khipu address their clients’ needs with security at the forefront” said Agustín Bellido, IBM Chile Technology Leader. “Through the IBM Cloud, we provide FinTechs with tools to build and monetize their solutions, which can accelerate their growth and development and allow them to remain competitive in today’s market”.
Khipu’s payment gateway application, hosted on the IBM Cloud, is designed to help its clients receive electronic transfers securely and in compliance with local data management regulations. It is a scalable solution that can be adapted to the needs of clients of any size in an economically viable way.
“Our greatest differentiator is that each of our clients, regardless of their size, can count on an efficient payment system through unified and secure bank transfers at a very convenient cost for companies. With the support of IBM, we have been able to give our clients the peace of mind that all their operations are safe and in accordance with the national regulatory framework”, commented Emilio Davis, Manager at Khipu.
Khipu uses the IBM Cloud Virtual Private Cloud (VPC) solution that allows them to manage workloads with a high level of security that is required for financial data, it also uses several IBM Cloud services such as: IBM Cloud Kubernetes Service, IBM Cloud Databases, IBM Cloud File Storage, and IBM Cloud Container Registry.