The startup N5 Now, developer of software for Fintechs, Banks and Insurers, was once again awarded an international award by Microsoft. This time recognizing its N5 suite as “Best Platform 2022”, for being the only one designed for Openfinance (openbanking and openinsurance), and for the impact it is generating on its clients.
She will be honored at the second edition of the Microsoft Inspire event, which will take place between July 19 and 20. It was recognized among 3,900 nominations from more than 126 countries, for its rapid growth, the impact of its solution in the financial market and the exemplary use of Microsoft technologies.
“We are proud of this award, we received it as a reward for our work, effort and commitment to our clients and as irrefutable proof that the financial industry demanded a customized platform, based on the real needs of the sector, and with an impact tangible in your income statement”, emphasized Julián Colombo, CEO of N5 Now who highlights that his product has a 99% satisfaction rate.
The platform chosen by Microsoft has the fastest implementation on the market – from 100 days per contract – and manages to increase productivity by more than 50% and improve NPS (customer satisfaction) by more than 20 points, in addition to reducing maintenance costs. distribution by 16%.
“I want to congratulate N5 Now for winning this award out of 800 companies in such a difficult category. It is not easy to be constantly innovating, integrating and creating new products, what they are doing is extremely valuable and how they are helping the traditional financial industry to enter a technologically different world. Today N5 Now is leading the digital transformation and the impact it is generating in the market is key”, highlighted Mariano Amartino, director of Microsoft for Startups for Latin America.
The fintech will start an investment round with top level players. “By exceeding 2 million dollars in annual recurring income, we feel that it is time to incorporate strategic allies that allow us to scale a very solid and efficient model”, concluded Colombo.
From starting with $100 to doubling in size annually
N5 Now was born 5 years ago in the United States by the hands of seven Argentine founders and directors, including Julián Colombo, an economist and journalist with more than 20 years of experience at Banco Santander.
Since its inception, the company has been entirely financed by clients, willing to advance money in exchange for being the first to obtain the platform that allows the complete digitization of companies in the financial industry.
Last year was key for N5 Now because after being recognized by Microsoft as “Startup of the Year” in Latin America, it had a very significant increase in the number of clients.
According to its CEO, “the initial investment, and somewhat accidental, was $100.” “When we were opening the bank account in the United States, we had to make a deposit of that value to make it operational. And we all looked at each other and laughed because we realized that almost no one had cash at the time, so we rummaged through pockets and purses and finally we put them together”.
Today, with 200 collaborators around the world, offices in 14 countries and a large presence in Latin America, N5 Now pursues two central objectives: the digital transformation of its clients and financial inclusion. “Profitable digitalization, capable of intelligently reducing costs, will allow millions of people to access services today reserved for only half of the Latin American population, for example,” said Colombo.
Its current clients, about 45, range from European multinational banks to public banks in Argentina, from insurers in Switzerland, to means of payment in Arabia, and from Brazilian Fintechs to American investment funds.
Source: Forbes Ar
