Blogs > Infrastructure upgrades will change financial services, says Ricardo Josua
02 June –

Infrastructure upgrades will change financial services, says Ricardo Josua

Our Co-Founder and CEO talked to the business news website [EXP] about Pismo’s partnership with OneConnect targeting Southeast Asia.

Fernanda Testa

Pismo’s recent partnership with OneConnect, an associate of the Ping An Group, is a strategic move to the company’s global expansion and a significant opportunity to advance with our solutions in the Southeast Asia market. 

Ricardo Josua, our Co-Founder and CEO, talked to the journalist Monica Miglio Pedrosa, from the Brazilian business news website [EXP], about Asia’s transformation process in financial services and its opening for non-local suppliers. He says that although there are some cultural and technological challenges to overcome, the Asian market has great potential. 

Our first perceptions are that the teams are extremely diligent and intensely focussed  at work, showing a high level of commitment and exceptional energy levels.” 

Global expertise 

Ricardo says that Pismo’s international expansion is well supported by Vishal Dalal, CEO for North America, Europe, and Asia. As a former McKinsey consultant, Vishal has extensive expertise in the Asian, European, African, and American markets. 

“The problem we see in Latin America regarding financial services processing is global. Estimates indicate that 80% of banking systems are still written in Cobol, running on infrastructures with 1980s technology. The big change will happen when we upgrade the infrastructure of financial systems. Our focus is to deliver this international expansion with our technology”, Ricardo explains. 

Pismo’s next steps

With clients in North and South America, Europe, and Asia, Pismo manages more than 50 million bank accounts and processes US$ 9.1 billion in transactions monthly. According to Ricardo, the company seeks to consolidate its brand in these regions. 

The long-term target is to expand our offering facing today’s digital transformation needs in financial services. “Everything we do is still limited by the old conventions of financial systems. Without these limitations, we are prepared to do much more”, says Ricardo. 

The interview is available in Portuguese on the [EXP] website.

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