Daxsen Group to launch new digital bank in Ecuador

The Daxen Group in Ecuador will launch a new digital bank in the country of Daxen Bank with the support of investment management firm Daxen Capital.

Daxsen Group Launches Own Digital Bank

With Daxsen Bank, the company will reduce operating and transaction costs to revolutionize the country’s banking sector.

“It’s aimed at digital banks that open accounts for free and improve their banking operations by managing low-risk online products and services such as savings accounts, payroll prepayments, and confirmations,” Daxen said. increase.

According to the company, the project started in 2022 and has two phases. The first event takes place in the first year of operation and focuses on attracting local customers and promoting their products.

The second time will start from the second year of operation. This phase is due to the goal of “creating correspondents in different countries, acquiring portfolios from other financial institutions, expanding the trading network and servicing third parties,” Duxen said. It states that it is aimed at expansion.

One of Daxsen Bank’s proposals is to allow multiple websites or apps to pay for large quantities of products or services using the funds available in any bank account without the need for a card. Includes payment button.

In addition to debit and credit cards, we also offer merchant cards that allow any brand to have their own credit card issued by a financial institution.

In addition to developing fraud and money laundering prevention systems, FinTech says it will also implement one-time passwords (OTPs) to provide a second layer of authentication for “critical” transactions.