Matera boosts digital payment strategy with acquisition of AI leader Cinnecta
In a move set to revolutionize the digital payment landscape, Matera, a prominent player in instant payments, QR codes, and digital ledger technology, has announced its strategic takeover of Cinnecta. Known for its cutting-edge AI solutions that drive customer loyalty and enhance digital experiences, Cinnecta now strengthens Matera’s commitment to provide unparalleled client value, particularly in pivotal areas like customer retention and transaction volume enhancement.
By synergizing, Matera and Cinnecta will empower businesses to optimize sales through actionable AI-driven insights. Such data-backed intelligence will enable clients to pitch a wider array of timely, customer-centric products and services. Amidst a burgeoning AI market, often riddled with unsubstantiated claims, Matera’s thorough year-long search finally zeroed in on Cinnecta’s authentic AI prowess. This acquisition, fortified by expert consultation from MIT Ph.D. specialists, promises real-world AI advantages rather than mere hype.
Carlos Netto, Matera’s Co-Founder and CEO, shed light on Matera’s instrumental role in bolstering Brazil’s financial landscape via Pix, remarking, “Our alliance with Cinnecta equips us to further augment Pix transactions, bridging our retail banks, holding over 60 million accounts, with our expansive merchant services clientele.” He emphasized the acquisition’s capacity to enhance transaction volumes, bolster customer loyalty, and unleash the latent business potential around Pix.
A pivotal reason behind Cinnecta’s acclaim lies in its award-winning team, lauded as the “Best Place to Work” in Brazil. Cinnecta’s home, Belo Horizonte, often dubbed as Brazil’s AI Valley, is also where tech giant Google laid its Brazilian foundation. In this AI hub, Cinnecta is poised to become the cornerstone for AI solution ideation, magnifying Matera’s service suite. Together, the conglomerate will architect an AI-empowered financial future, defining transformative banking solutions.
Echoing Matera’s ambitious vision, Cinnecta Co-founder and CEO Eduardo Ferreira stated, “Our technology, in conjunction with Matera’s expansionary vision, has the potential to truly reshape the industry.”
The terms of the acquisition remain confidential. Existing client engagements will remain unaffected, with Matera overseeing customer relations. Given the pre-existing client overlap between Matera and Cinnecta, both entities pledge a frictionless integration process.