A lot has changed in the world lately, and a lot is changing in the world of FinTech as well.
Airfox, along with a growing force of like-minded innovators, endeavors to pioneer the future of financial services and facilitate greater financial inclusion. We are the embodiment of FinTech. We act on our mission by leveraging technology to break down traditional barriers with modern solutions:
- Where traditional branch banking is increasingly expensive and inconvenient to low-income and rural neighborhoods, we supply branchless banking and make money accessible through an easy-to-use mobile app and convenient physical retail locations.
- Where traditional credit scores exclude people who don’t have complete financial histories and deny worthy applicants as too risky and expensive for lending, we plan to employ machine learning and data science to generate more equitable and inclusive creditworthiness calculations. …
It’s safe to say that, for most people, 2020 felt like a whole decade crammed into one year. Looking back on the past 12 months for Airfox really drives the point home.
This year marked our fourth anniversary as a company and we kicked off January 2020 with some impressive milestones. World Finance Magazine selected banQi, our inclusive mobile banking platform, as the Best Consumer Bank and Best Mobile App in Brazil. Our development team added some fantastic new features to banQi, making it even easier and less expensive for Brazilians to access their money and build wealth. …
Cathy fell in love with the diversity of Brazil and never looked back. Today, she’s helping bank the unbanked in Brazil with Airfox.
Senior Manager of Business Analytics, Cathy Melnikow, is one of Airfox’s most valuable employees when it comes to bridging the gap between our Boston and Brazil offices, thanks to her time spent living and working in both countries learning their cultural similarities and differences. …
Steadfast service for banQi users guides our efforts
Despite the continuing pandemic and widespread economic uncertainty, Airfox has been fortunate in experiencing an explosion of growth with banQi this year:
- We saw an 83% increase in new banQi accounts early in the year (Q1 vs Q2)
- In July, we charted 93% user growth month-over-month
- We recently surpassed 1 million downloads on Google Play and an iOS version of banQi is now available for iPhone users from Apple’s App Store.
- To cap it all, last month banQi became one of the top-rated digital accounts on ReclameAQUI (the highly regarded Brazilian consumer protection agency). …
As cashless transactions become the new normal, underbanked Brazilians need a digital banking option.
At Airfox, we’ve always believed that mobile technology can deliver greater financial inclusion more fairly, quickly, and effectively than any other means. The continuing coronavirus pandemic shows that mobile solutions might also deliver financial services more safely, too.
What’s happening?
A largely misinterpreted comment from a World Health Organization spokesperson in March led to widespread news reports that cash transactions should be avoided due to increased risk of viral spread via banknote surfaces. …
Depositing cash in banQi just got easier
With the acquisition of Airfox now finalized, the Airfox team is accelerating the development of our banQi app and new features. As part of the Via Varejo group, we are furthering our mission to offer underbanked Brazilians accessible, affordable, and simple financial services on a larger scale.
By leveraging Via Varejo’s resources, the Airfox team has developed and launched a new way for banQi users to make cash deposits. In addition to making deposits at Casas Bahia stores, banQi users can now make deposits at lotéricas and have the money added directly to their banQi accounts.
What are lotéricas?
Lotéricas are stores throughout Brazil where people can pay utility bills, carnês, bill installments, invoices, and various other bills. Lotéricas are convenient and make paying bills simple and easier for Brazilians. With a network of over 13,000 lotérica stores across the country, lotéricas are accessible to a wide range of the Brazilian population — more than any bank in Brazil. …
A new UI, better card security, and more updates from the Airfox team.
Airfox constantly strives to innovate and find new ways to improve our users’ experience with banQi. Since its launch in June 2019, we have built new features and developed better ways to make the app as accessible and simple as possible in order to offer the underbanked a fair and viable banking option.
Recently we reached 500,000 downloads on the Google Play store, won various awards, and partnered with several Brazilian organizations to support the most vulnerable through the current crisis. But, we’ve also remained focused on improving our banQi app and developing much-needed services for our users.
banQi has a sleek, new UI design
We recently revamped the user interface of our banQi app. With a lighter and cleaner look, banQi is now easier to navigate for our users. While we liked the old design, this UI is more polished and furthers our mission of making financial services more accessible and simple for our users. …
banQi app recognized in LATAM category of World Changing Ideas award by Fast Company
The winners of Fast Company’s 2020 World Changing Ideas Awards have been announced today, honoring the businesses, policies, projects, and concepts that are actively engaged in and deeply committed to innovation when it comes to the climate crisis, social injustice, or economic inequality.
Airfox is honored to be recognized as a finalist in the LATAM category for bringing financial inclusion to Brazil and empowering the unbanked through the banQi app. …
Airfox ramps up banQi feature development in response to COVID-19
The whole world is adjusting to life under pandemic conditions. As COVID-19 continues its spread across the globe, populations large and small are changing habits, learning to avoid physical contact with others as much as possible, and offering support to their communities in whatever ways they can.
The hope is that, together, we can flatten the curve of projected coronavirus cases so that health systems are not overwhelmed and those most in need will have access to the best available care. …
Airfox is enabling the transfer of R$1 million to 2,000 women
We’re proud to be working with the Casas Bahia Foundation to operationalize their Fundo Emergencial Mulher Empreendedora (Entrepreneurial Women Emergency Fund) initiative.
The initiative involves the donation of R$1 million to 2,000 women who live and work on their own in the cities of São Paulo and Rio de Janeiro and have been affected by the COVID-19 pandemic. Airfox’s banQi app will facilitate this large financial operation — enabling the transfer of R$500 to each female entrepreneur.
Innovating to support communities
Small businesses and micro-entrepreneurs are among the most affected in this global pandemic. To support the most vulnerable and to strengthen Brazilan communities, the Casas Bahia Foundation is utilizing our banQi app to financially benefit female entrepreneurs impacted by the COVID-19 crisis. …
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