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Press release content from Business Wire. The AP news staff was not involved in its creation.

Banesco USA Partners with Renowned Silicon Valley Innovation Platform, Plug and Play

April 1, 2019

MIAMI--(BUSINESS WIRE)--Apr 1, 2019--Banesco USA announced today an alliance with  Plug and Play, one of the largest innovation platforms located in Silicon Valley, in support of its digital transformation strategy.

The deal enables Banesco USA to leverage the Plug and Play platform to explore partnerships with the aim of further innovating its consumer and commercial offerings as well as its customer experience. “This partnership allows us to establish meaningful engagements with the best technology companies connected to the Plug and Play ecosystem, providing added fuel to our innovation, growth and modernization strategies,” said Banesco USA CEO, Jorge Salas.

“Due to South Florida being the headquarters of Banesco USA and considering its proximity to Latin America, this partnership will also provide a gateway for our startups to enter the LATAM market,” said Saeed Amidi, CEO for Plug and Play. “We are excited for them to join our global fintech ecosystem and look forward to connecting them to our startups.”

According to Gustavo Rengifo, VP, Head of Customer Experience for Banesco USA, the alliance allows the bank to have access to quality startups across a variety of verticals including FinTechs, among others. “The ability for startups to quickly develop and integrate winning proof-of-concepts and go-to-market strategies are key for the bank,” he said.

Banesco USA previously announced the partnerships with FinTech nCino and Q2 e-banking to transform its Commercial Lending Operating System and Online and Mobile banking platform respectively.

About Plug and Play

Plug and Play is a global innovation platform. Headquartered in Silicon Valley, we have built accelerator programs, corporate innovation services and an in-house VC to make technological advancement progress faster than ever before. Since inception in 2006, our programs have expanded worldwide to include a presence in over 20 locations globally giving startups the necessary resources to succeed in Silicon Valley and beyond. With over 10,000 startups and 280 official corporate partners, we have created the ultimate startup ecosystem in many industries. We provide active investments with 200 leading Silicon Valley VCs, and host more than 700 networking events per year. Companies in our community have raised over $7 billion in funding, with successful portfolio exits including Danger, Dropbox, Lending Club and PayPal. For more information, visit  www.plugandplaytechcenter.com

About Banesco

Founded in 2006 and based in Coral Gables, Banesco USA is an independent Florida state-chartered bank ( https://banescousa.com/OFR-Cert-of-Good-Standing.pdf ) with $1.28 billion in assets as of December 31st, 2018. Banesco USA is completely independent of Banesco in other countries and its deposits are insured by the FDIC. The bank has four branches in South Florida: Coral Gables, Doral, Hialeah and Weston; and one in San Juan, Puerto Rico. It plans to open a branch in Aventura, FL in first quarter of 2019. Banesco USA has a 5-star rating from the Bauer Financial rating service and a BB- Fitch Rating. Visit  www.BanescoUSA.com  for information.

View source version on businesswire.com:https://www.businesswire.com/news/home/20190401005576/en/

CONTACT: Press Contact:

Renée Alvarez

Pinta for Banesco


305-615-1111 ext.114




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PUB: 04/01/2019 10:45 AM/DISC: 04/01/2019 10:45 AM