Luable is a Latin American bank deposits marketplace designed to connect banks with retail users, enabling banks to secure funding more efficiently than through traditional channels. Luable offers a platform where multiple banks are listed, allowing retail customers to compare and choose deposit products that best fit their needs, while providing banks—especially emerging and digital-first institutions—access to capital without the overhead of physical branches or expanded sales teams.
Since its launch in 2021, Luable has processed over USD $30 million in deposits for various banks across the region and is actively expanding from Colombia into Mexico and the Caribbean.
The Technology That Enables Luable
Luable leverages a fully digital platform that aggregates deposit offerings from numerous banks, creating a single, user-friendly marketplace. This approach allows banks to:
- Reach retail customers digitally across Latin America.
- Reduce costs associated with brick-and-mortar expansion and sales headcount.
- Offer competitive rates and experiences to users through seamless digital onboarding.
For retail users, Luable provides transparency and choice by listing all available bank deposit products in one place, streamlining the process of finding the best option.
Who Uses Luable?
Luable primarily serves two groups:
- Banks (including digital and traditional institutions) seeking efficient, cost-effective retail funding sources.
- Retail users across Latin America who want to compare, select, and place deposits with banks via a digital, centralized platform.
The marketplace is particularly valuable for upcoming or smaller banks looking to scale without the burden of fixed infrastructure costs, as well as for tech-savvy retail customers seeking better rates and more banking choices.
Who Are Luable's Competitors?
Luable operates within the fintech and digital banking ecosystem in Latin America, where both established and emerging companies are innovating in digital deposits and wallets. Key competitors and related companies include:
- Nubank: The largest digital bank in Latin America, known for its fee-free credit card and substantial deposit base across the region.
- Ligo: A Peruvian digital wallet provider.
- B89: One of Peru's pioneering fintechs.
- Rappi: Colombian super-app with digital wallet and banking features.
- Santander Openbank: Santander’s digital bank in Mexico, offering high-yield savings and a fully digital experience.
- Mercado Libre: E-commerce giant rapidly expanding digital banking and wallet services in Latin America.
- TerraPay: Global fintech advancing digital payments and wallets in the region.
While some of these companies focus on broader digital banking or wallets, Luable differentiates itself as a pure deposits marketplace for banks, focusing on efficient retail funding and digital onboarding.
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