Feb 13, 2024

Announcing Vambora 3.0

Unveiling Vambora 3.0: A leap towards financial freedom with Ava, your AI financial guide, and the Trust Hub, pioneering secure, inclusive financial management for all.

Announcing Vambora 3.0

Announcing Vambora 3.0: Empowering Financial Futures with Innovation and Inclusivity

In the intersection of technology and finance, we have always been committed to breaking down the barriers that stand between individuals and their financial well-being. With the unveiling of Vambora 3.0, we're not just introducing new products; we're starting a new era at Vambora, driven by empowerment, accessibility, and innovation. Today, we're excited to share with you Vambora's plans for 2024: the launch of Ava, Vambora's AI-powered financial assistant, and the Trust Hub, a revolutionary platform to bridge the Trust gap between individuals and businesses.

From Vision to Reality: The Vambora Journey

Our story began with a simple question: How can we make the financial journey easier for those moving to Canada? Vambora 1.0 sought to answer this by providing a cost estimator tool, leveraging a crowdsourced extensive database for individuals moving to Canada. We also had a service marketplace, providing newcomers access to product and services they needed upon relocation. However, we quickly realized that the challenges faced by newcomers, particularly in accessing housing due to a lack of credit history, required a more robust solution.

With Vambora 2.0, we laid the foundation of the Trust Hub and introduced the Trust Profile, connecting with over 5,000 financial institutions across 26 countries. This innovation enables individuals to securely connect their bank accounts to create a Trust Profile, a Digital ID that gathers essential financial and identity data to support their journey in Canada.At the end of 2023, the Canadian Government announced they're introducing Open Banking legislation in 2024, which was a pivotal moment for us as a company. Since then, we have been approached by large enterprises requesting a more robust and secure solution. They all want access to our consumer data pipeline to enhance AI risk models for credit underwriting and lead generation.

In 2024, Vambora 3.0 will be about bringing to consumers and businesses a suite of AI-driven solutions layered on top of Open Banking data.

Meet Ava: Vambora's Automated Virtual Assistant powered by Chat GPT

When was the last time you had an honest conversation about your finances with someone? Exactly.

Ava is a financial assistant designed to simplify and guide you through your financial decisions. Powered by Open AI's Large Language Model (LLM), Ava offers a conversational user experience, simplifying money decisions for you. By connecting your bank accounts to your Trust Profile, Ava can help you have that money conversation without judgement. She can also give you personalized financial guidance, suggesting products and services that are aligned with your financial goals and Trust Profile.

Ava, set to be available as a custom GPT in the OpenAI marketplace, offers tools for budgeting and setting financial goals, utilizing extensive cost of living data. To access tailored financial advice, users can download the app and connect their bank accounts to their Trust Profile. This approach not only delivers personalized advice but also simplifies the process of accessing and subscribing to various products and services.

"Let's go, girrrl!" Campaign

To commemorate Vambora's fifth anniversary on March 8th, we're thrilled to launch the "Let's go, girrrl!" campaign, alongside opening pre-registration for early access to Ava. This initiative shines a light on immigrant women, often rendered credit invisible due to cultural or familial norms, empowering them towards financial visibility and independence.

Advocating for Change: The Open Finance Collective

With the goal of advancing Open Banking in Canada, we've established the Open Finance Collective (OFC), a consortium aimed at creating a financial ecosystem that's inclusive and consumer-driven. Despite Canada's slow adoption of technology compared to countries like the UK and Brazil, we're optimistic about the transformative potential of Open Banking. The OFC will collaborate with 10 companies to leverage the Trust Hub and Trust Profile, demonstrating the power of consumer creditworthiness through global Open Banking data.

Join the Vambora Movement

As Vambora 3.0 takes the stage, we invite you to be part of this transformative journey toward financial empowerment. Whether you're an individual seeking to navigate your financial path or a business aiming to deepen consumer engagement, Vambora stands ready to be your ally.

Let's go!

PS: Vambora in Brazilian Portuguese is a slang for "Let's Go".

Amadeu Ferreira

Amadeu Ferreira

CEO & Founder

About the author.

Vambora's visionary CEO, a tech enthusiast, and problem-solver dedicated to transforming lives through innovation.