Trust beyond borders

Vambora 2.0 is here! 🚀
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We have been in stealth mode for the past 9 months. Talking with newcomers. Connecting with businesses. We listened. We learned. We took action.

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For me, the most critical part of any journey worth pursuing is who we become along the way, and these past nine months changed Vambora because we could fully understand our mission.

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In the past 9 months, we had many challenging moments. Beat-up moments. Moments that we thought our dream had come to an end. But we learned this will only happen over time because we're doing this for a more significant cause. There's a bigger cause for what we're doing. We couldn't fully understand but knew it was bigger than us.

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Today we are excited to announce the first global financial identity system empowering individuals and businesses to build meaningful relationships.

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Beyond credit and towards a united future

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We helped hundreds of newcomers to Canada and learned the difference between what they need and want.

Newcomers need better and more equitable access to products and services when relocating internationally, but they really want to trust and be trusted.

We did some testing with newcomers moving to Canada to test our hypothesis. We learned that they needed a third party to guarantee the integrity of the information. However, they wanted to be trusted by service providers in their new country.

When trust is established between the consumer and the service provider, the transaction cost is reduced to acceptable levels where they can transact.

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Our mission is to build a more equitable financial system beyond credit to unlock economic opportunities.

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Until now, credit was the only way for businesses to underwrite consumers. As a result, many individuals with poor, thin or non-existent credit profiles are left out of the financial system. The problem is that credit only tells part of the story...

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‘Building trust’ as our true north will shape who we are and what we do as a company.

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Building Trust via Product

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We're excited to announce that the Vambora Trust Profile is now in Beta, primarily targeted to property management companies and landlords looking to verify domestic and international consumers in the lease application process.

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Utilizing Open Banking data and digital identity verification, the Trust Profile serves the purpose of enabling individuals and businesses to make data-informed decisions.

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These are the features we're releasing in the Beta version:

1. Open Banking data, which enables businesses to access financial data with the customer's consent.
2. Digital Identity Verification, which includes KYC/AML for individuals and KYB for businesses, ensuring all parties are who they say they are.

We're starting operations for those living or relocating to Canada and the United States.

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Building Trust via Compliance

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To build trust we also need to make sure we adopt the best standards in security and privacy, and that's why compliance is so important to Vambora.

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To deal with regulations from multiple different jurisdictions and systems, we decided we needed to make a change in our corporate structure.

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Laura Ferreira is stepping up as Chief Operating Officer, bringing her background in law and experience with compliance and regulations to the team. She'll be responsible for adopting industry standards and ensuring privacy remains a top priority at Vambora.

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Compliance is key to earn trust from our community.

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Building Trust via Community

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To build our community, we need to prioritize fostering strong relationships. That means getting closer to our users, customers, partners, investors, and other stakeholders.

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People don't care how much you know, until they know how much you care.

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For this reason, Mark Dickens is now taking on the role as Chief Sales Officer.

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Leveraging his extensive experience in the field, Mark will now concentrate on driving our Business Development and Sales initiatives, as we strive towards expansion and creating a more significant impact.

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To build trust, we need to foster human relationships.

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Trust the Process 🚀

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With a clear picture of the problem we need to solve and the solution we need to build, it’s time for us to fasten the seat belts and get ready to start growing Vambora to the next level.

Let’s go!