2innovate

What 2innovate does

2innovate is a privately held SaaS company founded in 2016 that builds Frame Banking™, a cloud-native, 100% API-driven, composable payments platform sold to financial institutions across Latin America. Headquartered operationally in Montevideo, Uruguay (with a stated UK holding entity), the company serves Tier 1 and regional banks, niche banks, fintechs, and payment institutions — including named clients such as Santander, Itaú, BTG Pactual, Banco de Chile, Banco Pichincha, Grupo Aval, Sabadell, Western Union, Banred, Ualá, and Techreo. Frame Banking converges multiple payment rails (SWIFT, ISO8583, ISO20022, NACHA, Pix, CoDi, REST, SOAP and others) onto a single core-agnostic architecture, supports 400+ transaction types, and offers zero-code/low-code configuration of business rules, workflows, and settlements. The Palette add-on module adds transaction monitoring, governance, and 24/7 lifecycle visibility.

The platform processes more than 7 billion financial transactions annually across 30+ clients in 13 Latin American countries, with commercial offices in Montevideo, Miami, Mexico City, and Buenos Aires. 2innovate generates revenue primarily through multi-year SaaS subscriptions covering the full payment rail stack under a single contract, supplemented by usage-based components tied to transaction volumes and professional services delivered through system integrator and consulting partners (EY, Globant, GFT, Atos, VASS). The company also runs a partner-led distribution model with alliances to AWS (including an AWS Marketplace listing since October 2024), Google Cloud, Thought Machine (designated LATAM payments partner), Mambu, and Tuum, and executes an enterprise field-sales motion supplemented by proprietary executive events such as the Innovation Espresso series. Leadership is anchored by founder and CEO Hugo Sacchi and CRO Pablo Pereyra Portugal, with a Board Advisor (Edgardo Torres-Caballero, ex-Tuum/Mambu/Feedzai/HP) appointed in July 2025 to drive international expansion beyond Latin America.

Name

2innovate

Legal name

2innovate

Website

https://2innovateit.com

Company type

Private

Founded year

2016

Operating status

Operating

Headcount range

101–250 employees

Short description

2innovate is a Montevideo-based SaaS company selling Frame Banking™, a cloud-native, API-driven payments platform that converges multiple payment rails onto a single core-agnostic architecture for banks, fintechs, and payment institutions across 13 Latin American countries.

Ownership category

akta.pro rank

Product category

Core Banking and Payment Infrastructure Software

NAICS

Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320)

SIC

Finance Services (6199)

akta.pro primary industry

Core Banking & Ledger Systems (Cloud Core, Deposits, Accounts) (FSAGAAAC)

akta.pro secondary industries

Reconciliation, Ledgering & Money Movement Ops (Sub-ledgers, Settlement, Reporting) (FSAGALAL), BaaS Platforms & Sponsor Bank Enablement (FSAGALAA), Remittance & Cross-Border Payment Rails (SWIFT, Local Clearing, RTP Connectivity) (FSAGAKAH)

Keywords

• Core banking software
• Payment processing platform
• Payment rail orchestration
• Transaction monitoring software
• Composable banking architecture

Headquarters

HQ city

Montevideo

HQ country

Uruguay

HQ region

Latin America

Offices4 records

Markets served

GTM type

B2B

Offering type

Software

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure

Revenue model

1. Frame Banking™ SaaS Platform Subscription: 2innovate delivers its Frame Banking™ platform as a cloud-native SaaS subscription, licensing transactional banking capabilities to financial institutions under a single contract. The platform replaces multiple point solutions (payment gateways, reconciliation systems, API gateways, BPM, service buses) with one integrated SaaS offering, creating a land-and-expand revenue model as institutions add payment use cases and rails.
2. Transaction-Based Services: The platform supports volume-based transaction processing across multiple payment rails (remittances, P2P, bill payments, corporate payments, cross-border, etc.), implying consumption-based or volume-tiered revenue components as institutions scale transaction volumes across supported rails.
3. Professional Services & Implementation: Implementation, onboarding, and consulting services are delivered through partnerships with system integrators and consulting firms, providing professional services revenue alongside the core SaaS subscription.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels6 records

Core offering

2innovate builds and sells Frame Banking™, a cloud-native, 100% API-driven, composable SaaS platform that converges multiple payment rails (SWIFT, ISO8583, ISO20022, NACHA, REST, SOAP, CoDi, Pix, and others) onto a single unified, core-agnostic architecture. The platform supports 400+ transaction types across retail banking, corporate banking, fintech, and interbank/ACH segments, replacing legacy transactional systems in core banking without requiring full core replacement. It is licensed to financial institutions under multi-year SaaS contracts, with Palette offered as an integrated transaction monitoring, governance, and anomaly detection module.

Product overview

2innovate offers Frame Banking as its unified cloud-native SaaS platform for next-generation payment ecosystems, complemented by Palette as an add-on transaction monitoring module. The platform provides composable banking architecture that enables financial institutions to break free from legacy systems. Frame Banking supports 400+ transaction types across retail banking, fintech, corporate banking, and ACH/highway segments through its component-based, fully API-driven architecture. The platform converges multiple payment rails onto a single system under one SaaS contract.

Differentiator

Problem solved

Functional benefit

Brands

• Frame Banking™: Cloud-native SaaS platform enabling financial institutions to operate in next-generation transactional ecosystems by providing component-based banking architecture that breaks free from legacy systems.
• Palette

Products and services

• Frame Banking™ Cloud-native, 100% API-driven, composable SaaS platform that converges multiple payment rails (SWIFT, ISO8583, ISO20022, NACHA, REST, SOAP, CoDi, Pix, and others) onto a single core-agnostic architecture. Supports 400+ transaction types across retail banking, corporate banking, fintech, and interbank/ACH segments, replacing legacy transactional systems without requiring full core replacement. Sold under multi-year SaaS contracts to financial institutions.
• Palette Transaction monitoring and governance module integrated into the Frame Banking™ platform, offering real-time visibility into the lifecycle of financial transactions across multiple payment rails. Provides business rules configuration, enterprise monitoring, operations monitoring, backoffice process management, 24/7 insights, 360-degree visibility, anomaly detection, routing optimization, and configurable business rules for financial institutions.

Quantifiable outcome

• 2innovate processes more than 7 billion financial transactions every year across its client base.
• +4 more outcomes

Named customers19 records

Segments4 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration1 record

AI capability6 records

Feature8 records

Partnerships

20 partnerships are on record, tiered core, key and secondary.

• Google CloudcoreTechnology or Integration · 19 August 20242innovate joined Google Cloud Partner Advantage as a Partner-level member for the Build Engagement Model in August 2024. The partnership enables 2innovate to integrate Google Cloud's advanced capabilities into its Frame Banking™ platform, enhancing operational efficiency, security, and scalability. The collaboration provides access to specialized technical support, training, certifications, and the latest cloud innovations.
• AWS (Amazon Web Services)coreTechnology or Integration · 17 June 20242innovate achieved AWS Partner status in June 2024, demonstrating deep technical knowledge and a track record in implementing cloud payment solutions. The partnership provides access to exclusive AWS resources and specialized programs, enabling 2innovate to deliver exceptional technical support and ensure successful digital transformation for financial institution clients. Frame Banking™ became available on AWS Marketplace in November 2024.
• Thought MachinecoreTechnology or Integration · 1 April 20242innovate formed a strategic alliance with Thought Machine, the cloud-native core banking provider, in April 2024. Under the partnership, Frame Banking™ became Thought Machine's designated payments partner in Latin America. The integration combines Thought Machine's Vault Core banking platform with Frame Banking's payment orchestration, enabling banks to access any payment rail through Thought Machine's APIs while Frame Banking™ provides full control over payment flow orchestration and personalization. Both platforms are members of the Banking Industry Architecture Network (BIAN).
• MambucoreTechnology or IntegrationMambu, a leading cloud-native banking platform, is featured as a product partner of 2innovate, with joint go-to-market activities and customer references. Juan Pablo Jimenez Isaza, Regional VP of Sales Latin America at Mambu, provided a testimonial highlighting that payments made available with 2innovate and Mambu are a key component to successful banking, giving both companies and clients access to a complete and flexible offer of financial solutions aligned with market demands.
• TuumcoreTechnology or IntegrationTuum, a next-generation core banking platform, is a strategic partner of 2innovate. Julien Douve, Global Head of Alliances & Partnerships at Tuum, stated that 2innovate's platform allows Tuum's clients to instantly access an extensive range of pre-integrated regional and international transaction and payment providers, with 2innovate's strong LATAM presence bringing Tuum strategically closer to financial institutions in the region.
• TechreokeyStrategic or Co-development PartnerTechreo, a digital banking fintech, partnered with 2innovate to expand into Mexico using Frame Banking™ technology, complying with all local standards and regulations and facilitating rapid deployment of products and services. Techreo has since expanded to Bolivia, Ecuador, Peru, and Colombia, growing 35% in customers in 2023 with nearly 3 million transactions processed on the platform.
• EYsecondaryImplementation/ SI/ Consulting PartnerEY (Ernst & Young) is listed as a consulting partner in 2innovate's partner ecosystem, providing advisory and implementation services for financial institution clients adopting Frame Banking™.
• GlobantsecondaryImplementation/ SI/ Consulting PartnerGlobant is listed as a consulting partner in 2innovate's partner ecosystem, providing technology consulting and implementation services for Frame Banking™ deployments at financial institutions.
• GFT TechnologiessecondaryImplementation/ SI/ Consulting PartnerGFT Technologies is a strategic implementation partner collaborating with 2innovate on panels and events (including the AWS Mexico 'Disruptive Architectures in Regulated Environments' panel) and providing core banking implementation services for financial institutions in Latin America.
• VASSsecondaryImplementation/ SI/ Consulting PartnerVASS is listed as a consulting partner and collaborated with 2innovate on the Tech Talk Executive event 'Estrategia y Datos: Claves para Optimizar los Ecosistemas de Pago' held at AWS Madrid in June 2025, focusing on data analytics and scalable payment ecosystem architectures.
• FinTech MéxicosecondaryGTM or Marketing PartnerFinTech México is a strategic GTM and marketing partner that collaborated with 2innovate on the 'Disruptive Architectures in Regulated Environments' panel at AWS Mexico offices and other industry events in Mexico.
• AWS (Event Co-host)keyGTM or Marketing PartnerAWS collaborated with 2innovate on the 'Disruptive Architectures in Regulated Environments' panel in Mexico, alongside GFT Technologies, Thought Machine, and FinTech México, exploring how to scale and innovate financial infrastructure across Latin America within regulatory frameworks.
• VASS (Event Partner)secondaryGTM or Marketing PartnerVASS partnered with 2innovate and AWS to host the Tech Talk Executive event 'Estrategia y Datos: Claves para Optimizar los Ecosistemas de Pago' at AWS Madrid in June 2025, exploring real-time analytics, multi-rail payment management, and next-generation transactional architectures.
• BackbasesecondaryTechnology or IntegrationBackbase, a digital banking platform provider, is listed as a product partner in 2innovate's ecosystem, enabling joint go-to-market and integration capabilities for financial institution clients.
• BantotalsecondaryTechnology or IntegrationBantotal, a core banking and digital solutions provider, is listed as a product partner in 2innovate's ecosystem.
• ModyosecondaryTechnology or IntegrationModyo, a digital experience platform for financial services, is listed as a product partner and participated in 2innovate's Innovation Espresso Chile event discussing digital banking trends alongside Cencosud.
• VeritransecondaryTechnology or IntegrationVeritran, an enterprise low-code platform provider, is listed as a product partner in 2innovate's ecosystem.
• WorldlinesecondaryTechnology or IntegrationWorldline, a global payments services provider, is listed as a product partner in 2innovate's ecosystem.
• Datapro incsecondaryTechnology or IntegrationDatapro inc is listed as a product partner in 2innovate's partner ecosystem.
• IuvitysecondaryTechnology or IntegrationIuvity is listed as a product partner in 2innovate's partner ecosystem.

Scale indicators9 records

Recent moves12 records

Expansion highlights6 records

Direct peers

• Thought Machine: Cloud-native core banking platform provider and 2innovate's strategic partner. Both compete in modern core/payments infrastructure for banks and are BIAN members; their alliance gives 2innovate Vault Core integration while Thought Machine could expand its own payments capabilities.
• Mambu: Cloud-native SaaS banking platform serving retail and SME banks globally. Both target modernizing legacy banking stacks with composable architecture; Mambu's partnership with 2innovate addresses payments, but Mambu could internalize that capability over time.
• Tuum: Next-generation core banking platform serving European and LATAM banks. Both compete in the cloud core modernization space with a similar partner-led GTM and BIAN-aligned architecture; Tuum leverages 2innovate for payments in LATAM/Southern Europe.
• Galileo Financial Technologies: Payment processing and account infrastructure platform owned by SoFi. Galileo provides card issuing, payment orchestration, and account infrastructure to fintechs and banks — directly overlapping with Frame Banking's multi-rail payment convergence offering.
• Marqeta: Modern card issuing and payment processing platform powering fintechs and banks globally. Both serve the B2B payment infrastructure layer; Marqeta's scale and public-market valuation represent the type of competitor 2innovate could face as it expands.
• Backbase: Digital banking platform provider serving retail and corporate banks. Both target bank digital transformation; Backbase has a stronger engagement-banking focus while 2innovate specializes in payments, and they co-sell as partners today.
• Bantotal: Latin American core banking and digital solutions provider. Both serve LATAM banks modernizing transactional capabilities; Bantotal competes in adjacent core banking while partnering with 2innovate for payment orchestration.

Broad incumbents

• Worldline: Global payments services provider and 2innovate's listed partner. Worldline operates merchant acquiring, payment processing, and financial services at massive European-led scale — a broad incumbent whose overlap with Frame Banking grows as it pushes into LATAM instant payments.

Emerging players

• Veritran: Enterprise low-code platform provider focused on LATAM financial services. Both target LATAM banks with configurable platforms; Veritran emphasizes low-code development while 2innovate specializes in payment orchestration.
• Treasury Prime: US-based Banking-as-a-Service and payment infrastructure provider. Both offer payment orchestration and embedded finance capabilities to banks and fintechs; Treasury Prime is more US-focused while 2innovate is more LATAM-focused, making them geographically complementary emerging players.

Market position

Strengths5 records

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

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Revenue estimate

Valuation estimate

Number of profiles

Profiles12 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about 2innovate