WOG

What WOG does

WOG is a Colombian-founded digital platform company that delivers core banking and insurance software to financial institutions across Latin America. Founded around 1998 and headquartered in Bogotá with a regional office in San José, Costa Rica, WOG has operated continuously for over 25 years serving banks, fintechs, cooperatives, retailers, insurance carriers, compensation funds (cajas de compensación), and employee funds (fondos de empleados). The company sells a modular platform that spans credit origination (Fábrica de Crédito with AML, KYC, scoring, and electronic signature), loan lifecycle administration (consumer, commercial, mortgage, microcredit), savings and deposit products (Cuenta de Ahorros, CDT, Ahorro Programado), revolving credit (Cupo Rotativo), digital channels (Canales Digitales, Billetera Digital), comprehensive card issuance and management (debit and credit), and a full insurance suite (WOG Seguros core plus iBroker Bancaseguros and iBroker Agencia/Corredor distribution platforms). The platform is built on cloud infrastructure from strategic partners AWS and Google, with implementation and ecosystem support from partners including UST, GBM, SIGH, and Coopcentral.

The platform reports client-scale metrics of 500M+ deposits administered, 550M+ credits administered, 350M+ revolving credit lines, 15M+ transactions processed, 500M+ cards supplied, and 8M+ insurance policies administered, evidencing substantial underlying transaction volumes managed on behalf of clients. WOG goes to market through a direct enterprise field sales motion targeting regulated and semi-regulated institutions that require digital transformation with bundled regulatory compliance advisory (asesoría normativa). Pricing is not publicly disclosed and is described as quote-based and customized per client and module selection, consistent with enterprise B2B SaaS licensing.

The revenue model is platform/SaaS licensing with recurring subscription characteristics, though no company-level revenue, ARR, funding history, or ownership structure is publicly disclosed. The company is privately held, has 11-50 employees per firmographic data, and shows no disclosed institutional investors, M&A activity, or leadership changes. Visible customers are concentrated in Colombian cooperatives, compensation funds, and smaller regional financial institutions, with a single named fintech client (Powwi), suggesting a long-tail enterprise customer base rather than tier-1 bank dominance.

Name

WOG

Legal name

WOG

Website

https://wog.co

Company type

Private

Founded year

1998

Operating status

Operating

Headcount range

11–50 employees

Short description

WOG is a Colombian-founded B2B platform provider delivering modular core banking and insurance software to banks, fintechs, cooperatives, retailers, and insurance carriers across Latin America, operating for over 25 years with offices in Colombia and Costa Rica.

Ownership category

akta.pro rank

Product category

Core Banking and Insurance Software Platforms

NAICS

Computing Infrastructure Providers, Data Processing, Web Hosting, and Related Services (5182), Finance and Insurance (52)

akta.pro industry

PRIMARYFSAGAJAM

SME Credit Risk, Underwriting & Financial Data (B2B Fintech Data/Decisioning)

Financial & Insurance/Financial Technology (Fintech)/B2B Fintech (SME Finance, Invoicing, Expense & Spend Management)

SECONDARYFSAGAAAI

SME Banking Suite (Business Accounts, Invoicing, Payroll Integrations)

Financial & Insurance/Financial Technology (Fintech)/Digital Banking & Neobanking Platforms

SECONDARYFSAGAJAG

Treasury, Cash Management & Liquidity (SME)

Financial & Insurance/Financial Technology (Fintech)/B2B Fintech (SME Finance, Invoicing, Expense & Spend Management)

Keywords

• Core banking software
• Insurance core systems
• Credit origination platform
• Bancassurance broker software
• Digital banking channels

Headquarters

HQ city

Bogotá

HQ country

Colombia

HQ region

Latin America

Offices2 records

Markets served

GTM type

B2B

Offering type

Software

Cost components

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

Revenue model

1. Platform/SaaS Licensing: WOG provides its digital banking and insurance platform infrastructure to financial institutions, insurance companies, fintechs, and other ecosystem players. The revenue model appears to be platform licensing with ongoing support and infrastructure services, given the B2B enterprise nature and 25+ years of operation in Latin America.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels1 record

Core offering

WOG provides B2B digital platforms for the financial and insurance ecosystem in Latin America. Its core offering includes comprehensive fintech solutions (core banking, credit origination, savings, cards, digital wallets, digital channels) and insurtech solutions (insurance policy administration for life and P&C, claims, underwriting, and broker platforms via iBroker). These are sold as configurable software products to banks, insurance companies, fintechs, cooperatives, and retailers.

Product overview

WOG is a digital platform providing comprehensive fintech and insurtech solutions for the Latin American financial and insurance ecosystem. The platform consists of a modular architecture organized around core banking products (Fábrica de Crédito, Administración de Créditos, Cuenta de Ahorros, CDT, Ahorro Programado, Cupo Rotativo), digital channels (Canales Digitales, Billetera Digital), card management (Tarjetas), and insurance solutions (WOG Seguros, iBroker Bancaseguros, iBroker Agencia/Corredor). The platform processes over 500 million in deposits, 550 million in credits, 15 million transactions, and 8 million policies, serving banks, fintechs, cooperatives, retailers, insurance companies, and employee funds across Colombia and Costa Rica.

Differentiator

Problem solved

Functional benefit

Brands

• WOG Seguros: Core de Seguros directed to insurance companies for administration of individual, collective and grouped life and all-risk policies.
• iBroker Bancaseguros
• iBroker Agencia / Corredor

Products and services

• WOG Banking (Core Banking Platform) Comprehensive core banking software platform for financial institutions, fintechs, cooperatives, and retailers in Latin America, including credit origination, savings, deposits, cards, digital wallets, and digital channels.

Quantifiable outcome

• 15M+ transactions processed on the platform
• +4 more outcomes

Named customers17 records

Segments9 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature10 records

Partnerships

Six partnerships are on record, tiered core.

• AWS (Amazon Web Services)coreTechnology or IntegrationCloud infrastructure partner providing the underlying cloud platform capabilities for WOG's digital banking and insurance solutions. AWS logo appears in the Aliados (Allies) section indicating a strategic technology partnership.
• GooglecoreTechnology or IntegrationTechnology partner with logo displayed in the Aliados section. Indicates cloud or technology integration partnership supporting WOG's platform capabilities.
• GBMcoreStrategic or Co-development PartnerGBM (Gestión Bursátil) logo appears in the Aliados section. As a financial services/brokerage firm, this partnership likely involves strategic collaboration in the financial ecosystem.
• USTcoreTechnology or IntegrationUST (formerly known as UST Global) is a digital transformation services company. Partnership involves technology integration and digital transformation consulting services supporting WOG's platform implementations.
• SIGHcoreStrategic or Co-development PartnerSIGH logo appears in the Aliados section. Likely a strategic partner in the financial/insurance ecosystem, possibly related to insurance or healthcare systems.
• CoopcentralcoreStrategic or Co-development PartnerCoopcentral is a Colombian cooperative financial entity. The partnership in the Aliados section indicates strategic collaboration within the cooperative ecosystem, possibly involving joint product development or market expansion.

Scale indicators8 records

Recent moves5 records

Expansion highlights5 records

Broad incumbents

• Backbase: Backbase provides a digital banking platform and engagement layer for banks and credit unions globally, including channel and digital wallet solutions. It is comparable to WOG in the digital channels and digital wallet module categories, though Backbase primarily serves the front-end digital experience rather than core banking.
• Finastra: Finastra is a global financial services software provider offering core banking, lending, treasury, and capital markets solutions. It is comparable to WOG as a broad provider of financial institution infrastructure, though Finastra serves a global Tier 1/2 bank base and is significantly larger.
• Mambu: Mambu is a global cloud-native core banking platform serving banks, fintechs, and lenders across 65+ countries. It is comparable to WOG as a direct provider of lending, savings, and account management infrastructure, though Mambu focuses on cloud-native SaaS and serves global Tier 1/2 institutions rather than LatAm-specific regulatory niches.
• Temenos: Temenos is a global banking software provider offering core banking, digital, and compliance solutions to over 3,000 banks worldwide. It is a broad incumbent competing in similar product categories to WOG (core banking, lending, channels), with deeper geographic reach but a heavier, more legacy product footprint.
• Thought Machine: Thought Machine provides cloud-native core banking technology (Vault) to global Tier 1 banks. While WOG targets LatAm financial institutions and broader ecosystem players, both compete in the same core banking infrastructure category, though Thought Machine competes primarily at the upper end of the market and globally.
• Technisys: Technisys (now part of Banco Santander) provides a cloud-native digital and core banking platform for retail and commercial banks in the Americas. It is comparable to WOG in offering digital banking and lending infrastructure, though Technisys is now embedded within a Tier 1 global bank and serves a higher-end market.
• Oracle Financial Services Software: Oracle Financial Services offers core banking, lending, and regulatory compliance solutions to global banks. It competes with WOG in the core banking and decisioning category, particularly for larger regional banks, though with a heavier and more enterprise-focused product suite.
• FIS (Fidelity National Information Services): FIS is a global financial technology provider offering core banking, card processing, lending, and digital solutions to banks and merchants. As a broad incumbent, FIS competes with WOG in core banking, card management, and payment infrastructure for financial institutions, though at a much larger and more global scale.

Direct peers

• Bantotal: Bantotal is a core banking software provider headquartered in Uruguay with deep penetration across Latin American banks, cooperatives, and fintechs. As a direct regional peer, Bantotal competes for the same client base (LatAm financial institutions) with comparable core banking, lending, and digital channel capabilities.
• Sollertia: Sollertia is a fintech solutions provider focused on Latin American financial institutions, offering digital banking, lending, and card management platforms. It is a direct regional peer to WOG serving similar customer segments (banks, cooperatives, fintechs) with comparable core banking and digital transformation offerings.

Market position

Strengths5 records

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

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 WOG