Soteica

What Soteica does

Soteica is a Honduran-headquartered software company founded in 2006 that develops and licenses core banking and digital banking platforms for financial institutions across Latin America. Its product suite comprises two integrated solutions: SIAFID Core, a core banking platform that handles financial operations including vault and cash management, customer records, savings and deposits, credits, and guarantees; and SIAFID Banca Digital, a digital banking solution offering mobile and web banking, payments and transfers, and a correspondent agent network that extends services into underserved areas. The platform is built on 40+ functional modules, serves 400,000+ end users across client institutions, and processes millions of transactions monthly.

The company targets three primary customer segments: cooperatives (credit unions and savings cooperatives), financieras (non-bank financial institutions), and banks (regional and commercial banks). Monetization is via recurring subscription licensing for both SIAFID Core and SIAFID Banca Digital, supplemented by implementation and ongoing support services billed annually under quote-based enterprise pricing. Soteica operates a direct enterprise field-sales motion, with demo requests handled by specialists within 24 hours. The company maintains offices in Tegucigalpa (headquarters), Mexico City (regional headquarters), and Hollywood, Florida, supporting commercial coverage across nine countries: Honduras, Mexico, the United States, El Salvador, Guatemala, Nicaragua, Costa Rica, and Panama. The company is privately held, with no disclosed investors, parent entity, or revenue figures.

Name

Soteica

Legal name

Soteica

Website

https://soteica.io

Company type

Private

Founded year

2006

Operating status

Operating

Headcount range

11–50 employees

Short description

Soteica provides core banking (SIAFID Core) and digital banking plus correspondent agent (SIAFID Banca Digital) software platforms to cooperatives, financieras, and banks across nine Latin American countries, monetizing via annual subscription licensing and implementation services.

Ownership category

akta.pro rank

Product category

Core Banking Software

NAICS

Computer Systems Design and Related Services (54151), Computing Infrastructure Providers, Data Processing, Web Hosting, and Related Services (5182)

SIC

Services-Prepackaged Software (7372), Services-Computer Programming Services (7371)

akta.pro primary industry

Neobank Core Platform (Retail/SME Digital Bank) (FSAGAAAA)

akta.pro secondary industry

BaaS Platforms & Sponsor Bank Enablement (FSAGALAA)

Keywords

• Core banking software
• Digital banking platform
• Cooperative banking technology
• Financial software solutions
• Correspondent agent network

Headquarters

HQ city

Tegucigalpa

HQ country

Honduras

HQ region

Latin America

Offices3 records

Markets served

GTM type

B2B

Offering type

Software

Cost components

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

Revenue model

1. SIAFID Core Licensing: Core banking software licensing to financial institutions including cooperatives, financieras, and banks.
2. SIAFID Banca Digital Subscription: Digital banking platform subscription for mobile, web, and correspondent agent channels.
3. Implementation and Support Services: Expert implementation services and ongoing technical support for SIAFID products.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels1 record

Core offering

Soteica develops and licenses SIAFID Core and SIAFID Banca Digital, two integrated software platforms that allow cooperatives, financieras, and banks to run their core banking operations (cash/vault management, customer management, savings, deposits, credits, and guarantees) and to deliver digital banking services (mobile and web banking, payments, transfers, and a correspondent agent network) on a single platform sold on a recurring subscription basis with implementation and support services.

Product overview

Soteica offers a platform-plus-products architecture consisting of two integrated solutions: SIAFID Core (core banking platform) and SIAFID Banca Digital (digital banking and correspondent agent solution). Together, they integrate financial operations, digital channels, and transactional networks into a single unified platform. SIAFID Core handles the backend banking operations including vault/cash management, customer management, savings/deposits, and loans/guarantees, while SIAFID Banca Digital provides the front-end digital experience with mobile/web banking, payments, transfers, and correspondent agent network support.

Differentiator

Problem solved

Functional benefit

Brands

• SIAFID Core: Core Bancario - Platform for managing all financial operations with security and efficiency, including vault and cash, customers and management, savings and deposits, credits and guarantees.
• SIAFID Banca Digital

Products and services

• SIAFID Core Core banking software platform for financial institutions (cooperatives, financieras, banks) that manages vault/cash operations, customer management, savings and deposits, and credits and guarantees with security and efficiency.
• SIAFID Banca Digital Digital banking software for financial institutions providing mobile and web banking, payments and transfers, a correspondent agent network, and a 100% digital experience to extend services to end users.

Quantifiable outcome

• 400,000+ users served across client institutions
• +1 more outcomes

Named customers20 records

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Scale indicators5 records

Recent moves5 records

Expansion highlights5 records

Direct peers

• Thought Machine: Cloud-native core banking technology vendor whose Vault platform powers retail and SME banking for challenger and incumbent banks. Direct competitor to Soteica in delivering next-generation core and digital banking systems to financial institutions.
• Backbase: Digital banking platform provider offering engagement and digital channel software for banks and credit unions. Comparable to Soteica's SIAFID Banca Digital layer, targeting similar financial institution customers.
• 10x Banking: Cloud-native core banking platform targeting challenger and incumbent banks. Comparable in offering a modern, API-first alternative to traditional core systems like those provided by Soteica.
• Mambu: Cloud-native core banking platform serving banks, lenders, and fintechs globally. Comparable to Soteica as both provide composable core banking infrastructure that financial institutions deploy to run accounts, deposits, and lending operations.
• Bankingly: Digital banking platform provider with strong presence in Latin America and emerging markets, serving cooperatives, microfinance institutions, and banks. Highly comparable to Soteica in customer segment, geography, and product offering.

Broad incumbents

• Finastra: Large financial software vendor formed from the merger of Misys and D+H, offering core banking, lending, and digital channel solutions. Represents another broad incumbent competing for Latin American banking modernization contracts.
• FIS: Large financial technology provider with core banking and digital banking solutions (including FIS Profile) serving banks worldwide. Represents the kind of scaled incumbent that competes against Soteica for enterprise banking contracts.
• Temenos: Global incumbent in core banking software serving thousands of banks across all tiers, including extensive Latin American deployments. Competes head-to-head with Soteica for core banking modernization RFPs from regional banks.
• Oracle Financial Services: Major provider of core banking and digital experience platforms to large banks globally. Competes with Soteica in the core banking software category, particularly for Tier 1 and Tier 2 bank RFPs.

Emerging players

• Apache Fineract: Open-source microfinance and core banking platform widely deployed by emerging market financial institutions and MFIs. Represents the open-source alternative path that some Soteica customers could consider for core banking modernization.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks5 records

Key highlights7 records

Customer concentration

• Xx.com/Soteica_hn
• Facebookfacebook.com/SoteicaHN
• LinkedInlinkedin.com/company/soteicahn

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 Soteica