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With investments in technology and a legion of dissatisfaction with the services offered by the big banks, C6 Bank should be the latest financial institution to position itself as an alternative to the clients of a market. always concentrated.
The digital bank was created. Former leaders of BTG Pactual and with an investment of R500 million.
For now, the Central Bank is waiting for authorization to start providing services – at the end of December, members of British Columbia British have completed the phase of operational inspection at BTG Pactual. headquarters in São Paulo.
It will be a complete bank, with all current account, investment, credit, card and exchange services of FP and PJ.
Without agencies and having an inexpensive (but not free) activity, the C6 is also badociated with Mbadachusetts Institute of Technology (MIT) research laboratories to seek innovative solutions to financial problems, including construction.
The Brazilian market has more than 300 Fintechs (innovative companies in the financial sector) providing a variety of services, as well as institutions that do not
The C6 will enter a segment that, besides the big banks, will be competing by Nubank (2.5 million customers), Neon (1.6 million customers), Inter (1.45 million) and Original (620,000).
In the last two years, these institutions have grown in scope because they offer free services – or explain in detail the rates they charge – and solve the problems of consumption in a simple way, usually by through an online discussion. Pascowitch, director of ABFintechs, an industry badociation, says the appeal of these institutions can be summed up in four points: more efficient service, transparency in charging fees, customer appreciation and lower prices.
fintech.He's vision is to put the customer at the center of the product. Banks have always developed their products by focusing on their margins, not on the customer. "
Leaders and academics agree that none of these companies re-invented the wheel of financial services, but by creating companies that thought about how to improve the customer experience, they have transformed the market.
For Prof. Lauro G Onzalez, coordinator of the FGV Center for Microfinance and Financial Inclusion, these new institutions now serve clients who consider themselves poorly served, whether for products not meeting their needs or for poorly executed services
homogenization of products in the big banks which does not take into account the profiles of the customers. "
Maria Gabriela Lopes Boruchosas, 25 years old, started to use the credit card Nubank, the most profitable Brazilian Fintech, in 2016. Previously, she had paid an annuity. to a big bank and reports that he had problems with the bills.
The application did not work properly and an indictment took time to resolve. She definitely migrated when she discovered that at Nubank, she could anticipate the bill payment in the application.
The lawyer subsequently changed jobs and opened another account on which the company pays a salary. Despite the agreement, you pay a fee of R $ 58, which you want to remove by converting the current account into salary with portability for Nuconta.
"The refusal rate of banks is huge, the customer gives us a chance," says Jean Sigrist, chief financial officer of Neon Payments.
Leonardo Pedrosa Martinez, 33, was a banker for three years. how does the sale of banking products work?
"I wanted to get out of the dynamics of the agency, the manager phoning every week and when you want a product, I go back there," he says.
He recognizes, however, that the problems that may still arise from new financial institutions, which do not usually occur in banks. He had blocked $ 40,000 when the Central Bank ordered the extrajudicial liquidation of Banco Neon, the namesake institution that administered the fintech operation.
"I made contact at that time and the answer did not take less than 10 minutes."
The money was repaid in less than two months by the FGC (Credit Guarantee Fund), he adds.
Customers often cite the ease with which they solve problems without having to visit an agency, which banks still ask for.
"Although banks are improving the service, the differentiation of users is limited by the number of customers". Gonzalez said.
The banking reaction has however already started and comes from closed partners with fintechs, investment in technologies and even the creation of a new bank totally from scratch, as did Bradesco at the launch from Next in October.
For Pascowitch, the counterattack is natural, but the competitive position does not make much sense.
"No Fintech has broken any bank," says competition in more developed markets, such as the United States and Europe.
Professor Lauro Gonzalez has a more cautious view. "Nobody knows what the role of banks will look like in ten years." From the shareholders' point of view, I do not worry, but from a business model point of view, things can be very different. "
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