Generic selectors
Exact matches only
Search in title
Search in content
escuchar_post
amenidad_post
carrera_liderazgo
recursos
web-story
opinion_post

The future of finance in LatAm & the Caribbean

January 23, 2022

Bradesco buys (another) digital bank

Oct 15, 2021

By Roberta Prescott

Bradesco became the sole owner of digital bank Digio.

Bradesco became the sole owner of digital bank Digio after buying Banco do Brasil’s 49.99% stake in the fintech for about R$625 million (US$112 million). The deal, which is subject to regulatory approval, is in line with Bradesco’s strategy to increase its presence in an increasingly competitive digital market, where it already operates Next bank and Bitz e-wallet. 

Bradesco has been focused on both the creation of its own initiatives, such as Next, as well as the acquisition of other players, such as DinDin, which was integrated into Bitz, and now Digio, where it shared management with Banco do Brasil.

Like what you're reading?

This summary belongs to our newsletter Friday Briefing. Subscribe and receive this information and much more directly to your inbox.

“Bradesco is looking to diversify its operations in the fintech market with multiple initiatives. We should see a move towards greater specialization in the segment from now on, so Digio, Bitz and Next may continue to focus on different audiences, which implies handling different languages, communication and a mix of solutions,” both financial and non-financial, Bruno Diniz, a partner at consultancy Spiralem, told iupana.

For the moment, although they are both digital players, Digio and Next complement each other more than they compete. “Going forward, we may see a greater effort to develop truly different value propositions and identities, building ecosystems of solutions that serve different audiences. We haven’t seen this kind of strategy here from a large bank, but it could be an interesting path if they manage to execute. Otherwise, an eventual merger of the initiatives could be an alternative,” Diniz said.

Are you subscribed to our weekly newsletter?

Leave your details to receive our Monday briefing on the key news in digital banking, fintech and payments in Latin America.

0 Comments

Submit a Comment

Your email address will not be published. Required fields are marked *

Compartir

error: Por favor, respeta nuestro trabajo: La reproducción de nuestros contenidos está estrictamente prohibida.