The Central Bank of Brazil's open banking regulations can stimulate competition for neobanks while promoting greater financial inclusion
open banking to easily build onto their platforms to offer value-added services from other providers, which can be cost-effective for them and valuable to customers.
These regulations can ultimately fuel competition and make Brazil a more attractive market for neobanks to expand into. With 24 million users, Nubank is the sixth-largest FI in Brazil. It's also the neobank in the world, with a valuation of $10 billion, making it the best example of a neobank posing a legitimate threat to incumbents.
While it's likely to maintain this lead for the foreseeable future, Brazil's rollout of open banking could invite competition from established neobanks from other markets — like Germany's — which have already had their eye on expanding into the market. And given the significant portion of currently underbanked consumers in Brazil , there's likely enough room for those neobanks to build their customer bases, despite the size of Nubank.
Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
Inside California's beautifully bizarre Winchester Mystery House - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Weiterlesen »
Sweden resisted a lockdown, but its banks are vulnerable to credit losses, central bank warnsDespite resisting a lockdown on its citizens and businesses amid the coronavirus pandemic, Sweden's banks remain vulnerable to credit losses, the country's central bank warned on Wednesday.
Weiterlesen »
Starling has hit some speed bumps with its business banking proposition - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Weiterlesen »
South Korea's central bank needs to cut policy rate to near zero: government think-tankA South Korean state-run think-tank said on Wednesday the central bank should cut benchmark interest rates to near zero to support an economy hit by the coronavirus pandemic.
Weiterlesen »
Turkish central bank triples Qatar currency support deal to $15 billion as economy floundersThe move secures much-needed funding as the country of 82 million burns through its reserves and faces a widening fiscal deficit.
Weiterlesen »
Hungary central bank to leave rates steady after QE slashes long yields: Reuters pollThe National Bank of Hungary (NBH) will leave key interest rates unchanged next Tuesday, economists said in a Reuters poll, after government bond purchases launched this month sent longer yields plunging.
Weiterlesen »