Post by account_disabled on Feb 19, 2024 22:37:42 GMT -6
Mexico City — Amid a competition to attract unbanked and younger segments in Mexico, as well as the arrival of Latin American companies that see the country as a great market to grow, Grupo Financiero Banorte enters the digital competition with the commercial launch of Bineo, the digital bank with which it intends to attract between two and three million customers in the next five years . The objective reveals user growth at a lower rate than expected or executed by other competitors in the financial sector.
We would like to Asia Mobile Number List have tens of millions of clients, but before being ambitious we are realistic and what we want is to serve the client in a personalized way,” said Francisco Martha, general director of Digital Business Development at Banorte, in a press conference. The financial group has invested almost US$170 million in this 100% digital initiative, mainly in infrastructure, but also in the initial capital of the business, commented the general director of the financial group, Marcos Ramírez.
Since hitting app stores in early January, Bineo has amassed around 1,300 customers. Profitability in three years Although the user goal will take five years to become a reality, Banorte hopes that the break-even point of its digital banking will arrive sooner, specifically in the next two or three years. The outlook contrasts with that of competitors such as Nu México, which is awaiting a banking license to expand its service offering to clients and whose current strategy prioritizes growth over profitability. Bineo began with the offer of savings accounts and loans, to which products such as credit cards, mortgage loans, among others, will later be added, according to the needs of the clients, the directors said.
We would like to Asia Mobile Number List have tens of millions of clients, but before being ambitious we are realistic and what we want is to serve the client in a personalized way,” said Francisco Martha, general director of Digital Business Development at Banorte, in a press conference. The financial group has invested almost US$170 million in this 100% digital initiative, mainly in infrastructure, but also in the initial capital of the business, commented the general director of the financial group, Marcos Ramírez.
Since hitting app stores in early January, Bineo has amassed around 1,300 customers. Profitability in three years Although the user goal will take five years to become a reality, Banorte hopes that the break-even point of its digital banking will arrive sooner, specifically in the next two or three years. The outlook contrasts with that of competitors such as Nu México, which is awaiting a banking license to expand its service offering to clients and whose current strategy prioritizes growth over profitability. Bineo began with the offer of savings accounts and loans, to which products such as credit cards, mortgage loans, among others, will later be added, according to the needs of the clients, the directors said.