It's a redefinition of the role that banks have at the end of the day
Posted: Thu Feb 20, 2025 6:41 am
There's not just one agent that will take care of banking; we have several that can even have a better perception of the population. For example, when you put Open Banking into play , an initiative by Via Varejo, to make banking easier and make it happen digitally, customers in this audience love Casas Bahia much more than Caixa Econômica, which is also there to meet some basic financial needs.
Apart from the fact that we have Caixa to finalize several social programs, we can have a very competitive player that can make a difference in the lives of these citizens. So we start to see customization, which the bank cannot offer so well, in the specialization of several players from outside the financial market, including those focused on specific segments. I have seen digital banks focused on the logistics segment, for example.
So, from the moment these players provide answers to the sector, with in-depth understanding, it will no longer make sense for a logistics company to be tied to a large bank. In other words, the bank will have to namibia mobile database learn to play the cooperation game and be able to adapt to this moment, knowing that the market share will be reduced. We will have new competitors that will make customers benefit much more and be able to consume products and services at their own pace and with a much greater understanding than the bank was able to do.
From a regulatory perspective, do you recall any situation that was caused by a specific regulation, so that the sector had to act together and mobilize to stop or direct a situation? Is there any example from the financial sector that catches your attention?
Since the processes have been very well conducted, I haven't seen that. But when we talk about notable things, we had the issue of IPs (Payment Institutions), which was something recent and it was cool. But I don't feel that it was a movement against it or that there was a strong rejection. I think it is being handled very well and the regulator has a very good open-door policy. It's much more about pushing than pulling the brakes, so I don't remember any occasion like that, no.
What are the main bills and regulations that fintechs need to look at and follow?
I think the entire financial market needs to look at the PIX initiative, which is out there and is a very important toolbox for everyone in the sector. I'm not talking about regulation, but about infrastructure. Everyone needs to be very aware of how Open Banking will work, because it will have a direct impact on how offers are made and compliance with the General Data Protection Law (LGPD) .
Apart from the fact that we have Caixa to finalize several social programs, we can have a very competitive player that can make a difference in the lives of these citizens. So we start to see customization, which the bank cannot offer so well, in the specialization of several players from outside the financial market, including those focused on specific segments. I have seen digital banks focused on the logistics segment, for example.
So, from the moment these players provide answers to the sector, with in-depth understanding, it will no longer make sense for a logistics company to be tied to a large bank. In other words, the bank will have to namibia mobile database learn to play the cooperation game and be able to adapt to this moment, knowing that the market share will be reduced. We will have new competitors that will make customers benefit much more and be able to consume products and services at their own pace and with a much greater understanding than the bank was able to do.
From a regulatory perspective, do you recall any situation that was caused by a specific regulation, so that the sector had to act together and mobilize to stop or direct a situation? Is there any example from the financial sector that catches your attention?
Since the processes have been very well conducted, I haven't seen that. But when we talk about notable things, we had the issue of IPs (Payment Institutions), which was something recent and it was cool. But I don't feel that it was a movement against it or that there was a strong rejection. I think it is being handled very well and the regulator has a very good open-door policy. It's much more about pushing than pulling the brakes, so I don't remember any occasion like that, no.
What are the main bills and regulations that fintechs need to look at and follow?
I think the entire financial market needs to look at the PIX initiative, which is out there and is a very important toolbox for everyone in the sector. I'm not talking about regulation, but about infrastructure. Everyone needs to be very aware of how Open Banking will work, because it will have a direct impact on how offers are made and compliance with the General Data Protection Law (LGPD) .