Brazil's Itau lures 10 million clients to its digital bank
Information about Brazil's Itau lures 10 million clients to its digital bank
Kevin David Scam or Legit
By Aluisio Alves
SAO PAULO (Reuters) – Brazil’s biggest lender Itau Unibanco Holding SA has lured 10 million consumers to its digital bank iti, tripling its client base since January, a bank executive said in an interview on Wednesday.
Itau’s push to gain clients comes as fintechs such as Berkshire Hathaway Inc-backed Nubank and General Atlantic’s Neon have been adding millions of clients from traditional banks, as well as the unbanked population.
iti’s director Joao Araujo said it has targeted clients in regions where Itau has fewer customers, such as states in Brazil’s North and Northeast.
“We’re perfectly in the game,” said Araujo, citing competition with newcomers.
The digital bank, which had some 3 million customers at …