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Brazil: Could Banco Inter’s super app break banking?

Banco Inter’s chief executive João Vitor Menin is a banking revolutionary. His vision of the bank’s future is a super app, supporting both e-commerce and financial services. He is refreshingly fearless about upsetting the established order.


Banco Inter’s chief executive João Vitor Menin has some bad news for legacy bricks-and-mortar banks – and fintechs. And for the few digital-only banks that offer or hope to offer the full range of financial services, his message is the same: your model is unsustainable – all of your models.

Even as his bank is adding half a million clients a month and approaching his target of nine million clients by the end of this year, Menin is convinced of the need to evolve beyond being a ‘mere’ bank.

Speaking to Euromoney from his bank’s new offices in Belo Horizonte, Brazil’s sixth largest city, and in the state of Minas Gerais, Menin explains that Inter (as he now refers to his business, the Banco having been dropped) needs to become a platform that mixes financial and e-commerce services.