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.
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