Challenger banks: Brazil’s new destroyer

The country’s banks have become accustomed to the disruption caused by the new challengers, but XP Bank could take this to a whole new level.

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Imagine that a new purely digital bank account is created by a country’s leading fintech.

Imagine that the brand behind the bank is already strong, well-known and positively viewed. And that the fintech already has 2.8 million customers with investment accounts, with a total of R$660 billion ($114.5 billion) in assets under custody.

Imagine, too, that this new digital bank is being launched at a time that will enable it to take advantage of the efficiencies created by the central bank’s new-technology agenda.

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