Open banking creates new B2B opportunities in Brazil
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Open banking creates new B2B opportunities in Brazil

Domestic companies launch banking-as-a-service models as the country's central bank creates space for new entrants.

Photo: iStock

Brazil’s open-banking architecture has prompted a rapid expansion of financial companies with new B2B business models – both for domestic and international entrants.

The country’s central bank, the BCB, is arguably leading the world in terms of creating an ‘open banking’ foundation for its financial industry. Its digital payments offering, PIX, has seen rapid adoption among the population with more than 100 million PIX transactions made every month in Brazil, which has a working-age population of about 180 million.

The next stages are the digitalization of the currency, the Real, as well as regulations that allow financial companies to aggregate multiple accounts into a single reporting item.


Celcoin, founded and led by chief executive Marcelo França, initially launched to take advantage of open banking through a business-to-consumer payment wallet. But, he tells Euromoney, he quickly saw more potential in developing digital financial services infrastructure for companies.

Marcelo França, Celcoin

“We realized very quickly that the B2C is model much more capital intensive than the B2B and, at the same time, other digital banks and fintechs and companies were launching financial initiatives, and they all need the platforms that we had built,” he said.

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