The revolution, the British NeoBanco with 40 million users in the world, seeks to work in the country and promises to convert the financial system with less cost and greater inclusions.
Arrival of digital banking in Peru
The Peruvian Financial System may enter the new era with the arrival of the first 100% digital bank. The Revolution, the British NeoBanco, founded in 2015 and is estimated at $ 45 billion, has applied for a license for bank, insurance and AFP (SBS). To get permission, this will note the milestone to modernize the local financial market.
What is a revolution and what does it offer?
The revolution works completely digital through a mobile application, which reduces costs compared to the traditional banking business. Among his services:
Opening accounts without maintenance.
International translations without hidden commissions.
Saving sub -financial savings and real expense management tools.
Physical and virtual cards for contactless payments.
Access to cryptocurrencies, actions and precious metals.
NEOBANCO has free plans and premium vetors that include additional benefits such as travel insurance and priority assistance. Currently, it has the presence in more than 35 countries, including Mexico, Brazil and Colombia.
Competition and upgrading the financial system
SBS should evaluate the normative, technological and safe aspects before giving the green light to Peru. If stated, this income will press the traditional bank to upgrade its platforms, reduce costs and simplify the processes.
In a country where more than 40% of the population has not yet accessed the official financial system, the Revolution digital offer is aimed at expanding and energy energy, as well as promoting e -commerce and using digital wallets.
Regional opportunity
With the arrival of Peru, he joined the regional wave of digital banking, which has already transformed the markets of Mexico, Brazil and Colombia. For analysts, the impact will be double: to improve the user experience and strengthen the Fintech ecosystem, which rethinks the habits in consumption.
The final SBS decision will mark the beginning of a new stage for the Peruvian Banking System, where competition will no longer be between traditional banks, as well as with global digital subjects.
