Neobank Inter seeks brazilian high-income clients and creates Win, a wealth management area

July 20, 2021
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Inter
Now, Inter is embarking on yet another ambitious plan to capture synergies and keep its customers' money within a single ecosystem.

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Growing the customer base and offering more and more services within a single ecosystem was the formula that big Chinese companies like Alibaba and Tencent found to gain muscle. Thus, adding more services and offering to their customers, they have become almost ubiquitous in the daily lives of Chinese people.

Keeping the due proportions, it is the same strategy that Banco Inter has been adopting in recent times. The customer base grew, reaching 6 million account holders, created a marketplace with a superapp that handled R$ 180 million until June, added a telephone operator, insurance sales and an investment platform.

Now, Inter is embarking on yet another ambitious plan to capture synergies and keep its customers' money within a single ecosystem. In the next few days, the bank will launch Win, Inter Wealth Management, an area aimed at private clients.

"But it is a more democratic private, for those who have more than R$ 1 million", says João Vitor Menin, president of Inter, exclusively to NeoFeed. In large banks, customers with between R$ 3 million and R$ 5 million in cash are considered private.

Win is already born with a portfolio inherited from DLM, a manager that Inter bought at the end of last year. There are R$1.8 billion under administration and more than R$4 billion under management. “We are going to make a stronger movement in this area of ​​investments”, says Menin. The goal is to get customers to invest within the bank's platform.

Currently, the PAI (Inter Open Platform) has 700,000 investors who are account holders of the bank and have R$ 20.5 billion in custody. The goal is to triple that number by the middle of next year. “We want 20% of our base to invest with us and we intend to reach R$ 60 billion in custody by July 2021”, says Menin.

In addition to private clients, the bank will also venture into the market niche that concentrates the clients of a Bradesco Prime and an Itaú Personnalité. For this, it will also create the category of Black customers, who have from R$ 250,000 to invest.

The new Inter brand to serve the private audience will be launched in the coming days

According to the executive, the investment market in Brazil is divided as follows: BRL 1 trillion with private clients, BRL 1 trillion with clients seeking prime and personnalité and BRL 1 trillion with the base of the pyramid. At the base of the pyramid, Inter is already well positioned, now it will try to gain traction where it does not yet have a strong presence.

Getting customers to invest within the ecosystem itself has become a digital banking obsession. Most of them are creating their own platforms.

Neon, for example, announced last week the purchase of brokerage Magliano to start an investment area focused on its clients. “All digital banks are going to go into this area”, says the CEO of an investment platform. “The competition will only increase.”

There is, behind this, a phenomenon that was pulled by XP Inc. of decreasing the concentration in big banks, today at around 80%. And there is, of course, a migration process of clients to more sophisticated investments due to the loss of attraction of fixed income with low interest rates. “We are going to cultivate the habit of investing in our customers,” says Menin.

To do this, the bank created a financial education channel on Twitter, @interinveste, and will also create a kind of investor olympics in September. Two weeks before it happens, clients will have access to live and investment content.

During the week of the Olympics, investors will be encouraged to invest, with greater cash back among other attractions. The top 1,000 who make the best investments will receive a bonus.

This strategy of making offers and moving your platforms has had an effect. On July 7th, anticipating the famous Black Friday, the bank created Inter Day, with promotions for thousands of products sold in its marketplace. “In a single day, we sold R$31 million,” says Menin.

In July alone, sales should add up to R$ 100 million. With this, Inter ends up providing feedback to an entire ecosystem based on four pillars highlighted by BTG analysts, Eduardo Rosman and Thomaz Peredo.

They are: recurrence (4 million unique accesses per day), data (increasingly understand customer behavior), credit (increase the customer limit for purchases) and payment method (Inter also gains from transactions) . “Our goal is to make cross selling grow,” says Menin.

Las opiniones compartidas y expresadas por los analistas son libres e independientes, y de ellas son responsables sus autores. No reflejan ni comprometen el pensamiento u opinión de Latam Fintech Hub, por lo cual no pueden ser interpretadas como recomendaciones emitidas por la platafomra. Esta plataforma es un espacio abierto para promover la diversidad de puntos de vista sobre el ecosistema Fintech.

Growing the customer base and offering more and more services within a single ecosystem was the formula that big Chinese companies like Alibaba and Tencent found to gain muscle. Thus, adding more services and offering to their customers, they have become almost ubiquitous in the daily lives of Chinese people.

Keeping the due proportions, it is the same strategy that Banco Inter has been adopting in recent times. The customer base grew, reaching 6 million account holders, created a marketplace with a superapp that handled R$ 180 million until June, added a telephone operator, insurance sales and an investment platform.

Now, Inter is embarking on yet another ambitious plan to capture synergies and keep its customers' money within a single ecosystem. In the next few days, the bank will launch Win, Inter Wealth Management, an area aimed at private clients.

"But it is a more democratic private, for those who have more than R$ 1 million", says João Vitor Menin, president of Inter, exclusively to NeoFeed. In large banks, customers with between R$ 3 million and R$ 5 million in cash are considered private.

Win is already born with a portfolio inherited from DLM, a manager that Inter bought at the end of last year. There are R$1.8 billion under administration and more than R$4 billion under management. “We are going to make a stronger movement in this area of ​​investments”, says Menin. The goal is to get customers to invest within the bank's platform.

Currently, the PAI (Inter Open Platform) has 700,000 investors who are account holders of the bank and have R$ 20.5 billion in custody. The goal is to triple that number by the middle of next year. “We want 20% of our base to invest with us and we intend to reach R$ 60 billion in custody by July 2021”, says Menin.

In addition to private clients, the bank will also venture into the market niche that concentrates the clients of a Bradesco Prime and an Itaú Personnalité. For this, it will also create the category of Black customers, who have from R$ 250,000 to invest.

The new Inter brand to serve the private audience will be launched in the coming days

According to the executive, the investment market in Brazil is divided as follows: BRL 1 trillion with private clients, BRL 1 trillion with clients seeking prime and personnalité and BRL 1 trillion with the base of the pyramid. At the base of the pyramid, Inter is already well positioned, now it will try to gain traction where it does not yet have a strong presence.

Getting customers to invest within the ecosystem itself has become a digital banking obsession. Most of them are creating their own platforms.

Neon, for example, announced last week the purchase of brokerage Magliano to start an investment area focused on its clients. “All digital banks are going to go into this area”, says the CEO of an investment platform. “The competition will only increase.”

There is, behind this, a phenomenon that was pulled by XP Inc. of decreasing the concentration in big banks, today at around 80%. And there is, of course, a migration process of clients to more sophisticated investments due to the loss of attraction of fixed income with low interest rates. “We are going to cultivate the habit of investing in our customers,” says Menin.

To do this, the bank created a financial education channel on Twitter, @interinveste, and will also create a kind of investor olympics in September. Two weeks before it happens, clients will have access to live and investment content.

During the week of the Olympics, investors will be encouraged to invest, with greater cash back among other attractions. The top 1,000 who make the best investments will receive a bonus.

This strategy of making offers and moving your platforms has had an effect. On July 7th, anticipating the famous Black Friday, the bank created Inter Day, with promotions for thousands of products sold in its marketplace. “In a single day, we sold R$31 million,” says Menin.

In July alone, sales should add up to R$ 100 million. With this, Inter ends up providing feedback to an entire ecosystem based on four pillars highlighted by BTG analysts, Eduardo Rosman and Thomaz Peredo.

They are: recurrence (4 million unique accesses per day), data (increasingly understand customer behavior), credit (increase the customer limit for purchases) and payment method (Inter also gains from transactions) . “Our goal is to make cross selling grow,” says Menin.

Las opiniones compartidas y expresadas por los analistas son libres e independientes, y solamente sus autores son responsables de ellas. No reflejan ni comprometen el pensamiento o la opinión del equipo de Latam Fintech Hub y, por lo tanto, no pueden interpretarse como recomendaciones emitidas por la plataforma. Esta plataforma es un espacio abierto para promover la diversidad de puntos de vista en el ecosistema Fintech.
Apoyado por:
Mastercard
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