Business

Third largest Brazilian bank partner with fintech for financial services and advances towards open banking

From now on customers from Banco do Brasil will be able to compare costs and hire financial services through the fintech Bom pra Crédito - BPC

Banco do Brasil facade
Banco do Brasil branch facade. Photo: Shutterstock
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  • The fintech BPC is a marketplace that shows and compare the conditions for personal credit among 36 financial institutions in the country;
  • Soon, other BB’s credit lines will be available, such as BB Salary Credit and payroll-deductible loans.

The third largest Brazilian bank, Banco do Brasil – BB as partnered with a fintech called Bom pra Crédito – BPC (an acronym in Portuguese for something like “Good for Credit’), a marketplace that shows and compares the conditions for personal credit among 36 financial institutions in the country.

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From now on, customers from BB will be able to consult and compare the costs of financial services offered by the bank and other institutions, and hired, directly from BPC app, a personal loan. In practice, the partnership one more BB’s experience with the open banking logic.

According to Exame, since launching its open banking platform in June 2017, BB has advanced in this direction. Last year, it entered into a business management partnership with the Conta Azul and also launched an API with fintech Bxblue, which compares payroll loans to retirees, pensioners and civil servants.

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Soon other BB’s credit lines will be available, such as BB Salary Credit and payroll-deductible loans. For Marcos Coltri, director of loans, financing and real estate credit at BB, the partnership reinforces the bank’s forefront position in a competitive market.