Fintechs? These are the banks that have a favorable market now, points out BTG – Money Times

central bank
A series of measures by the Central Bank may benefit traditional banks at this time, analysts point out (Image: Agência Brasil)

O IPO of Nubank, who wants to get to the market worth a Itaú (ITUB4) it is a Bradesco (BBDC4), and the recent investment of JPMorgan at the C6 Bank indicate that the fintechs they have a promising future and that banks are a thing of the past. But not for the BTG Pactual.

According to analysts Eduardo Rosman, Ricardo Buchpiguel and Thiago Paura, in a quick comment sent to clients and obtained by Money Times, a series of measurements of the central bank can benefit traditional banks at this time.

“Recently, the issue of regulatory asymmetric has gained a lot of attention, which, together with the increase in the Selic rate and with fintechs facing credit problems, make us believe that we are in a moment of more favorable market for traditional banks”, they affirm.

The President of the Central Bank Roberto Campos Neto I have already said that banks have expressed concern about regulatory asymmetries in relation to fintechs.

According to Campos, there would be three main complaints from financial institutions, with capital requirements being one of them, with the president acknowledging that “it is a problem that needs to be equalized”, noting that some payment institutions “have become quite large” recently.

The second issue raised is that digital banks would not be so strict in opening accounts, and Campos commented that the BCB is analyzing the issue.

And the last complaint concerns tariffs, but, according to Campos, the BCB “does not see asymmetries” in this case.

“The BCB has already suggested that it would issue new rules for fintechs by increasing not only capital requirements, but addressing other things. An article from early August even mentioned an increase from 2% to 4.5% in the required capital of IPs based on the volume of assets and number of transactions”, the analysts recall.

In Brazil, the scenario was even more promising: the country reached the mark of the largest fintech ecosystem in Latin America (Image: Unsplash/Mario Gogh)

Rise of fintechs

The adhesion of Brazilians to brands has grown considerably in recent years, especially for new digital banks, such as Nubank, Original Bank and Next.

And the alliance between large companies and technology and finance startups has also increased, especially for the city of São Paulo.

Data from the 2021 Global Fintech Rankings report, made by Findexable in partnership with Mambu, a German company that offers cloud banking solutions, shows that the increase came mainly during the pandemic around the world.

“Fintechs are agile decision-making companies that meet the very varied needs of clients in the financial sector and are revolutionizing these services, which are becoming increasingly easier, faster and simpler”, highlights Sergio Constantini, general director of Mambu no Brazil, in a press release.

In Brazil, the scenario was even more promising: the country reached the mark of the largest fintech ecosystem in Latin America. In the global ranking, Brazil occupies the 14th position – five positions ahead of that registered in 2019.

Among the top five are the United States, United Kingdom, Israel, Singapore and Switzerland, respectively.

It is worth noting that the amount invested in fintechs rose from US$ 199 billion to US$ 440 billion, which also favors them bringing innovations to other sectors, such as gas for commerce, for example, in the coming years.

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