XP Inc. was elected the most innovative company in the country in the “Financial Services” category in the 8th edition of the Valor Inovação Brasil 2022 Award.
This is the third year that the company has participated in the survey. In its debut, in 2020, it ranked 5th in Financial Services and, in 2021, it moved to second place in the same category.
“Innovation permeates all of XP”, says Thiago Maffra, CEO of XP Inc, mentioning that all projects and efforts in the organization are aimed at a common objective: to deliver simple products, with cheaper pricing. “So that we can help Brazilian consumers to have a better financial life”, he says.
According to Maffra, innovation is also present in the way the company works. “We are organized into more than 150 ‘squads’ with professionals from technology, design, operations, marketing, among others. All with a focus on what is best for customers and with freedom to create products, change processes, continuous improvement, with a view to a better experience that generates positive impacts for the corporation,” she says.
Examples of this, according to the executive, are the launch of the XP card, the digital account, the international investment account, XTAGE and the automated wallet that took place in the last year.
How the award works
The research that gives rise to the award is carried out by Strategy&, PwC’s strategic consultancy, and Valor Econômico newspaper.
The ranking, which classifies 150 companies, evaluates companies with at least 5% of private participation in their capital and net income in Brazil above R$ 500 million in one of the last two fiscal years.
The evaluation methodology of the “Valor Inovação Brasil” ranking considers five pillars of the participating companies: intention to innovate, effort to carry out innovation, results obtained, market assessment and generation of knowledge.
The 2022 awards were held 100% online with the theme “5G and the revolution in business models” and presented, in addition to the most innovative companies by sector, the ranking of the 150 companies with the best innovation practices in the country.