Check out the news of the new bank that will be launched by São Paulo FC in partnership with the financial market company Logbank.
Estimated reading time: 3 minutes
SPFC Bank will finally be launched and the idea is that the bank will get off the ground in October this year. The revelation was made by a person from Tricolor’s marketing department. Thus, according to the process visible on the website of Inpi (National Institute of Intellectual Property), in December 2021, the team filed the SPFC Bank brand in the category of “banking and financial services”.
Thus, a team of professionals is already working to format SPFC Bank, in a testing period. However, if everything goes as planned, within 60 days the product will be available on the market.
First, it should be noted that creating a digital bank is already an old idea of the club. That’s because in December 2021, Tricolor registered the SPFC brand with the National Institute of Industrial Property in the banking and financial services category. The agreement between the companies was approved by the Deliberative Council of the club, at a meeting on December 17, 2021.
Thus, the club’s partnership is with Logbank, a well-known company in the field of electronic payments. Therefore, Tricolor and LogBank will share all the generated revenues.
It is worth noting that São Paulo already had a long partnership similar to Banco Inter and had a few thousand tricolor account holders. But this time, the revenue expectation with its own digital bank is much higher than with the former sponsor.
In addition to São Paulo, other teams also plan to take this big step. That is, Palmeiras should also announce a digital bank soon, which will be called Banco Palmeiras.
Why a digital bank?
According to Eduardo Toni, executive marketing director of São Paulo FC, all the money that the digital bank raises will be used in São Paulo football. The director also stated that the club has a minimum target of customers to reach, but did not reveal numbers.
In addition, the director stated that the platform will be similar to market competitors, that is, with traditional bank services, such as credit and debit cards, loans and other exclusive services for Tricolor fans.
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