Financial: You blinked and another year is running out. Isn’t that the feeling we get every December? It is time to take stock of the last twelve months to draw an overview of what will come in 2022. There are countless bets for the financial and technology market, but here I will mention three aspects that we should keep an eye on: banks x fintechs, the boom in Brazilian companies on the American stock exchange and the expectation by the registers of receivables.
Banks and fintechs toe-to-toe
The Central Bank (BC) already recognizes that there are fintechs as big as traditional banks and signals for a regulation of finance startups, an initiative that comes from the demand for more investment by those that are on a par with the classic institutions. The BC’s new rules on capital requirements, not just for banks but for fintechs, are already coming out of the oven.
When we talk about regulation and equalization, the market immediately reflects whether this will bring any kind of brake on the competitiveness of fintechs. That depends on how we see the competition, eager for product innovation and unbureaucratic transactions.
This regulatory equivalence further intensifies the race of traditional banks for digital transformation — the IPO of Nubank, which is getting closer, has already caused a stir among the giants in the search for new customers, which are increasingly more demanding and attuned to a good user experience.
Another point is that the relationship between Brazilians and fintechs has improved. This is what the Central Bank’s Financial Citizenship Report points out, with the increase in the phenomenon we usually call banking: people are entering the system thanks to the digital environment and competitive advantages, such as practicality and lower costs. This participation has become more diversified, including audiences such as young people, seniors and individual micro-entrepreneurs.
Furthermore, the growth of payment institutions (such as fintechs) was faster than that of banks. According to the report, while the number of relationships in the banking system grew 50% in three years, in financial institutions it was almost 180%, jumping from 15 million to 60 million customers — mainly due to movement accounts. Maurício Moura, BC director responsible for the survey, has already declared: we are moving forward. On this side, I’ll double the bet — we’ll go even further in 2022.