Bineo, the 100 percent digital bank of Grupo Financiero Banorte, began the year offering two products
The year began and with it, Bineo, the 100 percent digital bank of Grupo Financiero Banorte, presided by Carlos Hank.
As the new year got underway, Bineo, the fully digital bank of Grupo Financiero Banorte, led by Carlos Hank, launched two products for «neobanks,» «fintechs,» and «finapps«: a savings account and a personal credit card that are both connected to an app.
On December 13, the CNBV, chaired by Jesús de la Fuente, approved the commercial operation of Bineo, a digital bank headed by Víctor Moya, with approval from Banxico. This came around two years after Bineo asked for a license and more than a year after it was given permission to integrate the bank.
Ramírez stated that they planned to introduce the nation’s first fully digital bank by the end of the month. However, since January 5, the Bineo app has been available in the Google and Apple app stores, with over 500 downloads without any advertising. This indicates that the app is in the last stages of commercial testing that the authorities require before a launch. It will function fully on the cloud.
Considering that the Grupo Financiero Banorte will be presenting financial results for the 4T of 2023 on January 17, this might be a unique opportunity to introduce the business model of their digital subsidiary and explain how they plan to make it a complementary offering.
