O Agibank has ambitious plans to expand its participation in Brazilian consignment in the coming years. During an interview with the program É Negócio, the executive president of the board of Agibank, Marciano Testarevealed that the digital bank intends to reach more than 10% share in this segment by 2030, which would represent a portfolio of more than 100 billion reais.
According to Marciano, the payroll credit ecosystem in Brazil currently generates around 750 billion reais, making it the largest market for products for individuals in the Brazilian financial system. “It is the most accessible and cheapest product for the population”, he highlighted. The executive explained that, due to the solidity of the guarantees offered, banks are able to make this product available at more affordable rates, making it very popular among Brazilians.
Market growth and bank strategies
The payroll loan market grows on average 7.5% to 8% per year. Following this projection, by 2030 the sector should present an accumulated growth of 36%, surpassing the one trillion reais mark. It is in this scenario that the Agibank sees an opportunity for your participation.
To achieve these objectives, the bank implements a strategy that includes three fundamental pillars. The first is to continue expanding your customer base. The second involves massive investments in technology, with the strategic decision to become an artificial intelligence-driven company within 24 months.
“We have a competitive advantage by not having legacy systems, so integrating AI is, in some ways, easier for our technology architecture model,” said Testa.
The third pillar of the strategy is physical expansion, with plans to surpass 2,000 smart hubs in the next five years. Furthermore, the bank does not rule out the possibility of making acquisitions to diversify its product portfolio or seek synergies with other companies in the financial sector.
It’s Business
The program It’s Business is a partner of NeoFeed with the CNN BrazilCarlos Sambrana interviews the executives and leaders of the largest companies in Brazil. Follow the new episodes, every Sunday, at 8:45 pm on CNN Brasil, with reruns on Wednesdays, at 7:15 pm on CNN Money.
