The bank's strategy did not work out properly in 2015 and that is why the three largest private sector banks will focus on tighter cost controls, now they know why Fintechs are taking their share and how behind they are in innovation.
With that in mind, in the last CIAB (Brazilian Banking and Information Technology) 9 successful stablished Fintechs were selected to contribute to the discussion with their know-how, it was the step that banking industry set into the digital era.
Therefore, banks may start to join forces with Fintechs in 2016, so investors should look to the new ventures, partnerships and financial services as Brazilian market has recently had a positive forecast.
Thereby, new investments are expected from foreign investors as they see that currently new sectors are forming and new models are entering the market with specific characteristics and features.
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Nobiletec is a multi-national consultancy firm specializes in B2B, B2C and P2P FinTech solutions.