INVEX Banco, a private Mexican bank with almost 30 years of operations in the market, has introduced the fully-digital neobank – Now
INVEX Banco, one of the leading Mexican banks, has launched a side project – Now, 100% digital neobank.
According to the institution, the new proposal will combine the best features of traditional banking with the flexibility of fintech. Customers assets will be protected by The bank management hopes to amass a million-customer userbase in the first two years of operation.
The neobank offers basic banking features such as digital and physical debit cards, money transfers, deposits via the SPEI system or bank ATMs, bill payments, etc. Despite the fully-digital service, the bank will have a live support to address one’s queries to.
It will be another alternative to the Brazilian Nubank, and Mexican Hey Banco and Klar, that have been the top three most popular neobanking apps in the country so far.
The total market potential of the new venture is about 11 million digital service users who are looking for accessibility to the banking system, ease and financial security. These probably include some of the existing customers of INVEX itself, which is the sixth-largest issuer of credit cards in Mexico and has over 30 billion pesos under management.