Banking in Brazil Consumption Trends Analysis¶
Behavior Change Signals¶
1. Instant, Cash-Lite Payments Led by Pix¶
Pix has become Brazil’s default rail for P2P, P2B and B2B transfers, moving R$ 27.3 trillion in 2024 (Banco Central). Consumers and merchants now expect 24/7, free-or-low-cost instant settlement.
• Value-chain impact – Payments economics (lower MDR/interchange), deposit mix (more sight balances), need for fraud-analytics infrastructure, pressure on card-issuing and acquiring margins.
• Strategic response – Monetise merchant use-cases (Pix Cobrança, Pay-by-link), overlay services (credit scoring, loyalty) and embed Pix into super-apps and ERP systems.
2. Mobile-First & Omnichannel Banking¶
Over 80 % of retail interactions already occur on smartphones (Galileo, 2024). Users expect frictionless onboarding, biometric login and in-app service resolution. Physical branches are consulted mainly for advisory or complex issues.
• Value-chain impact – Fundraising/Captation shifts to digital accounts; support activities (IT, CX) dominate CAPEX; HR profiles migrate from tellers to UX, data and agile squads.
3. Personalisation through Open Finance & AI¶
Four phases of Open Finance give licensed players API access to deposits, credit, investments, insurance and payments data (BCB agenda 2024-25). Consumers grant consent in search of better rates, tailored recommendations and automated money-management.
• Value-chain impact –
– Fundraising: differentiated pricing for granular risk-based deposits.
– Lending: richer credit models expand addressable market and lower NPLs.
– Asset/Wealth: holistic portfolio view enables goal-based advisory.
4. Alternative Credit & BNPL Boom¶
BNPL volumes forecast to grow 14 % YoY to US$ 4.66 bn in 2025 (Research-And-Markets, 2025). Payroll-deducted loans, digital micro-credit and merchant-embedded instalments serve under- and un-banked segments.
• Value-chain impact – New origination channels, shorter ticket/tenor profile, higher data-science spend; pressure on traditional revolving credit.
5. Democratisation of Investments¶
Individual investments climbed to R$ 7.3 trn in 2024 (Anbima), with fixed income still dominant but rising appetite for multimercado, incentivised debenture funds and ETFs. Investors demand app-based execution, fractional shares and robo-advice.
• Value-chain impact – Asset-gathering rivals deposits as core funding; battleground for customer primacy between incumbent banks, XP-type brokers and digital wallets.
6. Integrated Financial Super-Apps & Embedded Finance¶
Consumers and SMEs want banking, payments, credit, investing and insurance in a single interface. Nubank, Mercado Pago and MagaluPay blend marketplace, logistics and finance. Non-financial brands adopt Banking-as-a-Service (BaaS) to launch white-label accounts.
• Value-chain impact – Disintermediation risk for traditional banks; API productisation of core systems; compliance burden on sponsor banks (new BCB BaaS rules 2025).
7. Trust, Security & Privacy as Differentiators¶
Cyber-fraud attempts rose in step with Pix and Open Finance. FEBRABAN projects bank IT-security spending to reach R$ 47.8 bn in 2025 (+13 % YoY). Consumers reward brands that offer biometric authentication, purchase guarantees and transparent data-handling (LGPD).
• Value-chain impact – Escalating cost in support activities (IT, Risk, Compliance); potential competitive moat for well-capitalised players.
8. ESG-Aligned Financial Choices¶
Demand grows for green loans, ESG debentures and SRI funds as Brazil advances a regulated carbon market (OECD 2024). Corporates seek sustainability-linked credit; retail investors seek impact funds.
• Value-chain impact – Lending underwriting criteria incorporate emission targets; capital-markets desks structure labeled securities; asset managers integrate ESG analytics.
9. Financial Education & Responsible Consumption¶
BCB’s 2023 resolution mandates financial-education action plans. Customers request in-app simulators, nudges and content to avoid over-indebtedness.
• Value-chain impact – Marketing/Sales shift from product push to advisory; potential reduction in delinquency and churn.
10. Corporate Digital Treasury & Capital-Market Appetite¶
Record R$ 783.4 bn in capital-market issuances in 2024 (Anbima) show CFOs prefer market funding over bank loans amid Selic cycle. Corporates adopt Pix for supplier payments and ERP-embedded cash-management.
• Value-chain impact – Investment-banking fees rise; transactional banking must offer API connectivity, virtual accounts and real-time reconciliation.
11. Data-Driven, API-Centric Partnerships¶
Banks, fintechs and big-techs leverage Open Finance APIs, DREX pilots and BaaS to co-create propositions, distributing risk and revenue.
• Value-chain impact – Support activities (Legal, Risk) adapt to multilayer contracts; core functions become modular services monetised via usage fees.
12. Talent & Culture Shift to Digital Specialists¶
Demand surges for data scientists, cyber-experts and agile product owners; legacy roles decline. Competition extends beyond financial sector.
• Value-chain impact – HR strategies emphasise reskilling, flexible work and fintech-style cultures; affects speed of innovation across all value-chain links.
Summary Table of Key Findings¶
| # | Behaviour Change Signal | Main Customer Segment(s) | Principal Value-Chain Step(s) Affected | Opportunity for Players | Key Risk if Unaddressed |
|---|---|---|---|---|---|
| 1 | Pix-driven instant payments | Retail, MSMEs, Merchants | Transaction Processing & Payments; Fundraising | New merchant products, data monetisation | Fee erosion on cards; fraud spikes |
| 2 | Mobile-first banking | Retail | Fundraising; Support (IT/CX) | Lower cost-to-serve, richer engagement | Channel fragmentation, churn |
| 3 | Open Finance personalisation | Retail, SMEs | All core steps | Tailored pricing, cross-sell uplift | Loss of data-ownership advantage |
| 4 | Alternative credit & BNPL | Retail, Merchants | Lending | Tap underserved markets, POS finance | Higher credit-loss volatility |
| 5 | Democratised investments | Mass affluent, Retail | Fundraising; Asset/Wealth | AuM growth, fee diversification | Margin pressure from disruptors |
| 6 | Super-apps & embedded finance | Retail, SMEs | Payments; Other Financial Services | Platform fees, larger ecosystem | Brand invisibility, compliance liability |
| 7 | Security & privacy priority | All | Payments; Support (Risk/IT) | Trust premium, premium services | Reputational damage, fines |
| 8 | ESG-aligned finance | Corporates, Investors | Lending; Capital Markets; Asset Mgmt | Access to green capital pools | Funding penalties, green-washing scrutiny |
| 9 | Financial education need | Retail | Marketing/Sales; Lending | Loyalty, reduced defaults | Regulatory sanctions, social backlash |
| 10 | Corporate digital treasury | Corporates | Capital Markets; Payments | Fee growth, stickier relationships | Disintermediation by fintech ERPs |
| 11 | API-centric partnerships | Fintechs, Non-banks | All steps (modularisation) | New distribution, cost sharing | Dependency & integration risks |
| 12 | Talent digitalisation | Internal (HR focus) | Support Activities | Innovation speed, employer branding | Talent drain, execution gaps |
References¶
Agência Gov. (2023, Dec 28). BC regula atuação em educação financeira do setor financeiro. https://www.gov.br/pt-br/noticias/financas-e-impostos/2023/12/bc-regula-atuacao-em-educacao-financeira-do-setor-financeiro
Anbima. (2025, Jan 22). Mercado de capitais encerra 2024 com emissão de R$ 783,4 bilhões. https://www.anbima.com.br/pt_br/noticias/mercado-de-capitais-encerra-2024-com-emissao-de-r-783-4-bilhoes.html
Anbima. (2025, Mar 14). Investimentos dos brasileiros crescem 12,6% e chegam a R$ 7,3 trilhões em 2024. https://www.anbima.com.br/pt_br/noticias/investimentos-dos-brasileiros-crescem-12-6-e-chegam-a-r-7-3-trilhoes-em-2024.html
Banco Central do Brasil. Estatísticas monetárias e de crédito (accessed Apr 2025).
Capgemini. (2025). Financial Services Top Trends 2025.
CGAP. (2024, Mar 10). Open Finance Can Reduce Financial Inclusion Gaps: Here's How.
FEBRABAN. (2025, Apr 10). Investimento dos bancos em tecnologia deve crescer 13 % em 2025 e chegar a R$ 47,8 bilhões. https://www.febraban.org.br/imprensa/todas-noticias/investimento-dos-bancos-em-tecnologia-deve-crescer-13-em-2025-e-chegar-a-r-478-bilhoes
Galileo. (2024, Jun 17). 3 Ways Brazilian Banks Can Deliver Customer-Centric Banking in 2024.
IMARC Group. (2024). Brazil Retail Banking Market Size, Share and Forecast 2033.
IT Forum. (2025, Apr 3). Novas regras do Banco Central para BaaS exigem preparação. https://itforum.com.br/noticias/novas-regras-do-banco-central-para-baas-exigem-preparacao/
McKinsey & Company. (2025, Feb 28). Brazil's economy is stable, but consumers are feeling down.
Panorama Abecs. (2024, Aug 7). Cartões movimentam R$ 2 trilhões no primeiro semestre de 2024. https://panorama.abecs.org.br/noticias/cartoes-movimentam-r-2-trilhoes-no-primeiro-semestre-de-2024
ResearchAndMarkets.com. (2025, Feb 28). Brazil Buy Now Pay Later Business Report 2025.
Zendesk. (2025, Feb 24). 5 banking customer experience trends to consider for 2025.