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Financial System Infrastructure in Brazil Mapped Whitespaces Report

Potential Whitespaces

Whitespace Description Market Signals Identified Potential Addressable Market (Number of Entities/Users)
1. "Pix-First" SME Financial Hub Demand: SMEs & MEIs need MDR ≤ 1%, transparent pricing, affordable working-capital credit. High "Custo Brasil". Mass Pix adoption by businesses (B2B Pix >R$1tn Dec 2024, +56% YoY). SME/MEI digitization. B2B payment inefficiencies.
Offer: Low-cost P2B Pix solutions. Modern core systems & cloud migration. Open Finance for credit scoring. Fintechs, BaaS, embedded finance. Banks' IT spend (R$39bn 2023) supporting Pix.		 ~20 million to 25 million SMEs & MEIs
2. Democratized Access to Diversified & Digital Assets Demand: Retail investors need zero-fee fractional investing, low-cost custody (ETFs, international, gov. bonds). Lack of access outside tier-one cities. Retail diversification (B3 accounts 5.5m, +15% YoY; incentivized debentures R$111.9bn 2024). Need for financial literacy & decision support.
Offer: DLT & DREX for asset tokenization, efficient custody. New asset class infrastructure (ESG, Digital). Tokenization & DREX pilots. B3 tokenized-asset sandbox. Nuclea's crypto-asset services expansion.		 ~20 million to 150+ million individuals
3. Proactive & Insured Digital Security Services Demand: Rising Pix-related scams (>40% YoY). Need for biometric-plus-behavioral authentication, insured scam limits. Desire for <1-hour automated dispute resolution. Heightened security & fraud awareness.
Offer: AI-powered fraud detection, biometric authentication. Predictive fraud analytics via AI. Heightened investment in Cybersecurity & Fraud Prevention.		 ~170 million to 180 million individuals & small entities
4. Open Finance-Powered SME Embedded Finance Demand: SMEs & MEIs struggle for affordable, data-driven, same-day working capital. Desire embedded B2B BNPL. Operational inefficiencies (manual reconciliation, slow lien perfection). Need plug-and-play ERP/payment connectors. SME/MEI digitization & B2B payment boom.
Offer: Open Finance for data-driven credit, PISP. DLT & DREX for tokenized receivables. Surge of fintechs, BaaS, embedded finance. Increased competition in asset registration (CERC, TAG).		 ~20 million to 25 million SMEs & MEIs
5. "Real-Time Treasury & Trade Finance" for Corporates Demand: Large corporates & fintechs need ISO 20022-native APIs for STP. Expect 24/7 RTGS-equivalent high-value rails. B2B payment inefficiencies. Interoperability issues, data siloing (multiple ERPs/APIs).
Offer: DLT & DREX for T+0 atomic settlement, tokenized trade instruments. Modern core systems & cloud for real-time processing. Full ISO 20022 adoption. Tokenization & DREX pilots.		 ~30 thousand to 100 thousand corporates
6. Unified Financial Transparency & Advisory Platform Demand: Opaque fee structures, hidden investment costs. Need for credit cost comparison tools (merchants & consumers). Consolidated multi-broker performance dashboard for investors. Regulatory paperwork burden.
Offer: Open Finance for aggregated financial product/fee views. AI for personalized fee/product comparison, robo-advisors. Data empowerment via Open Finance (>50m consents).		 ~150 million to 180 million users
7. Cross-Sector Open Data Ecosystem Integrator Demand: Interoperability issues, data siloing (Open Finance gaps: insurance, investments; inconsistent data quality). Corporates' high integration costs (multiple ERPs/APIs). Need for single-consent, open-standard architecture for all financial products.
Offer: Expanding Open Finance (broader data sharing). DLT & DREX for interoperable networks. Full ISO 20022 adoption & interoperable APIs. Deepening Open Finance integration.		 ~3,000 to 4,000 financial system institutions (initially)
8. Gamified & Contextual Financial Wellness Journeys Demand: Retail investors & MEIs need personalized education (micro-videos, simulations) in-app, triggered by data insights. Desire robo-advisory considering behavioral biases & local tax.
Offer: AI & advanced analytics for robo-advisors, personalized education. Financial inclusion via integrated education in digital platforms. Open Finance data empowerment for personalized insights.		 ~100 million to 170 million users

References

  • ANBIMA Data. Volume emitido de incentivadas supera em 65 % o total de 2023. https://data.anbima.com.br/debentures/volume-emitido-debentures-incentivadas-supera-2023
  • Banco Central do Brasil. Infraestruturas do Mercado Financeiro. https://www.bcb.gov.br/estabilidadefinanceira/infraestruturasmercado
  • Banco Central do Brasil. Open Finance. https://www.bcb.gov.br/estabilidadefinanceira/openfinance
  • Banco Central do Brasil. Sistema de Pagamentos Brasileiro (SPB). https://www.bcb.gov.br/estabilidadefinanceira/sistemadepagamentosbrasileiro
  • CERC. Infraestruturas do Mercado Financeiro (IMF). https://cerc.inf.br/sobre-imf/
  • Dock. Infratech financeira: como a estrutura tecnológica pode transformar e otimizar os serviços financeiros. https://www.dock.tech/blog/infratech-financeira/
  • FEBRABAN Notícias. Pix é o meio de pagamento mais usado no Brasil em 2023; TED lidera em valores transacionados. https://quantoplan.febraban.org.br/noticias/pix-e-o-meio-de-pagamento-mais-usado-no-brasil-em-2023-ted-lidera-em-valores-transacionados
  • IT Forum. Tendências de tecnologia para o mercado financeiro. https://itforum.com.br/tendencias-de-tecnologia-para-o-mercado-financeiro/
  • Nuclea RI. Núclea, antiga CIP, entra para associação da criptoeconomia. https://ri.nuclea.com.br/noticias/nuclea-antiga-cip-entra-para-associacao-da-criptoeconomia/