Using a cell phone to carry out some daily activities has become a common solution for a large part of the Brazilian population.
However, using mobile internet goes far beyond accessing social networks, posting photos and exchanging messages with friends and family.
Technology Benefits
The facilitation of technology also allows users to open and access accounts banking digital and carry out financial transactions quickly and easily, without having to go to physical branches.
Fintechs (companies that provide financial services using technology) are increasingly gaining ground in this newly explored market.
The big issue is that, despite this ease, many people still don't use financial services solutions to manage their money.
However, either due to the lack of information available about market options or due to the fear that it is not something safe and reliable.
Bureaucracy opening a bank account
A study by the Locomotiva Institute revealed that around 1 in 3 people over the age of 16 still do not have a bank account.
Although this scenario, until now dominated by the traditional financial system, which requires detailed bureaucracy before opening an account – including a rigorous credit analysis – signals signs of change due to the growing emergence of fintechs.
Concerned with further democratizing access to the digital financial market, these companies offer a range of online services for those who want to manage their money more easily and with less paperwork.
Today, for example, it's possible to open a bank account via WhatsApp, without the need for profile analysis or high fees. And best of all, the entire process takes just a few minutes.
More inclusion and less bureaucracy
In Brazil, the first digital 100% account for messaging apps was launched in October of last year. The Zap Bank Account aims to offer completely free financial transactions and microcredit through apps and social media messaging.
In short, streamlining these operations and promoting financial inclusion in Brazilian territory solutions.
The whole process is quite simple: just send a message to the number 48 40529990 (from the Zap Bank Account WhatsApp), provide your full name and CPF, and that's it.
The customer will now be able to perform transactions such as TED (transfers), DOC (transfers), pay or issue bills, and top up, all via text message. In short, opening an account takes no more than 2 minutes. It's very simple, fast, and intuitive.