Financial landscape of Brazil undergoing transformation and looking ahead to future developments
Santander Embraces Digital Transformation in Latin America, With Brazil Leading the Way
Santander, a global banking giant, is focusing its efforts on Latin America, prioritizing stability and predictable results in the region. The bank is also diversifying its income streams, with a focus on credit, assets, and fees, while enhancing operational efficiency.
Brazil, in particular, has emerged as a testing ground and a global case study for designing a more competitive financial system for the 21st century. The country's financial sector has undergone an unprecedented transformation due to technology adoption, a connected population, regulatory changes, and a commitment to digitalization.
This transformation is evident in the fact that over 94% of adults in Brazil now have access to a bank account and other basic financial services, according to a May 2025 survey by idwall.
Santander's strategy in Brazil is customer-centric. The bank aims to build a more profitable, balanced, and dependable bank through active listening, relevance, and agility. This approach has led to a consistent growth in Santander's Net Promoter Score (NPS) in both retail and corporate banking over the past 12-18 months.
The bank's new app, developed jointly by local and global teams, is a key element in their digital transformation strategy. Santander's aim is to be the customers' bank of choice in Brazil, providing convenience, trust, and value through branches, digital channels, and remote services.
Brick-and-mortar branches and remote channels remain crucial to serve customers when and where they most need help. Regulatory developments like Open Finance and Pix have boosted Brazil's digital shift, making it one of the world's most innovative, competitive, and inclusive financial sectors.
Some group companies of the Santander Group have been inspired by the developments in the Brazilian branch and have adopted some of the initiatives created in Brazil. Santander operates five global businesses, but the specifics of these businesses were not provided.
The bank monitors key performance indicators (KPIs) daily, including fees, efficiency, asset/liability mix, revenue forecasts, and ROI. Santander's diversification strategy and focus on customer service, digital transformation, and regulatory compliance position it well for continued success in Latin America.
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