Brazil's digital banks boost customer loyalty and mobile transaction growth

Digital banks in Brazil have become the primary channel for financial interactions, handling 82% of all banking transactions and 75% of those through smartphones in 2024. Mobile banking recorded 155 billion transactions, a 15% rise from the previous year, highlighting the sector’s rapid expansion.

A Bain & Company study shows that credit‑card experiences can increase customer retention for digital banks by up to 20 points, compared with an 8‑10‑point impact for traditional banks. The research segmented consumers into ten profiles based on income, age, occupation and product use, noting that high‑income users (31‑45 years) rely heavily on credit cards, while lower‑income groups place even greater weight on the overall experience.

Digital lenders leverage data analytics to create personalized, friction‑free journeys and maintain robust security measures such as transaction monitoring and encryption. Executives say the shift has lowered costs, reduced bureaucracy and broadened financial inclusion across Brazil.