Brazil’s digital banks urged to improve transparency for consumers

Brazilian consumers are navigating an increasingly digital financial market, where platforms now offer a range of products from basic accounts to investments, credit, insurance and super‑app services. Experts emphasize that under the Consumer Defense Code, financial institutions must provide clear, accessible information so customers can understand product risks, costs and returns, especially for sophisticated investment offerings.

Digital banks such as Banco Inter are expanding their services and promoting security measures like multi‑factor authentication, biometrics and data encryption. While fees have been reduced compared with traditional banks, consumers are advised to evaluate security, fee structures and the institution’s compliance record before choosing a digital provider.