Banca Afirme has launched its digital bank "Billú," a significant development in Mexico's financial sector. This banking service aims to provide customers with seamless and secure financial solutions through cutting-edge technology and Artificial Intelligence (AI). Billú is poised to revolutionize how customers engage with their finances by offering various digital services and exclusive benefits.
Billú offers a wide array of benefits, including a fully digital account opening process without minimum deposit or monthly balance requirements, free transfers, cardless withdrawals and cashback rewards of 1% on all online purchases and up to 35% on US-based commerce. Furthermore, customers can access services such as Billú auto insurance, a digital Visa debit card that does not need a physical card and free Visa-provided financial education platforms with over 50 courses.
José María Sobrevía, Corporate Digital and Commercial Director, Afirme Grupo Financiero, outlined the bank's ambitious goal of acquiring over 250,000 customers by 2023. He highlighted that the initial launch of Billú required an investment of over MX$300 million (US$17.08 million), underscoring the bank's commitment to digital expansion. "Afirme aims to expand its digital services further, targeting new markets centered around the Metaverse and emerging technologies," reads Billú's press release.
Sobrevía identified an important market segment: New Technology Early Adopters (NTEA). These are individuals seeking the latest technological advancements in their financial services. Billú aims to cater to this market by providing a solution that meets their needs while delivering an intuitive user experience. By establishing a solid connection with its clientele, Billú aims to be present where customers are and offer them the required financial services. Additionally, Martín Alonso Mercado Arias, Head, Billú, emphasized that the Metaverse extends beyond virtual and augmented reality, stating that Billú will be the first bank in Mexico to educate its customers about blockchain technology. By introducing customers to the benefits of blockchain in their daily lives, Billú seeks to elevate their financial management to a new level.
In collaboration with Visa, Billú aims to address the challenges posed by open banking, allowing customers to visualize their accounts with other banks and fintech companies. Luz Adriana Ramirez, General Manager, Visa Mexico, highlighted Visa's enthusiasm for partnering with Billú. She added that Visa is committed to providing innovative payment technologies that cater to the demands of the digital consumer and the future of money movement. Visa's global expertise will contribute to co-creating solutions and integrating disruptive technologies such as Web3, the Metaverse, tokens and blockchain. Furthermore, Visa's financial education programs will enhance Billú's offerings, empowering customers to manage their assets more effectively and build a solid financial future.