Hey Banco to Operate Independently After Banregio Split

Hey Banco, the digital arm of Regional Grupo Financiero, will officially begin independent operations under its own banking license on Jan. 31, 2026. The institution has begun notifying clients that the transition marks its final separation from Banregio, although it remains a subsidiary of the same financial group.

The move follows a multi-year regulatory process. The National Banking and Securities Commission (CNBV) granted Hey Banco an organization license in July 2023, but the entity required a final operating authorization and completion of a corporate spin-off from Banregio to function as a standalone bank. 

Consolidation within the Digital Ecosystem

Hey Banco enters this new phase as a major player in Mexico’s competitive digital banking landscape. Unlike many "neobanks" operating as Simplified Manual Specialized Societies (SOFIPOs), Hey Banco is a multiproduct, multisegment digital bank. With over MX$1.58 billion in assets and a customer base exceeding 500,000, it holds a leading position in active digital clients.

The bank’s differentiator is an integrated ecosystem serving both individuals and businesses, with products including deposits, credit cards, investments, and loans. This holistic approach has enabled the firm to achieve profitability ahead of international competitors entering Mexico, such as Revolut and Santander’s Openbank.

A central pillar of the bank’s independence is Hey Tech, its proprietary technology division. Developed to support Hey Banco’s own operations, Hey Tech also provides solutions to third-party organizations. In Mexico, its focus areas include:

• Treasury Automation: Tools for payment link collections and recurring charges.

• Fund Concentration: Streamlined SPEI and TEF transfers for high-volume corporate clients.

• Artificial Intelligence: Over 40 proprietary AI models to aid other financial institutions with fraud prevention and client onboarding.

By developing 95% of its technology in-house, Hey Banco maintains a continuous feedback loop with users — a key advantage for a digital-first bank operating without a traditional branch network.

B2B Strategy and AI Innovation

The bank’s B2B segment, Hey Negocios, combines automated technology with human support for SMEs. In 2026,Hey Banco plans to prioritize “Agentic AI” — autonomous systems capable of processing customer data to deliver personalized financial products based on individual risk profiles.

“We believe the adoption of agentic AI will be revolutionary,” said Demetrio Strimpopulos, Chief Design Officer, Hey Banco, in an interview with MBN, He added that incorporating non-financial data within an Open Data framework, beyond traditional Open Banking, is key to extending financial inclusion to Mexico’s unbanked population.

Mexico Authorizes 89 Fintech Institutions Amid Sector Growth

Since the enactment of the Fintech Law in 2018, Mexican authorities have authorized 89 Financial Technology Institutions (ITFs) and Novel Models. According to the latest Banxico report, 198 applications were submitted through late 2025, with 139 resolved. Authorized entities fall into two main groups: Electronic Payment Fund Institutions (IFPE) and Collective Financing Institutions (IFC, or crowdfunding).

IFPEs constitute the largest segment, with 62 of 134 applications approved. IFCs received 27 approvals from 55 submissions, with 34.4% focused on real estate. Debt crowdfunding is growing, though weighted average default rates reach 8.4%, with some entities exceeding 30%.

Despite growth, fintech remains a small portion of Mexico’s financial system, representing 4.9% of the capital held by multiple banking institutions. Activity is concentrated: in September 2025, IFPEs reported 34 billion pesos in assets, 82.4% of which were held by the eight largest institutions. Banxico notes that, while individual investor risks exist, the sector’s current scale does not pose systemic threats.

Rapid sector evolution has prompted calls for legislative reform. In November 2025, industry representatives urged updates to the 2018 Fintech Law, arguing that the current framework is incompatible with market dynamics and fails to ensure a level playing field. Advocates stress that modern regulation is essential to maintain Mexico’s leadership in regional financial technology.