Bank cost-cutting a threat to Brazilian fintechs, says Creditas CEO
Sharp cost-cutting by Brazilian banks could drive price-based fintech models out of business. Lack of historical data and high customer acquisition costs puts fintechs at a disadvantage in comparison to banks and technology companies. Incorporating nonfinancial services is a way for fintechs to counterattack big techs’ foray into finance. Sergio Furio is the founder and…