SoftBank-backed online bank Inter bets on Brazilians in Florida [Yahoo! Finance]
SOFTBANK GRP UNSP/ADR (SFTBY)
NASDAQ:AMEX Investor Relations:
softbank.jp/en/corp/irinfo/presentations
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Source: Yahoo! Finance
market success in the United States, where it is targeting visitors from Latin America's largest country in two of Florida's biggest cities, the firm's chief executive said. Inter has quickly become one of the top fintech players in Brazil's booming online banking scene, gaining 32 million clients drawn by a wide menu of products such as credit cards, mortgages and investments through its smartphone app. But Inter must overcome the hurdles of building its presence from the ground up in the United States, where fintechs have struggled to make inroads against established banks. Inter launched its U.S. operations with a headquarters in Miami in 2021 and in May expanded its physical presence with a "lounge" for clients in Orlando, also a hotspot for Brazilian migrants and tourists. "Orlando is the most Brazilian city outside of Brazil," Chief Executive Joao Vitor Menin told Reuters on Tuesday, saying Inter would first target Brazilians traveling to or living in the United States,
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