BMG Bank, a leader in payroll loan services, has just launched a new digital self-service channel aimed at non-account holders. Through the bank’s app, anyone eligible for payroll loans can access offers without bureaucracy or the need to open an account. This new feature is part of BMG’s strategy to expand its connection with the addressable credit market, increasing offer channels and digital reach even in areas without physical branches or help!—the bank’s credit store network with over 830 locations across the country.
The addressable market for payroll loan products is estimated at around 100 million people, including INSS retirees and pensioners, as well as public and private employees. According to IBGE data, this number is expected to grow by approximately 15 million new retirees and pensioners by 2031. Currently, BMG’s customer base stands at 10.5 million users.
The new app feature stands out by allowing users to contract more than one credit line simultaneously, along with various insurance options. “One of our key priorities for 2025 is to expand our presence in the payroll loan market beyond our current user base, providing speed and convenience for those who need money simply and quickly. Focusing on the customer’s needs journey, they can compare offers and choose the one that makes the most sense for their situation,” says Lauro Leite, Product Director at BMG Bank.
Digital journey
The channel offers a seamless journey for users, who can access credit options quickly and easily by simply entering their CPF (tax ID) number. Through the app, customers can contract one or more products, such as payroll loans, payroll credit cards, benefit payroll credit cards, FGTS birthday withdrawal advances, and insurance—both for salaried employees (like FGTS Life Insurance) and payroll loan beneficiaries (like Credit Life Insurance for Benefit Cards). Eligible individuals must be over 18 and either INSS or FGTS beneficiaries, subject to approval.
“BMG is undergoing a digital transformation where the focus is on the customer experience and how technology can be an ally in democratizing access to credit. That’s why we developed an intuitive and secure self-service channel where loans can be obtained in just a few steps—no account required,” says Bruno Capelin, Growth Director at BMG Bank.
The ease of access is also backed by high security standards, with protection layers such as authenticity verification, data checks, and biometric authentication.
The self-service channel can be accessed via the homepage of the BMG Bank app, available for download in the iOS and Android app stores.
