One of the most popular payment methods in Brazil, Pix has been increasingly winning the hearts of Brazilians. With the recent record of 227 million transactions in a single day, according to data from the Central Bank, the platform has the ability to promote financial inclusion in the country, being responsible for bringing more than 71 million citizens into the market,according to the authority. However, another point that deserves attention is that this tool also helps banks to increase their service offerings. To get an idea, a recent study by ACI Worldwide indicates that real-time methods will contribute to 2,8 million new account holders, representing potential profits of US$ 8,9 billion for Brazilian financial institutions by 2028
According to Igor Castroviejo, commercial director of 1datapipe, consumer insights platform based on Artificial Intelligence, Pix was responsible for democratizing the way people make transactions in Brazil. This method made things more practical, because now it is possible to make payments without having to carry a wallet around. Having a cell phone with a data plan, the user can make payments in various locations without having to bear bank fees. Because of this, the platform gained great popularity, with about 42 billion transactions in the last year,according to data from the Central Bank.”
Due to the abundant use of Pix in Brazil, banks now have one more source of data when offering products, mainly those related to credit. "For a long time", the autarchies relied on very superficial information when it came to an evaluation, how the fact that a person has a bank account or a formal job. However, in Brazil, there are more than 4 million people without a bank account, according to the Locomotiva Institute, and 38% working informally,according to the PNAD. So, how to reach these people?”, questions the executive
The fact is that a study by the Central Bank revealed that the states with fewer bank branches are the ones that recorded the most transactions via Pix, with the North region being the most prominent, with 21 transactions per person. "All of this turns to gold for the banking institutions". Through the use of Artificial Intelligence solutions combined with data analysis, banks can reach a larger layer of information about potential clients, as an online purchase history, behavior on the internet and payments of bills or services that were made via Pix. Thus, without that previous limitation, more people are covered by institutions and have access to credit. At the same time, the autarchies are able to close more deals, explain
For November, for example, the launch of Pix by Proximity is planned, method in which the payment method can be registered in digital wallets, what makes life easier for the consumer, what can make a transaction without accessing the bank app. "In this way", a banking institution can leverage the data from this platform to assess customer behavior patterns, identifying usage trends, peak activity times and channel preferences. This information can feed credit or fraud prevention models, evaluating the payment capacity and financial behavior based on your usage, Igor Castroviejo finishes
