Brazil Itaú digital bank triples customer base and attracts 10 million customers

Iti, Itaú Unibanco's digital bank, tripled its customer base in September, reaching 10 million accounts. Thus, Brazil's largest lender has been gaining scale to measure forces with Nubank and Inter Bank.

RIO DE JANEIRO, BRAZIL - The numbers come as Itaú launches an Iti media campaign, expands its credit operations and begins to prepare the platform to generate greater engagement, which may range from content to e-commerce.

Itaú is stepping up to make Iti, launched in November 2019, a digital wallet, a full-fledged online bank and show it didn't passively watch rivals' momentum during the Covid-19 pandemic. PicPay, the country's largest digital wallet, surpassed 55 million users in September, while Nubank reached 41 million customers by the end of the first half.

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