Low funding cost boosts Inter's competitiveness in credit
Inter operates with a funding cost of 64% of the CDI (Interbank Deposit Certificate), an index that, according to the institution itself, may be the lowest in the Brazilian financial industry. This performance is attributed to a strategy built since 2016, when the digital retail bank was launched with a free and complete account proposal.
The free model attracted a large volume of engaged customers, who began to deposit their resources with Inter. These resources are distributed between demand deposits, CDBs (Bank Deposit Certificate) and LCIs (Real Estate Credit Bill). "With this, we end up delivering this mix of funding costs, super healthy, at 64% of the CDI", explained Alexandre Riccio, CEO of Inter, during an interview with Numbers Falam, which will air this Friday.
Currently, between 20% and 30% of Inter's funding comes from demand deposits, which have zero cost or very close to zero. Another 15% to 20% comes from LCIs, which also have a lower cost than the CDI. The remainder is mainly made up of CDBs, whose remuneration is around 100% of the Certificate. According to Riccio, this combination allows the bank to maintain an average funding cost equivalent to just 64%.
Competitive advantage in credit
The low cost of funding is seen as a relevant strategic differentiator for operating in the credit market. The institution recognizes that, in 2012 and 2013, the higher cost of funding limited its ability to choose which segments to compete in. According to the CEO, with this percentage it is possible to choose where the company wants to compete.
In addition to basic fundraising products, Inter also operates an investment distribution platform. According to the data presented, one in five Brazilians who have a Treasury Direct do so through Inter, and approximately 16% of CPFs with real estate funds also use the institution's platform.
Mainity strategies
Inter also has 44 million customers, of which 25.8 million are considered active, equivalent to an activation rate of 56.8%. With this consolidated base, the institution's strategy ceased to be the accelerated expansion of the number of users and began to prioritize the so-called principality - making Inter the main bank in each customer's life. According to Riccio, the company evolved from a digital bank to an ecosystem with more than 180 products and services, distributed through channels such as the application and WhatsApp. The objective is to expand the relationship with those who are already customers, increasing the use of the platform and revenue generation.
To do this, the bank uses Seven, its artificial intelligence platform, responsible for personalizing offers according to each user's profile. "We hyperpersonalize with a series of propensity models to make the right offer to the right customer, at the right time," explained Riccio.
The Numbers Falam program is a NeoFeed production with CNN Brasil and is presented by Márcio Kroehn. Follow the new episodes, biweekly, at 7:45 pm, on CNN Money.
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Source: CNN