- bineo is the result of Grupo Financiero Banorte's evolution with the aim of meeting the needs of individuals seeking a 100% digital solution.
- It is the only digital bank in Mexico operating with its own Multiple Banking Institution license granted by Mexican financial authorities and endorsed by IPAB, ensuring the protection of users' savings.
- bineo provides innovative, secure, and personalized products and services, focused on the specific needs of each customer. In its first phase, it offers: bineo Account, Total and Light, and bineo Loan.
MEXICO CITY, Feb. 1, 2024 /PRNewswire/ -- In line with its vision of being the best at banking in a digital world, Carlos Hank González, Chairman of Grupo Financiero Banorte, launches bineo the first 100% digital bank in Mexico.
bineo operates with its own multiple banking institution license authorized by the National Banking and Securities Commission (known in Spanish as CNBV), with a favorable opinion of Mexico's Central Bank (Banxico), and endorsed by the Mexican Institute for the Protection of Bank Savings (known in Spanish as IPAB), which, unlike other digital options in the market, guarantees the protection of users' savings up to 400 thousand UDIS (investment units), equivalent to more than 3 million pesos.
From today, people will have a bank in the palm of their hand through an easy, fast, and secure application that will accompany them 24/7 to offer products, benefits, and an experience tailored to their needs, habits, and personal context. bineo is oriented to meet the needs of 100% digital customers so they can move their money, save, and obtain loans where, when, and how they want.
Individuals can become bineo customers from their mobile phones without the need to visit a branch, by downloading the application available for IOS and Android.
In its launch phase, bineo will offer: bineo Account, Total and Light, and bineo Loan. In addition, bineo will provide new products and services based on customer needs.
The bineo Total Account allows unlimited deposits, while with the bineo Light Account, users have deposits limited to 3,000 UDIS per month, equivalent to approximately 24,000 MXN. In both accounts, they have access to bineo pockets where the user can allocate part of their savings to meet specific goals. Additionally, customers will have access to a digital debit card for secure online purchases and an infoless physical card (without printed card number or CVC) made from degradable materials. The physical card can be used at over 10 thousand Banorte ATMs.
On the other hand, customers can request the 100% digital bineo Loan in minutes, without having to go to a branch, and thus have immediate access to their money in a bineo account. Loan amounts range from $5,000 MXN to $200,000 MXN, with no opening commission, access to competitive rates, and repayments between 6 and 24 months.
"The launch of bineo is a great milestone in the history of Grupo Financiero Banorte that will allow us to meet all needs: those who prefer a human-digital combination and those who seek 100% digital banking, with the financial security that has always characterized the institution," said Carlos Hank González, Chairman of the Board of Grupo Financiero Banorte.
In this regard, Marcos Ramírez Miguel, CEO of Grupo Financiero Banorte, added: "bineo is the result of the evolution of Grupo Financiero Banorte; it combines more than 120 years of group experience with the best of technology to meet the needs of 100% digital profiles."
On his part, Francisco Martha, CEO of Digital Business Development at Grupo Financiero Banorte, highlighted: "At bineo, we understand the context and preferences of users. We use artificial intelligence to offer innovative and customizable products and functionalities that adapt to their needs and lifestyle. In addition, bineo uses cutting-edge technology to provide the highest levels of security and attention."
Likewise, Víctor Moya, CEO of bineo, commented: "We imagine a bank that puts people at the center, and we created it! We think in a different way of managing finances, where personalization is the heart of what we do. bineo will offer new products and services based on customer needs so as not to confine them to a product designed by us."
In the upcoming phases, bineo will offer a wide range of products to continue facilitating life for its customers, allowing them to move their money as, when, and from where they want, in an easy, fast, and secure manner.
Email: [email protected]
Contact number: (55) 8471-7481
About Grupo Financiero Banorte:
Grupo Financiero Banorte (GFNorte) is the largest financial institution in Mexico. It provides financial services to individuals and businesses through its banking, brokerage, fund management, insurance, pensions, leasing and factoring, warehousing, portfolio management, and remittance businesses. GFNorte also includes Afore XXI Banorte, the country's largest pension fund by asset management. GFNorte has over 32,000 employees, 1,164 branches, 10,372 ATMs, 197,216 Point of Sale Terminals, and 19,782 correspondents, which, with the alliance with OXXO, will reach almost 41 thousand.
SOURCE Banorte