Banco Original customers will be transferred to PicPay, says website

Banco Original customers will be transferred to PicPay, says website

Banco Original will change its area of ​​operation, aiming to serve large companies and the agribusiness sector — ending its services for individuals (PF). In this way, customers in this category will be transferred to PicPay, which is also part of the J&F Group.

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The information was obtained exclusively by the Suno Notícias portal, by sources who preferred to remain anonymous. According to the report, the initiative aims to strengthen the group’s digital portfolio and reduce the costs of financial operations, as the company currently pays Banco Original and PicPay teams to offer the same services. The migration will reduce these costs for the holding company.

The project is led by José Antônio Batista, former CEO of PicPay and current leader of Banco Original. The executive was responsible for significant changes in the digital portfolio and is now set to repeat his achievements at the bank. The forecast is that the data migration of the systems between PicPay and Banco Original will be completed in September.

In July 2022, Original had more than 7 million customers, while PicPay had 71.2 million registered users, with a monthly volume of 32.1 million active users. The arrival of Original customers will boost PicPay to officially become a bank. However, fintech still needs to comply with some regulatory acts to carry out these operations.

FreeGameGuide contacted Banco Original to confirm this transaction and find out more details, but received no response. PicPay declined to comment on the news.

Source: Suno