Brubank is an Argentine

digital bank A neobank is a type of direct bank that operates exclusively using online banking without traditional physical branch (banking), branches. They challenge traditional banks. In contrast to direct banks, in many cases, neobanks do not have their ow ...

. Headquartered in

Buenos Aires Buenos Aires, controlled by the government of the Autonomous City of Buenos Aires, is the Capital city, capital and largest city of Argentina. It is located on the southwest of the Río de la Plata. Buenos Aires is classified as an Alpha− glob ...

, Brubank is a

financial technology Financial technology (abbreviated as fintech) refers to the application of innovative technologies to products and services in the financial industry. This broad term encompasses a wide array of technological advancements in financial services, ...

company offering mobile banking, as well as other financial services. It is recognized as the first entirely digital bank in Argentina.

Services

Brubank associates all its users accounts to a

Visa Visa most commonly refers to: * Travel visa, a document that allows entry to a foreign country * Visa Inc., a US multinational financial and payment cards company ** Visa Debit card issued by the above company ** Visa Electron, a debit card ** Vi ...

debit card A debit card, also known as a check card or bank card, is a payment card that can be used in place of cash to make purchases. The card usually consists of the bank's name, a card number, the cardholder's name, and an expiration date, on either ...

. It also offers exchange service between

United States dollar The United States dollar (Currency symbol, symbol: Dollar sign, $; ISO 4217, currency code: USD) is the official currency of the United States and International use of the U.S. dollar, several other countries. The Coinage Act of 1792 introdu ...

s and Argentine pesos and

time deposit A time deposit or term deposit (also known as a certificate of deposit in the United States, and as a guaranteed investment certificate in Canada) is a deposit in a financial institution with a specific maturity date or a period to maturity, c ...

s in those currencies.

History

Brubank was founded in 2017. Juan Bruchou, CEO of

Citibank Argentina Citibank Argentina is a commercial bank and financial services company and a subsidiary of Citigroup. It currently provides institutional services. In 2016, its retail operations were sold to Banco Santander Río. Overview Citibank Argentina wa ...

, had proposed an entirely digital bank, without branch offices. Brubank obtained license by the

Central Bank of Argentina The Central Bank of the Argentine Republic (, BCRA) is the central bank of Argentina, being an autarchic entity. Article 3 of the Organic Charter lists the objectives of this Institution: “The bank aims to promote, to the extent of its powers ...

to operate in September 2018. After a first "friends and family" trial, Brubank launched its app on

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and Android stores. In August 2019, Canadian billionaire David Thomson bought a 15 percent stake in Brubank.

References

External links

Official website
{{Argentine Banks Android (operating system) software Financial technology Personal finance Online financial services companies of Argentina Neobanks Companies based in Buenos Aires

Services

History

See also

References

External links