Winning in the Digital Banking Era: Insights from Visa’s New Principality Study

Amid an increasingly disruptive and crowded banking marketplace, I'm thrilled to present Visa’s new study, "Winning Banking Principality: How Customers Select Their Preferred Financial Institution".

This research marks our first-ever exploration focused on the Latin America and Caribbean region, providing exclusive insights into the current penetration of traditional banks and fintechs across markets.

Did you know that, on average, customers in the region are aware of 18 financial institutions and consider using 9 of them and are clients of 4? Or that there is a significant gap between principality and preference among Latin American banking customers?

The study delves into the concept of principality—defined as the financial institutions where consumers in the region concentrate most of their spending and payments—and assess how satisfied clients are with their banking service providers. Our report also highlights the key attributes driving customer acquisition and loyalty, as well as significant opportunities for financial institutions to capitalize on this pivotal moment.

The rise of neobanks and numerous app-based digital banks is transforming the financial industry into a fiercely competitive battleground. And as competition intensifies to achieve top of wallet status in this new era of digital banking, understanding evolving customer preferences and behaviors becomes essential for success.

I invite you to explore this unique study available in:

English: globalclient.visa.com/lac-principality_en
Spanish: globalclient.visa.com/lac-principality_sp
Portuguese: globalclient.visa.com/lac-principality_por