Neobank IRIS launches in Colombia

Friday 11 June 2021 11:06 CET | News

Neobank IRIS has publicly launched in Colombia, according to Finance Colombia.

IRIS by Financiera Dann Regional is reportedly focused on the corporate and business sectors in Colombia. On June 2 2021, the Financial Superintendence of Colombia granted the new bank authorisation to operate in the digital banking sector with the approval of the savings section and its regulations. The first product of the neobank is a 100% digital business savings account, created after a detailed and rigorous market research process that included listening carefully over several months to understand the unmet needs of Colombian entrepreneurs and finding a way to solve them, always having the user experience as the centre of the strategy. Free transactions, interest bearing account, and no maintenance fee.

One of the attractions of the IRIS savings account is the free interbank transactions depending on the balance that the company manages. For example: Every account receives 50 free transactions, with a balance up to USD 50 million the number rises to 100, with USD 250 million it receives 200 transactions and an average balance of USD 500 million gets 500 free transactions. According to projections, IRIS expects to gain 6,000 business customers and carry out operations in excess of USD 80 billion pesos during the first year of operations.

IRIS was financed and structured through Financiera Dann Regional Compañía de Financiamiento which has nearly 25 years of experience in various sectors such as construction, infrastructure, telecommunications, commerce, and education.

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Keywords: digital banking, product launch
Categories: Banking & Fintech | Online & Mobile Banking
Countries: Colombia
This article is part of category

Banking & Fintech