Neobanks and the next step: Ualá
Andrea Arrébola, Head of Payments at Ualá in Argentina, talks about the real change the bank is bringing to peoples’ lives by promoting financial inclusion in South America.
The demographics of neobank users are often surprising; it is not only young people who are signing up, but also older age brackets. What is the standard profile of your target customer? What has been key to your customer acquisition success?
Uala is a product designed for everyone. We have identified users of all ages in both markets. For instance, in Argentina more than 2.7 million cards have been issued, where 32% of them are users between 18 and 23 years old and more than 19% are people over 40 years of age and 65% of them are unbanked users. In Mexico, Ualá has issued more than 100,000 cards in just six months of operation. The 42% of users are between 18 and 23 years old and 14% are over 40 years old.
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