'We have the agility of fintech and the strength of a bank', says director of Ouribank

“Ouribank is constantly evolving, innovating and adapting.” This is the statement by Bruno Foresti, director of the bank, to summarize the institution's current moment, which was highlighted in an article on the portal Finsiders Brazil. The report summarized the story and addressed the change in position of the bank, which was founded in 1979 to trade gold, became a pioneer in home equity in Brazil, and later specialized in the foreign exchange market.

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'Fintech agility and the strength of a bank'

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Foresti defines Ouribank with the phrase: 'we have the agility of fintech and the strength of a bank'. In this regard, Ouribank continues to expand its offer of products and services and is focused on serving companies with revenues between R$ 30 million and R$ 300 million. “The objective is to help SMEs (or middle market) with products tailored to the needs of this audience. The central idea is to resolve the pain that these companies have in their relationship with large banks,” says the executive.

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According to him, SMEs like Ouribank's exchange services because of their flexibility and personalized attention. “They don't find an equal in large banks. Foreign exchange is a secondary business for these institutions, which privilege payments and credit,” says Bruno. For this reason, the exchange rate was the niche chosen by the bank to grow and, now, to leverage other offers.

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But all this without leaving behind tradition in the foreign exchange market, where the bank has been a reference for over four decades. “In the foreign exchange segment, we serve companies of the most varied sizes, from MEI to Corporate. From financial institutions to international merchants offering digital services in Brazil. We always work with a lot of embedded technology, trying to eliminate, as much as possible, the friction that international payments generate”, explains the director.

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Ouribank's exchange services range from buying currency to consulting, import and export financing, and foreign exchange hedging. According to the institution, in 2023, Ouribank had a 1.2% share of the exchange market in Brazil, transacting US$ 30 billion. The bank, with R$ 3 billion in assets and R$ 800 million in revenues, currently has more than 700 exchange correspondents spread across Brazil.

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Digital and integrated banking

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The logic is to offer more products in the same place, in an integrated way. In other words, to be a complete digital bank for customers who were already hiring exchange services. After all, offering credit to well-known customers helps reduce risks. “We are more than 500 employees focused on delivering the best customer experience, regardless of the vertical or channel of origin,” says Foresti.

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In addition to digital banking services, Ouribank has a Banking as a Service (BaaS) solutions hub that serves brokerage firms, companies specializing in remittances, traders, fintechs, financial institutions, and facilitators. “Our vocation is to provide all possible tools so that the customer, direct or indirect, is always placed at the center”, concludes Foresti.