Banco Macro buys 50% of Banco Sáenz and reinforces its digital ecosystem

The entity reported that it will acquire half of the share package of Banco Sáenz, while the remaining 50% will be in the hands of Fintech Digital LLC. The operation, which still must be approved by the Central Bank, is part of a process of transformation of the sectorwhere traditional banks seek to gain ground in the fintech world.

The movement adds to the alliance sealed in January with Telecom Argentina to enter Personal Paythe company’s digital wallet, also with a 50% participation. With this double play, Macro aims to integrate traditional financial services with digital solutions, expanding your reach to new customer segments.

As the entity explained, The incorporation of Banco Sáenz will allow Personal Pay users to access more financial products under a structure that will maintain operational and commercial independence from Banco Macro, but with greater agility, in line with the dynamics of the fintech business.

“The operation ratifies our commitment to the country and to financial innovationpromoting a model that combines the security of the banking system with the dynamism of digital ecosystems,” said the president of Banco Macro, Jorge Brito.

Along the same lines, the CEO of the entity, Juan Parma, highlighted that the acquisition represents “a key step in building a business model that integrates the ease of use of a digital wallet with an expanded offering of financial services.”

From Personal Pay they also highlighted the strategic scope of the agreement. “This milestone reinforces the combination between the techco universe and bankingwith the aim of redefining the financial experience with faster, safer and more personalized solutions,” said its CEO, Martín Heine.

Until the regulatory approval process is completed, Banco Sáenz will continue to operate independently and there will be no immediate changes for wallet users.

With this operation, Banco Macro deepens its commitment to a hybrid scheme between banking and fintech, in a context where competition for digital services intensifies and redefines the map of the financial system.