A 100% digital bank is not one that has an application to carry out operations through mobile devices. A true bank of the digital age has, in addition to an efficient platform, products and services designed for the needs of users of the new normal. Something like the set of benefits that Hey Banco has.
Guaranteed credit cards that do not require prior credit experience, specific cards to make electronic purchases, debit cards to have cash in a network of 3,500 ATMs, rewards programs and the possibility of channeling savings into a global fund are some of the benefits that Hey Banco already offers to its more than 150,000 active clients.
“We are building this digital experience in Mexico and we have accelerated growth,” Manuel Rivero Zambrano, CEO of Hey Banco, explained in an interview. “We will become a very relevant bank, being focused on the client to bring the technology of the future.”
Hey Banco is part of Regional SAB de CV that already has a recognized track record in the banking sector with Banregio. In fact, it was developed in the innovation laboratory of said financial institution, but during the first months of 2020 it operated as an independent business unit in view of the growing acceptance of users, mostly made up of professionals and independent workers.
Hybrid solutions
Hey Bank has improved the experience in digital banking services. Its app is available on iOS, Android and AppGallery. Through it, a bank account can be opened in less than five minutes in a totally digital experience.
Now, the institution recognizes that although there are transactions that move in the electronic field (and offers all the options), the truth is that there are many operations that are required in the physical world. That is why it has designed a mixed experience: a set of banking services that travel between the electronic environment and the physical space.
For example, if the user requires cash, they can do so, free of charge, at the ATM network that we have already mentioned. You can also go to bank correspondents —7 Eleven, among others— to make payments to credit cards or deposits.
In the same way, you can make interbank transfers and pay or request payments through CoDi, which is activated with QR codes.
Now that if it is about making digital purchases, you have the high security electronic card to move freely in the world of ecommerce . If you want to pay directly in establishments, you have credit or debit cards, printed on plastic sheets.
Starting this May 31, Hey Banco will officially launch rewards for purchases with a debit card; Investment funds; secured credit card; relaunching your traditional credit card; its credit card rewards program and its 2021 collection cards. Its CEO explained to us the value of these products, which we will review below.
Guaranteed credit card
At Hey Banco you can get a credit card even if the applicant does not have a credit history, thanks to its guaranteed option, which is activated as follows: the user deposits from 1,500 pesos as a guarantee and the bank will issue a card that you will have that amount and up to an additional 20%. If after one semester the client maintains a positive record in handling his card, then the bank evaluates his profile to offer him a Hey Traditional Credit Card.
Neither card handles annuity, both handle very low interest rates and offers reports with suggestions for use for better management.
Cash rewards for your account holders
Within Hey Banco’s innovation discourse is the creation of a benefit system to recognize the good use of the tools it offers to its clients, basically through cash rewards, which becomes an immediate value for users —bye bye to systems in which you have to accumulate millions of “points” for payments or purchases.
In addition, by opening promotion, it will offer 5% cash rewards on all Credit Card purchases for the next three months.
Your future: grow and export
Saving and investing in Hey Banco is also possible. Its returns are among the most attractive in the market, as it handles a rate of up to 6.5% with investments ranging from 5,000 pesos – in its Inversión Hey product – to participation in a variable income fund that invests in companies in the most developed economies. of the world: Hey Global Fund, which you can enter from with 1,000 pesos.
The bank’s growth has been intense in the last 18 months, as well as its projection for the following years. So the next steps for the institution, in the next five years, according to Manuel Rivero Zambrano, its general director, will be its interconnection with the financial system through APIs that are already well advanced, as well as going beyond borders. Mexican.
(At some point in the next five years) “We will export this digital experience to other countries that use our same protocols. We will share with others this network that we are building ”, concluded Rivero Zambrano.
