Financial inclusion in the Amazon interior

As we know, financial inclusion remains a major barrier in many regions of Brazil. This is the case in the Amazon region, where access to branches, ATMs, and even cash is scarce. In this scenario, the big question arises: how can retail help more people consume and participate in the formal economy without relying on traditional banking structures? How can digital accounts be an effective solution for these communities? Banking How can a Service for retail contribute?

With a presence in approximately 80 of the 150 municipalities that make up Western Amazonia, the retailer Bemol is well aware of the challenges of remote regions. After all, despite its strong presence in capital cities, it is in the interior of the forest , where almost no other company reaches, that it truly excels.

Thus, leveraging the already established customer relationship ecosystem to offer its own financial services and products emerged as a logical path for the largest retailer in the Northern Region to overcome the barrier of financial inclusion.

In this article, we discuss how Bemol makes use of its logistics expertise, combined with and technology Banking as a Service for retail Dock, to provide a complete financial experience for its customers and connect the multiple parts of its business to the financial environment.

 

Bemol: the largest retail chain in Manaus

Founded in 1942, Bemol is considered the largest electronics chain in the so-called Western Amazon, a region withpostthe states of Amazonas, Acre, Rondônia and Roraima. It currently has 117 units, with 37 physical stores and 47 pharmacies, in addition to 22 lottery shops, four markets, six distribution centers and a Bemol Saúde clinic.

Its website serves all of Brazil and offers products offered in physical stores, pharmacies, and various other services.

 

Retail Challenges: Lack of Banking Access in the Amazon

In Western Amazonia, outside of the capital cities and more developed urban centers, the presence of banks is practically nonexistent. The absence of branches and ATMs makes access to basic financial services difficult.

At the same time, logistical challenges mean that many municipalities are days away from major centers , hindering the circulation of cash. As a result, a large part of the population faces barriers to carrying out financial transactions.

This reality discourages consumption and limits the region's economic development. In this context, the search for solutions that expand financial inclusion has become essential.

 

Financial inclusion as a driver of retail

Without a bank account, many consumers are unable to make purchases or obtain credit, which significantly reduces the population's purchasing power.

Promoting financial inclusion in the region has become a key element in stimulating the local economy. By connecting more people to the financial system, it is possible to expand access to credit and boost commerce, benefiting both consumers and businesses.

 

How Bemol took the lead in the challenge of financial inclusion in retail

Bemol saw an opportunity to address the challenge of unbanked individuals by offering a complete digital account , a product of its own that did not depend on traditional banking infrastructure.

The company's extensive network of service points, present even in remote areas, guaranteed a strategic advantage: unlike most digital banks , which do not offer accessible means for cash deposits, the retailer already had a logistical infrastructure prepared to meet this demand.

With a focus on digital inclusion, in all the cities where it operates, even without physical stores, the company provides free internet access to facilitate customer access to its financial solution.

Another key differentiator was the consolidated database within the business ecosystem itself. With years of experience in providing credit, the company already acted as the first formal source of credit for many clients. This history allowed them to test and improve their financial operations with a better understanding of their customers' profiles.

Finally, to enable the expansion of digital accounts, Bemol has entered into a strategic partnership with Dock, specialist in payment solutions and banking.

 

Banking as a Service for retail: the Bemol experience

With the implementation of a digital account through Banking As a Service for retail, Bemol has transformed the financial experience of its consumers. But that's not all: expanded its role in the financial services market, since the account is not exclusive to its customers, anyone can open it.

To offer more benefits, the digital account allows for the payment of personal bills and deposits at all stores in the network, with extended hours, including weekends. The app offers the same functionalities as any digital account from other institutions, providing convenience and practicality.

With the debit card , users can shop at Bemol stores, as well as at pharmacies and supermarkets within the chain, and at other commercial establishments. As an added benefit, the account balance automatically earns bonus points every day, with a value exceeding the returns offered by many financial institutions.

 

How Dock contributes to accelerating banking and boosting retail with the Banking as a service

Companies like Bemol, who want to offer a digital account without diverting focus from their core business model, can count on the solution Banking da Dock, based on Banking as a Service (BaaS) for retail.

This model allows businesses from different sectors to integrate financial services in a simple way, without the complexity of creating a banking structure from scratch.

How the BaaS model works:

• The company hires a specialized platform, such as Dock;
• Through API integrations, it becomes capable of offering financial services, like a banking institution;
• The platform is adaptable, allowing you to create a complete digital account, with features such as bank transactions and even loans.

NBCC Talent Search's Executive Search Banking as a Service for retail Dock offers a robust technological infrastructure to meet the company's needs, including:

• Opening of a digital accounts complete, which allows banking transactions and even loans quickly and securely, adapted to the business;
•  Support for the company's entire treasury department, including account opening, processing and monitoring transactions, from authorization to settlement;
• Recharges and Vouchers;
• Guarantee of security and quality in financial operations.

In addition to the technological part, the Dock also supports its clients in regulatory issue, offering all the necessary structure to operate within the Central Bank's regulations, without the company needing to formally become a payment institution. This further facilitates the expansion of retail financial services.

 

Services offered by Bemol through Banking as a Service for retail Dock

To transform the population's financial experience, Bemol has a complete structure of Banking as a Service Dock. In this way, Conta Bemol offers:

• Prepaid virtual card;
• Daily bonus points;
• Payment of Bemol and any other bill;
• Loans directly in the app;
• Deposits and withdrawals in stores outside of banking hours;
• Partner Credit;
• Recharge cell;
• Online and in-store service.

 

Banking as a Service for retail: results that make a difference

The partnership between Bemol and Dock brought financial inclusion to remote areas of the Western Amazon, allowing local consumers access essential banking services, such as bill payments and store deposits, and expand your purchasing power.

This movement promotes participation in the formal economy, but also strengthens the retailer's business ecosystem, expanding its revenue streams. Check out some of the figures from Bemol's operations with Banking as a Service for retail:

• More than 470 thousand customers;
• More than 110 thousand active accounts.

Take your business to the next level with Dock! Offer your customers a digital account, expand access to financial services and products, and strengthen your market presence!

 

Banking as a Service for retail: what you saw in this article

• Financial inclusion is a challenge in remote regions of the Amazon, where access to banking services is scarce.
• Bemol, the largest retailer in the North Region of Brazil, used its vast network of service points to offer its own digital account and facilitate financial access.
• Bemol's digital account allows services such as bill payments, store deposits, and offers benefits such as bonus points on your balance.
• Through a partnership with Dock, specialist in payment solutions and banking, Bemol started offering a complete digital account.
• A Dock provides the integration of financial services via API, allowing companies like Bemol to offer a digital account without the need to create an infrastructure from scratch.
• NBCC Talent Search's Executive Search Banking da Dock meets various financial needs, such as transfers, payments and card issuance, with full regulatory compliance.