Brazil's Cielo says it will launch digital banking services

SAO PAULO (Reuters) - Brazil payment processor Cielo SA said on Monday that it will launch digital banking services in October, joining a growing group of companies challenging the country's long-established bric and mortar banks.

Cielo said it would target small businesses, but that it would also make its digital banking services available for personal accounts. In launching such an online bank, Cielo would compete with companies including startups Nubank and Banco Inter SA

(Reporting by Aluísio Alves; Editing by Christian Plumb)

You May Also Be Interested In

• German unemployment falls unexpectedly in June
• Bird nests of fibre-optic cables show war's impact on Ukraine
• Analysis-Ferrari and BMW join Tesla, China in switch from copper to cheaper aluminium