Digital bank Inter, originally from Brazil, has made a strategic move to expand into the US market, setting its base in Miami instead of the more conventional locations like New York or San Francisco.
COO Ray Chalub, who relocated to Miami with his family two years ago, emphasized the importance of the city for Inter’s operations in the United States.
“Miami is our home and Inter’s home,” Chalub stated, highlighting his decade-long tenure at the bank, during which he witnessed the transformation of Inter from a modest operation serving a mere thousand customers to a formidable digital-first organization.
Chalub recalled his pioneering role in the company’s digital implementation, particularly in secure digital onboarding, which was groundbreaking at the time.
This early innovation laid the groundwork for Inter’s current customer base of tens of millions and instilled confidence to expand into international markets.
In selecting Miami for its U.S. headquarters, Chalub articulated that the city is a natural fit for Inter due to its global characterization.
According to him, Miami stands out as a business-friendly, multicultural epicenter with a perfect geographical location that connects Latin America, the West Coast, and Europe.
With nearly 60 employees in Miami contributing to a global workforce of 4,000—40% of whom specialize in technology—Inter aims to deliver extensive banking solutions through its super app.
The app merges traditional banking services with features catering to users’ daily lives, aiming to establish itself at the center of customers’ financial activities.
Chalub shared that the company embodies a unique blend of being a public entity built for longevity while also maintaining a startup mentality.
This combination allows Inter to introduce innovative products while ensuring security and financial stability.
The Inter app allows users to set up a free checking account, transfer funds, use debit and credit cards, and invest in stocks and ETFs without brokerage fees.
However, Chalub emphasized that the app’s ambitions extend well beyond standard banking offerings.
He outlined a vision where the app would facilitate everything from mortgages to purchasing gift cards, and from making international transactions to availing discounts at major retailers.
One of Inter’s standout products in the U.S. market is its credit card, which features a buy now, pay later service.
Unlike the typical buy now, pay later models that spread costs over just a few weeks, Inter’s approach extends the payment period to four months, allowing for significant purchases without incurring interest over that time.
Chalub described this offering as particularly appealing, especially for those making larger investments, like purchasing a new smartphone or planning a vacation.
Additionally, the credit card experience is enhanced by a chat interface in the app, allowing customers to manage payments and set up installments in a more intuitive way, resembling popular AI tools.
Despite the promise of these innovations, Chalub recognized obstacles in entering the U.S. market, particularly in educating consumers about the bank’s unique value proposition.
The main challenge lies in effectively communicating the benefits of their offerings, such as no-interest installment payments that many potential customers may not fully understand at this time.
Chalub is nonetheless optimistic about Inter’s potential, as the company aims to reach 60 million customers globally in the coming years, with the U.S. market playing a pivotal role.
He concluded with confidence, stating, “We’ve built something that can serve Americans at every stage—whether they’re building credit, investing, sending money abroad, or just looking for ways to save.”
For Chalub and his team, Miami serves not only as a headquarters but as a launchpad for their future growth and expansion, fueled by the city’s talent and ambition.
image source from：refreshmiami
