ICICB Group Plans Digital Bank for Brazil

The ICICB Group, based in Dubai, plans to enter Brazil’s expanding digital banking market, according to a press statement issued on Friday (Jan. 28).

“This new phase of innovation and reliability will support the nation’s top institutions and industries to promote business,” the company said. “The public will benefit from easy, fast and secure fund collection globally. The anticipated launch date is the second half of 2022.”

Customers in Brazil may expect a “full-spectrum” of services from ICICB Group, starting with balance conversion from one fiat currency to another, as well as crypto exchange, decentralized crypto wallets, and possible investments in lucrative companies.

The company’s objective includes “high degrees of process automation and web-based services”, and also APIs that will allow the establishment of cross-institutional products and transactions.

Businesses may use big data and AI to better foresee future trends and developments, as well as the motivations and goals of their ideal customers, according to the ICICB.