As a leading financial institution, we are thrilled to announce the launch of Daxsen Bank, an innovative digital bank that aims to revolutionize the banking sector. Our structure is based on the “New Bank” methodology, which promises to bring operational and transactional costs down to a minimum.
Our digital bank will offer accounts at no cost and improve banking operations through the management of low-risk online products and services such as savings accounts, salary advances, and confirmations. We believe that this work system will enable us to double our profitability and solve the problem of Ecuadorian banking by reducing the high operating costs that have caused the closure of 169 agencies over the last 4 years.
Our goal is to become a benchmark for digital banking, similar to Nubank, which is considered the largest digital bank in the world outside Asia and the largest techno-financial company in Latin America. We plan to achieve this by having a few branches, a credit factory that operates without time limits with state-of-the-art technology, and a strong increase in transactional products. Our objective is to generate disruptive products and services for international investors and achieve low-cost fundraising through the massification of clients.
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The project will begin in 2022 and will have two phases. The first phase will take place in our first year of operation and will focus on attracting local clients and promoting our products. The second phase will begin in the second year of operation and will be aimed at expansion, as we seek to generate correspondents in different countries, acquire portfolios from other financial institutions, and expand our transactional network to provide services to third-party institutions.
We have developed an array of innovative products that promise to disrupt the industry. These include a payment button that will allow paying for products or services of large amounts, with different authorization models and securities, on multiple websites or apps using funds available in any bank account, without needing to have a card. Additionally, we will provide traditional services adapted to digital operations, such as debit cards, credit cards, and merchant cards, with which any brand will be able to have its own credit card issued by a financial institution. We will also implement a system of OTPs or one-time passwords via email, SMS, and app to provide a second authentication factor in critical transactions.
At Daxsen Bank, our mission is to bring banking operations to the digital world to reduce costs and thus offer better products to our customers. We look forward to welcoming you as a valued customer and showing you the benefits of banking with us.