In Argentina of 2025, money no longer passes by a bank. The Relationship of users with finance is fragmented, multichannel and deeply digital. According to the report, The average banking Argentine has accounts in 2.7 entitiesand among those who use Fintechs or Neobancos, that number amounts to 3.5. The Multibancarization It is no longer an exception, but the new standard. 86% of users operate with more than one institution.
This is revealed by the recent study “Challenges for financial players in Argentina”, Prepared by the VML consultant, which analyzes the habits of more than 1,500 connected people over 18 years.
Payment market, the ecosystem star
Among the chosen platforms, Payment market dominates with 81% of penetration among banking. They follow him Orange x (32%), Pay staff and Uláthat already occupy relevant spaces, especially in young audiences and with consolidated digital habits.
However, when it comes to defining your main bank, Users continue to choose traditional bankingmainly for his amplitude of products, path and accompaniment capacity throughout the life cycle.
“In Argentina, users are very receptive to Fintechs and Neobancos, but mainly is still mostly in traditional banks,” explains Julio Pedrazuela, regional director of Research in VML.
The digital is no longer differential, it is mandatory
The Banking app It is the main contact channel: 84% Users use it weekly. This attribute – the possibility of managing everything from the cell phone – is the most valued when choosing the main bank, even above trust and human treatment.
However, the study warns Digital experiences begin to comfortand that true competition must focus on Products, benefits and personalized treatment. Today, near the 60% of users qualify with 9 or 10 points The apps of their banks, without great differences between entities.
More products, more demands
Multibancos users have a more sophisticated profile: they hire more products, especially Credit cards (72%)savings and loan accounts. In addition, almost half of the population has Departmental Cardsmainly by Discounts (54%) and The ease of granting in store (28%).
The report also reveals that 28% of Argentine Internet users are not yet bankingmainly by distrust (25%), Lack of need (30%) and perception of High costs (20%). This segment is mostly feminine, young and low income.
What Argentines are looking for in their bank
When the users are asked what attributes more value in their ideal bank, the Ranking is leading digital management from the appfollowed by Trust, The ease of operationhe Human treatment and the Credit offer. Unlike other countries in the region, in Argentina the trust It appears in the top positions, even above the “number of branches.”
“The Argentine user wants digital efficiency, but also seeks support, closeness and coherence between channels,” says Ronny Weter, general director of VML Argentina strategy. “There is a hybridity in the head of the local consumer: on the one hand, security and human treatment; on the other, agility and zero hidden costs.”
Although most are shown in accordance with their main bank, 2 out of 10 users would change their entity if you found a better option. Entities such as Galicia, Santander and Mercado Pago lead the best linking indices, but the study warns that Fidelity is increasingly volatile.
Source: Ambito
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