BTG Pactual: Expanding Their Investment Banking Products with US Banking for Brazilians

BTG Pactual, Latin America’s largest investment bank with over $300B in assets under custody, recently launched US banking and investment products for their retail clients based in Brazil. There is no shortage of demand for these products in Latin America, with other financial service companies also offering US banking products to their customers.

With the launch of BTG Pactual’s new products, they now allow their retail clients to open US accounts in the same platform as the local currency accounts they already provide. This enables their clients to invest in US markets, hold and spend money in USD, and instantly move money between accounts. By unlocking new investment opportunities and allowing clients to easily spend or re-invest money from US bank accounts, all from a single interface, BTG Pactual further solidifies itself as the premier investment bank in Latin America.

BTG Pactual knew the demand for the product was there, but bringing this product to market successfully required finding the right partner to provide the product functionality and US compliance expertise.

BTG Pactual began searching for the right partners and through this search found Synctera. In the initial conversations the two companies found that they shared a common goal of building financial products with a strong foundation of compliance, a focus that is necessary to scale a successful banking product.

Through the partnership with Synctera, BTG Pactual was able to build and launch a new set of products, including a US bank account, USD spend card, and the ability to seamlessly move money between local and US accounts. Synctera provided BTG Pactual with many of the components needed to launch these products, including:

• Easy-to-use APIs and tools that provide access to the necessary banking technology and services
• A connection with Regent Bank, Member FDIC, a sponsor bank with experience in opening accounts for international consumers
• The compliance framework, expertise, and experience required to safely offer US banking products to consumers outside of the US

Just 6 months after formalizing the partnership with Synctera, BTG Pactual launched their new suite of US banking and investment products. These products include:

• US bank account to store money and access US payment rails
• US debit card to spend while traveling in the US or to save money on cross-border fees with USD purchases
• US investment account to buy and sell US equities

These products have already seen consistent adoption from BTG Pactual’s retail client base.