Banking is changing in the world and Argentina is no exception. In this sense, while the Latin American entities are reviewing their digital strategies to reduce costs and increase the access of the unbanked through digital solutions, there are other players that are appearing to compete in this market.These are the digital banks that offer their services through online channels and do not have physical branches. The sector showed great growth this year, despite the recession.According to data from the Argentine Chamber of Fintech, the industry records an annual growth rate of 110% and already employs almost 6,000 people directly and more than 90,000 indirect.In addition, the entity accounted for some 133 companies in the sector, some of which received foreign investments and exported services to other regions of Latin America, with a total transaction volume of US $ 6,000 million. In this regard, the Fintech Moni raised US $ 4.5 million from the World Bank; while Ualá won US $ 34 million from Goldman Sachs and tycoon George Soros. 123Seguros received US $ 3 million from Alaya Capital and the Mercado Libre investment fund."The great change we are witnessing today is the centrality of the customer experience as the axis of all financial businesses, and this client does not differentiate if the one that meets their needs is a traditional bank, a digital bank or a fintech", explains Juan Pablo Bruzzo, president of the Argentine Chamber of Fintech, to iProUP."Their priority is to have an agile, practical, accessible service, which means not doing eternal queues, completing extensive forms or spending long minutes in a telephone communication." That is the great challenge for us as a fintech and for the rest of the players of the financial market ", completes.Digital bankingWilobank has been the first 100% digital bank approved by the Central Bank. To date, it has 24 thousand customers and estimates to reach 100 thousand by the end of 2019.Its main shareholder is the businessman Eduardo Eurnekian and they participate in the shareholder company Guillermo Francos, president of Wilobank; and Juan Carlos Ozcoidi, executive director of the firm."We differentiate ourselves from traditional banking in many ways," Francos explains to iProUP. He adds: "Conceptually, we are a bank with a lot of technology and little physical infrastructure and human resources, our cost is very low, that's why we can offer cheaper products, and we remunerate the captive savings of our clients, something that other entities do not they can do".56% of its users are people between 30 and 50 years old, while those under 30 represent 33% of their portfolio. Those over 50, the remaining 11%."Our bank has been operational for five months and we are in a phase of stabilization of the platform and its digital components," explains Francos, for whom the barrier they must overcome is that of an increasingly precise, efficient and fast operation.For the manager, the clients value the speed of the process of registering the account, the remuneration of the savings bank funds (25% per annum on the daily balance) and that the debit and credit cards are contactless. It also adds the ease and convenience to enter without forms or queues in physical branches.For the next few months, Wilobank plans to launch a savings account for minors with debit cards and credit cards with minimum amounts for those who do not currently qualify in the banking system, so they can start their credit history.MicrocreditsWenance is a fintech company focused on financial products for individuals. In 2014, it began operations in Argentina and currently has an active portfolio of personal loans in excess of $ 1,200 million and more than 80,000 active clients.Since its inception, has been awarded more than 200,000 credits for more than $ 1,900 million. In 2017, Wenance became the first Argentine Fintech to launch a public trust for personal loans, of which it has issued two series in the capital market, and has already started operations in Uruguay.In October 2018, it launched Welp, a multiproduct financial platform, thus inaugurating a new category to facilitate the financial life of people. It also managed to be the first fintech of Argentina to land on the European continent, starting its operations in Spain."Considering our international expansion plan, our challenge is to reach 250,000 clients and consolidate ourselves as a global fintech," anticipates Alejandro Muszak, CEO, founder and sole shareholder of Wenance, to iProUP.According to the executive, 35% of its clients have between 30 and 40; 25% have between 40 and 50; and 20% have between 20 and 30. The bands of 50-60 and more than 61 represent 10% each. Regarding gender, 56% correspond to men and 44% to women.As a differential, the executive details that they have specialized technology in risk, which allows the fair evaluation of each user. This means that they are more inclusive when accepting a client regarding the Veraz score. In addition, they reward good credit behavior and provide educational content so that they can improve their profile.Include the unbankedThe Argentine digital banks are clear at the moment of affirming that one of their main purposes is to be able to include the banking system to those people who are out today for different reasons."For this we develop products that facilitate access to credit for a sector that, although it has a bank account, was never served by traditional banking and even less had the benefit of credit, perhaps because it did not have a Veraz score. higher than 500 or not having such a high income, "Muszak explains to iProUP."We look at people, we understand their financing needs and we lend them to them As that person becomes a client, we evaluate them and as long as they comply with their payment obligations, we grant them greater benefits in amount, term and rate. that the best way to include it is just giving it credit ", adds the executive.By 2019, the firm contemplates, among several initiatives, the disembarkation in Mexico and Brazil, as well as the launching of a credit card.Everything to growInternet penetration in Argentina is almost 80% according to World Stats, leading the region. Behind are Chile, with 77%; and Ecuador, with 67%.In addition, 88% of Argentines connect at least once a day to the Internet and seven out of ten do so via cell phone, in a trend that grows and drives the demand for mobile data.With these figures, it is clear that digital banks are not facing an obstacle linked to connectivity to add more customers. And because people need to finance themselves, the credit demand is sustained.Regarding how digital banks will evolve in Argentina, in 2019 two new brands will appear.One of them will be Open Bank, owned by the Santander Rio Group. Ana Botín, president of the Santander Group, announced at the end of September that it will expand to other countries. It would be launched in Argentina in June.In Spain, this 100% digital bank grew 20% in deposits, up to € 9,000 million, and 26% in customers, which has already exceeded one million users. As a novelty, in that country it allows to use from the same interface not only Santander's accounts, but also to consult balances and carry out operations of products of other entities.The other entity that will debut in 2019 will be BruBank, created by Juan Bruchou, former director of Citibank. This bank will only work through smartphones and got a "complete" approval from the Central Bank, an advantage it plans to use as a differential with respect to other fintech.In this context, and in the face of the evolution of these proposals, Muszak emphasizes that the focus will be given by the usability of the platforms, as well as the multiproduct feature so that people can access multiple financial products in one place in a simple and efficient.