Banco Daycoval
“Can a mid-sized Brazilian corporate-credit bank scale by digitizing SME onboarding and credit while staying conservative on capital?”
Founded1968
HQSão Paulo, Brazil
IndustryBank / National
The story
Banco Daycoval is a 57-year-old Brazilian mid-sized bank focused primarily on corporate credit, with secondary retail businesses in payroll-deductible loans (consignado), auto financing, FX (Daytravel / DayPay Remittance), and asset management. Over the past decade it has progressively digitized through Dayconnect (digital banking) and digital PJ account opening. Its embedded-finance posture is that of a regulated bank — it issues its own credit cards and consignado cards in-house and partners with Generali for credit-life insurance, rather than relying on BaaS vendors.
Product timeline
0
Launch of payroll loan and auto financing· lending
0
Cayman branch opens; acts as BNDES financial repass agent· banking
0
IPO and new Paulista headquarters· ipo
0
Launch of Dayconnect digital platform and Digital Credit for Companies· banking
1968
Beginning of activities in Brazil with Daycoval DTVM and Valco Corretora de Valores· banking
1989
Becomes Banco Daycoval S.A.· banking
2024
IFC-led $460M syndicated loan to fund SME lending with focus on female entrepreneurship and Legal Amazon· lending
Regulated entities
3
regulatory licences held by Banco Daycoval
Licence types, jurisdictions and registered entities are in the Embedded Finance Index report.
The stack
5 layers disclosed in Banco Daycoval’s embedded-finance stack
Payments / PSP
Daycoval Credit Card (self-issued)Cartão de Crédito Consignado Daycoval (self-issued)Cartão de Benefício Consignado Daycoval (self-issued)
Banking / BaaS
in the full report
Card issuing
in the full report
Lending
in the full report
FX & payouts
in the full report
Accounting gap: significant
13 more providers across 4 layers, with confidence-scored evidence and source URLs, are in the Embedded Finance Index report.