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Itaú Private Bank

“Can Latin America's largest private bank build a global, cloud-native wealth-and-spend platform for UHNW clients who live between LATAM, the US, and Europe?”

Founded2010
HQSão Paulo, Brazil (with offices in Miami, Zurich, Bahamas, Nassau)
IndustryBank / National
The story

Itaú Private Bank is the offshore private-banking arm of Itaú Unibanco, Latin America's largest private financial institution, serving LATAM UHNW clients through hubs in Miami (Banco Itaú International), Zurich, Nassau, and Luxembourg/Portugal (Itaú BBA Europe). Its recent embedded-finance move was the 2022 launch of Itaú Global Wallet — a multi-currency Mastercard-branded card/wallet built on Rêv Worldwide's issuing platform — which extends private-banking accounts into a spend-anywhere digital product for internationally mobile clients. The Zurich subsidiary has emphasized digital transformation, publicly citing that it runs its core banking system in the cloud.

Last 12 months
—
Product timeline
2010
Itaú Private Bank Zurich (Swiss branch) established as an offshore hub for LATAM UHNW clients· banking
2022
Launched Itaú Global Wallet — a multi-currency (USD/EUR) digital wallet + Mastercard debit product for Private Bank clients in Miami, built on Rêv Worldwide's platform· card
Regulated entities
4
regulatory licences held by Itaú Private Bank
Licence types, jurisdictions and registered entities are in the Embedded Finance Index report.
The stack
6 layers disclosed in Itaú Private Bank’s embedded-finance stack
Banking / BaaS
Banco Itaú International (in-house)Itaú BBA Europe S.A. (in-house)
Card issuing
in the full report
Card network
in the full report
Lending
in the full report
FX & payouts
in the full report
Investing
in the full report
Accounting gap: none
13 more providers across 5 layers, with confidence-scored evidence and source URLs, are in the Embedded Finance Index report.