Iti Itaú
“Can a legacy Latin American banking giant defend its franchise against neobanks by industrialising a digital sub-brand (iti) on cloud-native core infrastructure while opening regulated APIs to the partner ecosystem?”
Itaú Unibanco is the largest private bank in Latin America, formed from the 2008 Itaú/Unibanco merger. iti is its digital-native sub-brand launched in 2020 to compete with Brazilian neobanks (Nubank, C6) on a free-account, mobile-first proposition. Strategically, Itaú has industrialised its embedded-finance stack by buying modern core-banking infrastructure (Pismo powers iti's digital accounts, payments and wallet) while retaining its own banking licence, card issuing and lending. The Conexão Itaú partner programme and devportal.itau.com.br expose Pix, FX, account statement, PISP and Corban Digital APIs to ERPs and software houses — positioning Itaú as a regulated BaaS-style distributor on top of its own balance sheet.