“Can Brazil's largest private bank run a fully-owned digital-native neobank on top of its own charter?”
next is the digital-bank arm of Banco Bradesco in Brazil, operated by Next Tecnologia e Serviços Digitais S.A. as a banking correspondent of Bradesco. The stack is native to the Bradesco group — accounts, cards, credit and payments all sit on the parent bank's rails rather than on third-party BaaS. next's differentiation is UX plus early adoption of Brazil's Open Finance regime.
next discloses Banco Bradesco (in-house) as its banking provider, with Banco Bradesco S.A. as its sponsor bank, according to the Embedded Finance Index 2026.
next does not disclose a bank charter of its own; its banking services are provided through Banco Bradesco S.A..
next processes payments through Banco Bradesco (in-house). Disclosed money-movement rails: Pix.
next's cards are issued through Banco Bradesco (in-house).
next's lending and capital products are provided by Banco Bradesco (in-house).
next connects to bank accounts through Open Finance Brasil.
The Embedded Finance Index 2026 maps 7 layers in next's stack: Payments / PSP (Banco Bradesco (in-house)); Money movement (Pix); Banking / BaaS (Banco Bradesco (in-house)); Card issuing (Banco Bradesco (in-house)); Lending (Banco Bradesco (in-house), Empréstimos and Financiamentos); Open banking (Open Finance Brasil); Sponsor bank (Banco Bradesco S.A.).
next is headquartered in São Paulo, Brazil.
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