“Can a liquidated Brazilian digital bank wind down 6M+ customer balances cleanly through the FGC guarantee process?”
Will Bank (Will Financeira S.A. – CFI) launched in 2017 as a Brazilian digital bank focused on credit cards, digital accounts and Pix/Open Finance payments aimed at underbanked consumers. By March 2026 the company was placed in extrajudicial liquidation by the Brazilian Central Bank, with the FGC (Fundo Garantidor de Créditos) coordinating advance guarantee payments to roughly 6 million customer-creditors. The business is no longer operating as a going concern; the app's primary function today is the FGC guarantee claim flow.
Will Bank discloses Will Financeira S.A. – CFI (in-house) as its banking provider, according to the Embedded Finance Index 2026.
Will Bank does not disclose a bank charter of its own; its banking services are provided through Will Financeira S.A. – CFI (in-house).
Will Bank moves money over Pix.
Will Bank's cards are issued through Will Financeira S.A. – CFI (in-house).
Will Bank's lending and capital products are provided by Will Financeira S.A. – CFI (in-house).
Will Bank connects to bank accounts through Open Finance Brasil (in-house participant).
The Embedded Finance Index 2026 maps 5 layers in Will Bank's stack: Money movement (Pix); Banking / BaaS (Will Financeira S.A. – CFI (in-house)); Card issuing (Will Financeira S.A. – CFI (in-house)); Lending (Will Financeira S.A. – CFI (in-house), Cartão de crédito Will and Parcelamento de fatura); Open banking (Open Finance Brasil (in-house participant)).
Will Bank is founded in 2017 and headquartered in São Paulo, Brazil.
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