Wilobank (Uilo Bank)
“Can a BCRA-licensed bank subsidiary serve as the regulated financial infrastructure backbone for Ualá's multi-million user fintech ecosystem in Argentina?”
Originally founded in 2017 as Banco Wanap / Wilobank, Argentina's first fully digital bank with BCRA authorization from 2018, the company operated as a standalone neobank focused on savings accounts, debit/credit cards, and fixed-term deposits. In 2022, Ualá's group holding (Bancar Technologies Limited) acquired 100% of the bank and rebranded it Uilo (Ualá Bank S.A.U.), transforming it from an independent neobank into the regulated banking backbone of the Ualá fintech ecosystem. This acquisition gave Ualá — previously a PSP and non-financial credit provider (PNFC) — a full bank charter, enabling broader product expansion including loans, investments, insurance, and dollar accounts, all delivered through the Ualá app.