By Matheus Piovesana
São Paulo, 05/10/2022 – Bradesco is starting to offer its individual customers the possibility, when they make a Pix, to debit the amount at the bank itself or at other banks where they are account holders. The new feature uses open finance, a financial information sharing system implemented by the Central Bank.
What makes the function possible is the payment initiator, a tool created by the Central Bank within open finance that allows customers to “authorise” a bank to make payments for them, which reduces the steps involved in online transactions. Bradesco is one of the few institutions in the country authorised to act as an initiator.
The bank is the first to offer this possibility for credit to recipients at any financial institution. To use the function, the user accesses the Pix area in the Bradesco app and chooses to debit the amount from the accounts they hold at other institutions. They are then directed to the other bank’s environment, where they authenticate and confirm the transaction.
“Implementing the new functionality will make it even more convenient for our customers to make their transfers via Pix,” says Antonio Daissuke, Bradesco’s current account and cash management director. “The novelty is yet another attraction that encourages adherence to open finance.”
With the payment initiator, banks have reinforced functions that allow a kind of financial management without customers leaving their apps. At the beginning of September, Banco do Brasil started allowing customers to transfer funds from accounts at other banks to BB, also via Pix, directly from the public bank’s app, for example.
Bradesco will release the new functionality to customers gradually. The bank also says that the customer will give authorisation for each transaction they make.