In 2017, Banco Bmg – one of the most traditional financial institutions in Brazil – decided to take a bold step: to launch a complete digital bank to serve a new generation of customers. There was an aggressive deadline to turn this idea into reality. Raro Labs was chosen to structure and develop the platform from scratch, adopting agile methodologies to ensure delivery on time.
Build from scratch, in record time, a complete digital bank with all essential features, including: Onboarding (100% digital account opening) - Digital checking account - Bank transfers (PIX, TED, and TEV) - Bill and tax payments - Investments
Raro Labs not only delivered the digital bank on time but also became a strategic partner in Bmg's digital transformation, starting to operate in core banking and various new modules over the following years. Among the contributions of the team, the following stand out: Development of the native mobile applications (iOS and Android) for the digital bank Meu BMG - Implementation of a Backend for Frontend (BFF) integration layer connecting the app to the bank's core banking system - UX/UI design focused on providing the best digital experience for customers - Ideation and implementation of the first onboarding process via chat, using the virtual assistant Duda - Development of the first banking chatbot capable of performing complete financial transactions - Continuous evolution of the platform, with improvements and new features added to the digital bank over 8 years of partnership
The project achieved significant results and paved the way for accelerated digital transformation at Bmg: - Successful launch on time: the digital bank was delivered within the established schedule. - Innovation beyond the initial scope: development and delivery of Duda, the first transactional virtual assistant of a Brazilian bank. - Market recognition: in 2020, Banco Bmg received the award for best digital onboarding in the Banks category. - Exponential growth: in 2022, the digital bank surpassed the mark of 10 million customers (up from about 3.5 million at the start of the project). - Agile culture implemented: the adoption of agile methodologies accelerated the delivery of new products and fostered continuous innovation within teams. - New revenue stream: the digital channel has established itself as an important revenue generator for the bank. - Modernization of legacy systems, bringing more flexibility, speed, and cost savings: • Migration of the database from Sybase to Oracle • Refactoring monolithic systems in VB (Visual Basic) to a microservices architecture • Automation of approval workflows using the Camunda platform
