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Latin American banks are beginning to look at SMEs and entrepreneurs not only as customers, but also as a driver of innovation. In this context, Itaú launched Itaú Emps, a digital laboratory that functions as an experimental environment to design and test financial solutions tailored to the entrepreneurial segment. The project, which integrates generative AI and big data to offer contextualized advice in real time, marks a structural change in the relationship between banks and small businesses (source: Iupana, 2025).

A digital laboratory for entrepreneurs

Itaú Emps operates as an independent application, but connected to the Itaú Empresas ecosystem, allowing it to evolve quickly and transfer learnings to the traditional operation. Its logic is clear: test, iterate and scale. The bank is initially concentrating the initiative in Brazil, but its regional network – with a presence in Chile, Argentina, Paraguay and Uruguay – offers fertile ground for expansion where entrepreneurs represent a large part of the productive fabric.

The proposal responds to a historical gap: the SME segment has been underserved by traditional banking, despite concentrating millions of businesses in Latin America.

Gen AI and data at the service of the entrepreneur

Among Itaú Emps’ core innovations is the incorporation of generative AI for financial advice. This technology enables:

  • Analyze cash flow and sales in real time.
  • Customize recommendations on credit, card usage and product management.
  • Provide conversational experiences based on the customer’s financial information.

The unit relies on Itaú Intelligence, which combines advanced language modeling (LLM) with a strategic asset: “tens of petabytes of data collected over the years“. That proprietary database, together with the conglomerate’s security, gives it a competitive advantage over other financial institutions.

The fintech ecosystem and the regional opportunity

The launch of Itaú Emps takes place in a context where the Latin American fintech ecosystem grew more than 300% between 2017 and 2023 (source: IDB, Finnovista). More than 50% of investment in financial technology is oriented to financial inclusion, with a focus on SMEs and entrepreneurs.

Other players are also moving forward:

  • Fintechs in Mexico and Colombia already use generative AI for microcredit and alternative scoring.
  • BBVA and Bradesco experiment with AI for personalization and fraud prevention.

Compared to global banks such as Santander and HSBC, Latin American banks are in the pilot and laboratory phase, prioritizing experimentation with specific segments before scaling up to the entire customer base.

Challenges and barriers to overcome

Despite the potential, SMEs face obstacles in accessing these solutions:

  • Budget limitations and adoption costs.
  • Financial and digital literacy gaps.
  • Insufficient connectivity infrastructure in rural areas.
  • Regulatory frameworks still evolving.

Consulting firms (McKinsey, BCG, Deloitte) recommend accelerating cultural transformation, investing in scalable infrastructure and establishing flexible regulatory frameworks that allow banks and fintechs to innovate with confidence.

Looking ahead to 2030: SME banking with embedded AI

The projections are clear: the AI market in Latin American banking will grow at a CAGR of around 27% until 2030. This will allow the majority of entrepreneurs to access advanced financial services via digital platforms with integrated AI. Personalized advice, intelligent credit scoring and process automation will be part of the standard.

Itaú, by betting on a laboratory dedicated to entrepreneurs, positions itself as a pioneer in this future. Its strategy shows that innovation should not be limited to large corporations: SMEs are the new terrain where digital banking defines its competitive advantage.

Closing

The creation of Itaú Emps illustrates how Latin American banking is beginning to close the gap with fintechs: adopting generative AI, big data and co-creation models with clients. The challenge will be to scale beyond the pilot and turn innovation into regular practice.

At FactorIT we believe that the key is to test fast, measure with data and scale with strategic vision, ensuring that each pilot project brings real and sustainable value to the financial ecosystem.

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