Hey Banco is set to begin operations as an independent financial institution in Mexico starting January 31, 2026, marking the final step in its separation from Banregio after several years of regulatory preparation. The move represents a significant milestone for one of the country’s most established digital banking platforms, which will now operate under its own full banking license. This transition also reflects the broader shift within Mexico’s financial sector toward fully digital, branchless banking models.
From Digital Arm to Independent Bank
Originally launched as the digital channel of Banregio, Hey Banco was designed to test and scale digital-first banking services within a traditional financial group. Over time, the platform expanded its product offering and customer base, making clear its ambition to function as a standalone bank rather than a complementary channel. The start of independent operations formalizes that evolution while maintaining its position within Banregio Grupo Financiero.
A Regulatory Process Years in the Making
The path to independence began in July 2023, when the National Banking and Securities Commission granted Hey Banco authorization to organize as a banking institution. Despite that approval, the company was required to complete a pre-operational phase and a complex corporate separation from Banregio before receiving final clearance to operate independently. That final authorization has now been secured, allowing Hey Banco to function as a fully licensed multiple banking institution.
Communication and Impact on Customers
Hey Banco has already begun informing its customers about the transition, primarily through direct communications and in-app updates. Users are required to update the mobile application, though the bank has emphasized that products, services, and benefits will continue without disruption. According to the institution, the transition has been structured to ensure operational continuity and a seamless experience for clients.
Financial Performance and Market Position
Unlike many digital banking peers that remain in growth-at-all-costs mode, Hey Banco enters independence with positive financial results. As of November 2025, the bank reported assets of 1.589 billion pesos and a net profit of 56 million pesos, supported by a customer base exceeding 500,000 users. Management has highlighted that the bank has already achieved consecutive months of profitability, underscoring the sustainability of its business model.
A Broad Digital Banking Offering
Hey Banco differentiates itself through a comprehensive portfolio that spans deposits, credit cards, investments, insurance, payroll portability, and payments within a single digital platform. This “all-in-one” approach positions the bank as a multiproduct digital institution rather than a narrowly focused neobank. Executives argue that this breadth has been key to driving both customer engagement and early profitability.
Growth Strategy and Credit Expansion
With approximately 14 billion pesos in deposits, Hey Banco has built a strong funding base to support future lending growth. The bank’s next strategic priority is to expand credit issuance, particularly to small and medium-sized enterprises, in order to better balance its deposit and loan portfolios. Management believes that accelerating credit growth will unlock additional profitability and long-term scale.
Operating in a More Competitive Landscape
Hey Banco’s independence comes amid rising competition in Mexico’s digital banking sector, as new international and domestic players enter the market. Recent entrants such as Revolut are betting on rapid customer acquisition, while traditional banks continue to launch digital subsidiaries. Against this backdrop, Hey Banco’s early profitability and full banking license provide it with a structural advantage over many newer digital challengers.
The launch of Hey Banco as an independent institution marks a turning point not only for the company but also for Mexico’s evolving digital banking ecosystem. By combining regulatory maturity, profitability, and a broad product suite, the bank is positioning itself as a long-term player rather than an experimental fintech. As competition intensifies, Hey Banco’s ability to scale credit responsibly while maintaining profitability will be central to its next phase of growth.