Intercredit Bank in Miami plans to close its branches and shift to a digital-only strategy using its Pibank brand.
Pibank, launched in the United States in 2024, has more than $2 billion of assets. The move to a branchless, cashless, digital-first model should be completed by this summer.
“The transition to a fully digital model reflects what we have built to-date through Pibank, and we will now continue to build upon as a digital-first bank with the personalized support of a dedicated team of professionals,” Francesc Noguera, Intercredit Bank’s CEO, said in a statement. “The transition meets the needs of today’s digital banking consumer.”