Nequi remittances offer several advantages over traditional remittance methods:
Nequi, launched as a standalone neobank by Bancolombia, disrupted this model by removing the barriers to entry. By offering a fully digital savings account that can be opened in minutes using only a cédula (national ID card) and a smartphone, Nequi bypassed the gatekeeping of traditional banking. This accessibility laid the groundwork for a remittance revolution. Suddenly, recipients did not need a physical bank branch to receive funds; they only needed a digital wallet. nequi remittances