What Ueno does

Ueno (legal name ueno bank S.A.) is a regulated Paraguayan digital bank headquartered in Asunción, serving approximately 2.8 million customers as of March 2026. Operating under the parent holding company U Holdings S.àr.l. and tracing its heritage to Financiera El Comercio (founded 1984 under Grupo Vázquez), ueno was launched in 2019 as a digital-first banking brand and operates a hybrid distribution model: a proprietary mobile app and web platform (hb.ueno.com.py) combined with 75+ physical 'ueno bank x' experience centers and 300+ WEPA collection points across Paraguay, all available 24/7 including holidays. The bank is regulated by the Banco Central del Paraguay (Resolution No.22, Acta No.67, dated 22 November 2023) and holds ISO 27001 (information security, 2022) and ISO 37301:2021 (compliance management, June 2026) certifications.

Ueno's product suite spans zero-fee digital savings accounts (Caja de Ahorro) in guaraníes and USD, the ueno Dúo Card (Paraguay's first dual credit/debit card on a single physical card), the ueno Black premium tier, the Plan U credit-rehabilitation program, personal/micro/home/vehicle/MIPYME lending (14-16% annual), Giros U card-to-card transfers, QR and NFC contactless payments, PIX cross-border payments to Brazil, Apple Pay, scheduled savings, certificates of deposit, mutual funds via the ueno Casa de Bolsa brokerage subsidiary, currency exchange, and insurance. Revenue mechanics are diversified across interest income on the PYG 13 trillion loan portfolio, loan origination fees, card interchange, investment product fees, and FX spread. The bank carries BB (Stable) global and AA-py local ratings from Fitch, ROE of 22.86%, ROA of 1.97%, and a delinquency rate of 0.50% (down from 0.76% in 2024).

The go-to-market motion is product-led growth combined with high-visibility sports sponsorships (Paraguayan national football team, CONMEBOL Libertadores, Club Olimpia, Club Cerro Porteño) and a five-tier ueno+ loyalty program (upys) offering up to 40% cashback at 500+ partner merchants. International institutional validation is reflected in OTP Bank's 9.99% stake in U Holdings (June 2026) and a USD 20 million debt facility from OeEB, the Austrian Development Bank, to support MIPYME, women-entrepreneur, and green-finance lending. The 2026 Mastercard Agent Pay pilot positions ueno as a regional first-mover in agentic AI-initiated payment transactions.

Name

Ueno

Legal name

ueno bank S.A.

Website

https://ueno.com.py

Company type

Private

Founded year

2019

Operating status

Operating

Headcount range

101–250 employees

Short description

Ueno bank S.A. is a regulated Paraguayan digital bank serving ~2.8 million retail and MIPYME customers via a mobile-first platform and 75+ 24/7 physical experience centers, offering zero-fee accounts, the dual-function ueno Dúo Card, lending, payments, and investment products under a product-led growth model.

Ownership category

akta.pro rank

Product category

Digital Banking / Retail Banking

NAICS

Commercial Banking (52211), Depository Credit Intermediation (5221)

SIC

State Commercial Banks (6022)

akta.pro primary industry

Customer Experience & Engagement (CRM, Support, Rewards, Loyalty) (FSAGAAAM)

akta.pro secondary industries

General-Purpose Debit Card Schemes (FSAMAAAB), Multi-Currency Accounts, Wallets & IBAN Services (FSAMAIAG), Cross-Border & FX Payments Platforms (BPAMAFAK), Commercial & Corporate Card Schemes (FSAMAAAF)

Keywords

• Digital banking services
• Mobile banking platform
• Consumer lending products
• Payment processing services
• Retail banking services

Headquarters

HQ city

Asunción

HQ country

Paraguay

HQ region

Latin America

Offices2 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Technology or R&D, Infrastructure, Marketing or Sales, Operations, Others

Revenue model

1. Interest Income on Loans: Core banking revenue from interest charged on personal loans, vehicle loans, home loans, and MIPYME loans. Variable rates from 14% annual for medium enterprises to 16% for microenterprises.
2. Loan Origination Fees: Fees from loan processing and origination, including Plan U refinancing loans
3. Card-related Revenue: Interchange fees from credit and debit card transactions, international transaction fees
4. Investment Products: Revenue from certificate of deposit (CDA) products, mutual funds, and savings products through ueno Casa de Bolsa
5. Currency Exchange: Revenue from currency exchange transactions between guaranies, dollars, and euros

Pricing tiers

Go-to-market motion1 record

Distribution channels8 records

Marketing channels7 records

Core offering

Ueno is a Paraguayan digital bank that provides a full suite of consumer and small-business banking products through a mobile-first platform backed by 75+ 24/7 physical experience centers. Its core offerings span zero-fee digital savings accounts (Guaranies and USD), personal and MIPYME loans, dual credit/debit cards (ueno Dúo Card), the ueno Black premium card, the Plan U credit-rehabilitation program, instant money transfers (Giros U), multi-channel payments (QR, NFC, Pix, Apple Pay), currency exchange, and investment products through ueno Casa de Bolsa.

Product overview

Ueno is a Paraguayan digital bank offering a comprehensive suite of financial products and services through a mobile-first platform complemented by a nationwide network of over 75 physical experience centers (ueno bank x). The core product portfolio centers on digital savings accounts (Caja de Ahorro), lending solutions (Préstamos), and payment services (Pagos). Key differentiated offerings include the ueno Dúo Card (Paraguay's first dual credit/debit card), ueno Black (premium tier with exclusive benefits), and the Plan U program (credit rehabilitation). Supplementary services encompass currency exchange, money transfers (Giros U), check management, insurance, and investment products via ueno Casa de Bolsa. The ueno+ loyalty program rewards usage with escalating cashback tiers. Business banking is served through ueno Empresas, while service delivery extends via TEDs (24/7 digital terminals), ROT videocall platforms, and WEPA collection points.

Differentiator

Problem solved

Functional benefit

Brands

• ueno+: Loyalty program that rewards customers with upys (points) for using banking services, offering cashback benefits up to 40% at participating merchants.
• ueno black
• Plan U
• ueno Casa de Bolsa
• Giros U
• ueno bank x
• ueno kids
• Punto wepa

Products and services

• Caja de Ahorro (Savings Account)
• Préstamos (Personal and MIPYME Loans)
• ueno Dúo Card
• ueno Black (Premium Card)
• Tarjeta Plan U (Credit-Building Card)
• Préstamo Plan U (Debt-Consolidation Loan)
• Ahorro e Inversiones (Savings and Investments)
• ueno Casa de Bolsa (Securities Brokerage)
• Pagos (Payments Service)
• Giros U (Instant Money Transfer)
• Cambio de Moneda (Currency Exchange)
• Cheques (Check Management)
• Seguros (Insurance)
• ueno+ Loyalty Program
• Plan U (Financial Rehabilitation Program)
• ueno Empresas (Business Banking)
• Agentic Payments (Mastercard Agent Pay pilot)

Quantifiable outcome

• Customer base grew from 2.16 million (2024) to 2.80 million (March 2026), representing 30% growth
• +4 more outcomes

Named customers16 records

Segments5 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration6 records

AI capability3 records

Feature5 records

Partnerships

Five partnerships are on record, tiered core and minor.

• MastercardcoreTechnology or Integration · 24 March 2026ueno bank participated in Mastercard's Agent Pay infrastructure pilot, completing live agentic payment transactions across Latin America and Caribbean. The transactions demonstrated AI agents' ability to securely initiate and execute payments with full cardholder consent using existing payment infrastructure.
• itti (ITTI S.A.E.C.A.)coreStrategic or Co-development Partner · 1 January 2026itti and ueno bank co-lead the Moonshot incubation program, which attracted over 2,800 applicants in 2026, making it Paraguay's most relevant entrepreneurship and innovation platform.
• Instituto Paraguayo de Artesanía (IPA)minorStrategic or Co-development Partner · 1 January 2026ueno bank supported the 2026 ORE Indigenous Art and Craft Fair, an initiative promoting indigenous cultural heritage and supporting community economies.
• DT FinancierominorGTM or Marketing Partner · 1 January 2026Financial education platform for Paraguayan footballers, providing financial literacy content and tools. ueno bank supports this initiative as part of its financial inclusion mission.
• ApplecoreTechnology or Integration · 1 January 2024Apple Pay integration enabled for contactless payments from ueno bank cards, allowing users to pay with iPhone and Apple Watch at NFC-enabled terminals.

Scale indicators16 records

Recent moves6 records

Expansion highlights6 records

Emerging players

• Nubank: Largest Latin American neobank serving Brazil, Mexico, and Colombia with a mobile-first credit/debit/account proposition. Comparable to ueno as a digital banking reference case but operates at materially larger scale and geography, and does not serve Paraguay directly.
• Tigo Money (Paraguay): Mobile money/wallet service operated by telecommunications group Millicom in Paraguay, offering deposits, transfers, and payments via mobile. Comparable as a digital-first, low-fee financial inclusion product targeting similar unbanked/underbanked retail customers as ueno.
• Ualá: Latin American neobank operating in Argentina and expanding regionally, with Mastercard-issued cards, lending, and payments. Comparable to ueno as a Mastercard-partnered neobank focused on financial inclusion for retail customers.

Broad incumbents

• Banco Itaú Paraguay: Subsidiary of Brazilian banking giant Itaú Unibanco operating in Paraguay with traditional deposits, lending, and cards plus a growing digital channel. Comparable as a large incumbent competing for the same retail and SME wallet ueno targets.
• Banco Santander Paraguay: Paraguayan arm of Santander Group offering full banking services including consumer credit, cards, and increasingly digital products. Competes with ueno across retail and SME segments with stronger balance sheet but less digital-native positioning.

Direct peers

• Visión Banco: Paraguayan commercial bank offering deposits, consumer loans, and cards with a growing digital footprint. Direct competitor for ueno's retail and SME customer base within Paraguay.
• Banco Familiar: Paraguayan bank with a focus on consumer credit and retail deposits, operating physical branches and digital channels. Direct competitor for ueno in the retail banking and consumer lending segments in Paraguay.
• Banco Atlas: Paraguayan commercial bank providing deposit, loan, and card services with a national footprint. Comparable as a direct competitor in the same Paraguayan market across retail and SME banking.
• Banco Continental (Paraguay): Established Paraguayan commercial bank with deposits, lending, and card services across retail and corporate segments. Comparable as a traditional domestic competitor to ueno in the Paraguayan retail and SME banking market.

Regional players

• Pomelo: LatAm fintech-as-a-service provider offering card issuing, account, and payment infrastructure to banks and fintechs. Comparable to ueno's tech stack and was named alongside ueno in Mastercard's Agent Pay pilot — adjacent infrastructure peer rather than direct retail competitor.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks5 records

Key highlights8 records

Customer concentration

• Xx.com/uenopy
• YouTubeyoutube.com/@uenopy
• Facebookfacebook.com/uenoparaguay
• LinkedInlinkedin.com/company/ueno-paraguay
• Instagraminstagram.com/ueno_py

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Subsidiaries1 record

Funding overview

Funding rounds3 records

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Ueno