More than a fifth of its 126 million people also do not have access to the internet. "There's still a lot to do," Hank said, adding that bineo has a competitive advantage: the backing of Grupo Financiero Banorte. Last week, Santander Mexico announced plans to launch its Openbank digital banking service in the coming months. In July, Hey Banco, backed by Banregio Grupo Financiero, received authorization from the authorities to operate as a bank.