Finance · Colombia

Nequi Bancolombia will begin operating as an independent regulated financing company on September 1, 2026. The popular Colombian digital wallet, officially renamed Nequi S.A. Compañía de Financiamiento, splits operationally from Bancolombia while remaining inside the same parent group, Grupo Cibest.

Nequi Bancolombia Spins Off as Independent Finance Company. (Photo internet reproduction)

What the Nequi Bancolombia Split Means

Colombia’s financial regulator, the Superintendencia Financiera de Colombia (SFC), authorized the separation through Resolution 2002 issued on October 31, 2025. The resolution grants Nequi a license to operate as a ‘compañía de financiamiento,’ a specific type of regulated financing company under Colombian law.

This move transitions Nequi from a product housed inside a traditional bank to a standalone entity with its own regulatory obligations. The SFC will now directly supervise Nequi’s capital adequacy, risk management, and consumer protection standards.

For international investors, the license signals a maturing fintech ecosystem in Latin America’s fourth-largest economy. Colombia is formalizing digital finance players, bringing them under the same rigorous oversight as established banks.

What Changes for Expats and Nomads

For the millions of users who rely on Nequi daily, nothing changes. The company confirmed the app, user interface, available services, and customer support channels will remain exactly the same.

Expats and digital nomads in Colombia commonly use Nequi for local peso transactions, bill payments, and peer-to-peer transfers. The wallet’s QR code payments and mobile top-up features are widely accepted in cities like Medellín, Bogotá, and Cartagena.

Users do not need to migrate accounts, update documents, or take any action. Existing balances, transaction history, and linked products transfer seamlessly to the new legal entity.

The continuity is deliberate. Nequi designed the spin-off as a purely structural and regulatory change, avoiding any disruption to its user base of tens of millions.

What Grupo Cibest does. Grupo Cibest S.A., together with its subsidiaries, provides various banking products and services in Colombia and internationally. It offers deposit products, including checking and savings accounts, fixed-term deposits, and investment products; credit alternatives solutions such as trade financing, working capital loans, mortgages, credit cards, personal, vehicle, payroll, and small business loans, and…

Inside the Grupo Cibest Structure

Both Nequi and Bancolombia remain part of Grupo Cibest, the holding company that controls some of Colombia’s largest financial assets. This is an internal reorganization, not a sale or divestiture.

Bancolombia, one of the country’s largest banks by assets, originally incubated Nequi as a digital-only platform. The spin-off allows each entity to pursue distinct strategies while sharing a common ownership umbrella.

Grupo Cibest’s structure now includes a traditional universal bank and a standalone digital financing company. This dual model mirrors trends in Brazil and Mexico, where legacy banks have carved out agile digital units.

For foreign portfolio investors, the separation could eventually lead to greater transparency in Nequi’s performance metrics. A standalone entity may report its own financial results, offering clearer insights into digital banking adoption in Colombia.

Nequi’s Role in Colombia’s Digital Economy

Nequi is one of Colombia‘s most downloaded financial apps, serving as an entry point to formal financial services for millions. The platform offers savings accounts, payment links, loans, and insurance products without physical branches.

The company competes directly with Daviplata, the digital wallet from Banco Davivienda, and a growing field of fintech startups. Regulation as a financing company could allow Nequi to expand its credit offerings and attract institutional funding.

Colombia’s push for financial inclusion has accelerated digital wallet adoption. Nequi has been a primary beneficiary, particularly among younger users and those outside major banking corridors.

The spin-off arrives as Colombia’s central bank advances its own instant payment system, Bre-B, designed to interconnect all financial institutions. A standalone Nequi could integrate more nimbly with emerging national payment rails.

Investor Context and Market Signals

The spin-off does not involve a public offering or capital raise at this stage. Nequi remains privately held within Grupo Cibest, and no equity is being offered to external investors.

However, the regulatory upgrade lays groundwork for potential future moves. A licensed financing company with its own balance sheet is better positioned to issue debt, securitize loan portfolios, or eventually pursue an IPO.

Latin American fintech valuations have stabilized after a volatile period. Investors are watching Colombia closely as the country implements open banking regulations and modernizes its payments infrastructure.

Nequi’s transition tests whether a digital-first platform can thrive under full regulatory scrutiny while maintaining the user experience that drove its growth. Success would provide a blueprint for other Latin American neobanks seeking formal licenses.

Frequently Asked Questions

Do I need to update my Nequi app or create a new account after September 1, 2026?

No. Nequi confirmed that users do not need to take any action.

The app, login credentials, account details, and all services remain unchanged.

Is Nequi still owned by Bancolombia?

Nequi and Bancolombia are now separate operating companies but both remain under the same parent group, Grupo Cibest. It is an internal reorganization, not a sale.

Will my money in Nequi still be protected?

Yes. As a regulated financing company supervised directly by the Superintendencia Financiera de Colombia, Nequi must meet strict capital and consumer protection requirements.