WhatsApp, Generative AI Propel Brazil Into the Future of Finance

Banks are using generative artificial intelligence to make sending money to anyone in Brazil as easy as sending a text, an advance that’s helping cement the nation’s place among global leaders in AI-powered financial services.

PicPay, Itaú Unibanco Holding SA and Nu Holdings Ltd.’s Nubank are among the first firms that used GenAI to allow clients to transfer money in a chat with their official accounts — with no need to launch special payment apps — directly in Meta Platforms Inc.’s WhatsApp, the messaging app used by more than 90% of Brazilians.

The technology builds on a ...