Historical series icarros integrates Itaú Unibanco’s operation to assume leadership in automotive classifieds
The marketplace modernizes the platform, and adds the database and products from the bank’s shelf, strengthening its participation in the car market; Itaú and Itaú Cartões customers have free advertising for vehicles
icarros, Itaú Unibanco’s automotive marketplace, changes its identity, modernizes its platform and expands synergies with the bank through the intensive use of data to strengthen its value offer and achieve leadership in the sector. Now, with the name Itaú and the bank’s characteristic orange color incorporated into its logo, icarros has evolved from a portal for the purchase and sale of vehicles, focused on products, to a full service marketplace focused on the customer’s needs.
The icarros database is now 100% integrated with the Itaú database, and this synergy will translate into the offer of the e-commerce platform, into much more customized and complete solutions and services to its users – sellers and buyers, from financing to insurance and tax payments.
The innovation also contemplates a financing simulator directly connected to the platform, which allows, by cross-referencing the customer’s data at the bank, proposals according to his or her profile. In addition, the bank’s account holders and customers who have Itaú cards can advertise vehicles for free.
“We are transforming the way we operate, combining technology and data intelligence to get to know in depth the profile, the moment in life, and the relationship people have with their cars and, therefore, we have been more proactive and assertive in offering the best solutions for each user, adding all the strength of Itaú Unibanco’s products and solutions,” explains Michele Vita, an executive who has spent more than 20 years at the bank, and who took on the challenge of executing this transformation at icarros a year ago.
It started with the entry of the marketplace into the Itaú and Itaú Cartões applications at the end of 2022, bringing greater convenience and benefits to the bank’s customers, who can now advertise their cars for free on the same platform where they can also access other solutions, such as taking out insurance, paying taxes, and simulating financing.
The company has a large critical mass in automotive data and aims to support the resumption of growth in the sector, affected by the pandemic. There are already more than 12 million unique users. The evolution of the platform and the synergy with the bank’s data reinforce the beyond banking agenda that Itaú has been building – a business ecosystem that brings a new value proposition to the bank’s clients, who have access to much more than traditional financial products and services. The goal is to bring more ease, by making available a safe business counter that offers the right product to the right audience and maintains a high engagement rate.
Currently, icarros is the most downloaded automotive classifieds application in Brazil. There were 172 thousand downloads in December 2022, 25% more than its main competitor. Present in 25 states, in addition to the Federal District, it offers services for buying and selling vehicles, online insurance quotes and contracting, a tool for comparing models, the owner’s opinion, and the traditional Fipe Table for price consultations.