Brazil's Banco Inter SA and Uber Technologies Inc. are in discussions to create a financial services partnership, Reuters reported, citing a source familiar with the matter.

The partnership could target both Banco Inter's more than 3 million clients and Uber's drivers, although the source declined to comment on the terms of the prospective agreement.

A deal would likely lift Banco Inter's business volumes as Brazil is Uber's second-largest market after the U.S. — there are more Uber rides in São Paulo than in any other city in the world.

Japan's SoftBank Group Corp. recently raised its stake in Banco Inter to almost 15% and is also a shareholder in Uber.