Gone are the days of selecting your bank because it’s nearby; now, small businesses want to bank with someone who understands them and has the digital products they are looking for.
Fintech unicorn Ualá finally obtained a banking license in Mexico, clearing the way for the neobank to aggressively expand its product suite.
Financial innovation is happening all around the world and the Caribbean is no exception. With a population of 45 million people it is a rich market for fintech.
At the end of September, Lendistry reached the one-year mark running the Amazon Community Lending program.
AI occupies executives’ thoughts in many ways, according to the results of Sopra’s third annual Digital Banking Experience Report.
The credit giant is adding advanced analytics to further assist lenders in managing their risk profiles while adding expanded credit models for small business loans and credit-card lines.
Can a retail bank offer a motorcycle to its clients? Might a fintech sell furniture or tennis shoes while providing financing?
Lenders have long identified the need to develop better scoring models that include those with thin or no credit files, but the problem persists, Credolab’s CSO Michele Tucci said. Credolab tackles the problem using privacy-consented and permissioned data through smartphones and web pages.
To attract the next generation community banks have their work cut out for them. But there are steps any bank can take to make themselves more attractive to millennial and Gen-Z consumers.
Millions of people in Mexico do not have access to basic financial products, but fintechs have been working to radically change the scenario.