Fintechs in Mexico take on the challenge of competing with banks, in a country that lags most Latin American peers in financial inclusion.
Five years since Mexico passed the fintech law, industry leaders call for an overhaul to the current regulation.
The fintech industry urges the government to expedite the procedure, contending that the current legal framework is impeding growth.
Credijusto, a leading Mexican small business fintech paid $50 million to buy Banco Finterra in June. Co-CEO David Poritz wrapped day one of the LendIt LatAm keynote section, discussing what it was like as the only neobank holding a banking license in Mexico.
Buy Now, Pay Later companies are gaining ground in Latin America, with Kueski reporting more than 1 million customers.
Marketplace lending loan servicer First Associates has announced the opening of a new operations center; the operations center is located in Baja California, Mexico with capacity for 1,000 seats; in comments regarding the announcement, First Associates CEO David Johnson said: "We couldn’t be more excited about our new Baja facility. We are able to deliver the same outstanding quality and service as our San Diego operations center, offer an economically advantageous option to our clients and provide significant opportunities in a developing business community that is an important part of the greater San Diego/Tijuana metro area." Source
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DiMo turns one year in Mexico. With this new digital payments initiative, the central bank wants to move on from CoDi´s unsuccessful experience.
Exclusive interview with Andrew Seiz, head of finance at Kueski, on the 2024 outlook for consumer lending and Buy Now Pay Later in Mexico.
Yave, a mortgage and credit fintech that aims to capture the Mexican mortgage market, won the day after an excellent presentation by co-founder and CEO Bernardo Silva. He said he wanted to break into the slow-moving trad marketplace for mortgages and help brokers put the mortgage right into the sales process.
Latam fintech associations made a significant stride last week by publishing a document proposing joint regulations for open finance.