Fintech is upending the way we understand the financial sector in Latin America; financial services are experiencing deep transformations as a result of start-ups’ love for change driven by new technologies.
BBVA Bancomer, a fully owned subsidiary of BBVA, has acquired Mexico-based payments start-up Openpay to tap into its network of more than 15,000 payment reception points across the country. Openpay offers a platform for physical and electronic payments for businesses via its real-time Paynet network. According to BBVA, the start-up manages more than one million […]
BBVA has announced the completion of “the first real-life implementation of an international money transfer using Ripple’s new distributed ledger technology (DLT)”. The transaction, which ran on BBVA infrastructures with real money, resulted in money moved between Spain and Mexio “in a matter of seconds”.
The Mexican market has everything—the market size, the interest and the right attitude. There is only one thing missing and that is the very fundamentals of what fintech represents.
Canada’s Scotiabank named key components of its technology and operations strategy at the recent annual meeting of shareholders. These (unsurprisingly) focus on digital transformation, technology investment and the simplification of its organisational and operating models, as the nature of work and roles change. Brian Porter, president and CEO of Scotiabank, said that “a comprehensive change […]
Banco Santander is to begin using services provided by ATM maker Wincor Nixdorf to support its Mexican subsidiary. The services cover monitoring, maintenance and troubleshooting.
A new stock exchange, Bolsa Institucional de Valores, is planning to launch in Mexico, creating competition for Latin America’s second largest stock market, the BMV. The exchange, currently waiting for final regulatory approval, will use Nasdaq’s X-stream trading platform.
After many years of struggle, Mexicans may be about to snatch the crown of Latin America’s most promising financial services market from their Portuguese-speaking cousins in Brazil.
Cross-border payments company Earthport has launched two new routes into Mexico and Colombia, as part of a drive to open up Latin America for faster, more efficient and transparent payments.
New trading systems in Brazil and Mexico are prompting high hopes that Latin America’s two largest markets will attract more international investors and grow their liquidity base, according to panellists at the TradeTech conference in London.
