Mexico’s financial technology law, a unique piece of regulation in Latin America that took effect nearly 3 months ago, continues to draw mixed reactions from the industry. Although initially thought of as a regional model, some fintech leaders at Finnovista Lendit Fintech in Miami held earlier in December believe resulting legislation presents too onerous a burden for new entrants.…
Foreign investments have boosted a new phase of capital building across Latin America’s financial technology sector, but industry experts at a fintech conference in Miami this week caution that valuations are rising rapidly as the size of investment rounds grow larger. While traditional Latin American venture capital funds engage in investments that average between $4…
Accelerating venture capital flows to Latin America signal that “it is now the best time” to invest in the region’s budding fintech market, Driss Temsamani, the regional head of digital channels at Citigroup Inc., told S&P Global Market Intelligence. Funding to Latin America’s fintech space has topped $481 million through 23 deals during the second…
Pressured by competition from big technology companies, banks have revamped their culture and worked on ways to attract valuable IT human capital with a more informal and diverse background. As competition intensifies, banks in Brazil are pushing to subject fintech companies to the same regulatory requirements as they have in order to create a level…
As artificial intelligence advances at a rapid clip, a growing number of financial institutions are beginning to use the technology, even as some warn of potential security and ethical risks. The spectrum of opportunities that banks have in emerging AI technology was a hot topic during Febraban’s Ciab banking and technology conference in São Paulo,…
Financial industry publisher Jim Marous calls for rethinking banking culture to embrace technology and serve customers in a way big tech alternatives are already doing. Marous has long flagged the need for innovation among financial institutions and believes most of them are playing technological catch-up. Financial services expert Jim Marous has long advocated for greater application of technology…
Open banking regulation in Brazil should make the relationship between banks and financial technology companies even closer, Banco Bradesco SA CEO Octavio de Lazari said at a conference in São Paulo, Brazil. Speaking at Febraban’s Ciab banking and technology conference, the executive warned banks not to think of fintech firms as competitors, but rather as potential partners.…