In Mexico, Banco Santander, together with the Embassy of the United Kingdom, will promote the development of a study related to Financial Technology companies.
The bank announced that, in partnership with financial technology companies (Fintech) and in collaboration with the United Kingdom Embassy in that country, will promote a study on the challenges, prospects and opportunities for the development of these companies.
They hope that the study, which will be developed by Endeavor, will give recommendations so that these companies can continue to develop, accelerating competition, under equal conditions for banks and Fintech.
Public policy opportunities
They also believe that it will help identify public policy opportunities so that Fintech can continue to bring innovations in financial matters in favor of the community.
The announcement took place in the Residence of the Ambassador of the United Kingdom. According to the published information, there was also a “study on financial inclusion focused on women’s empowerment”, and then a panel on Investment in Fintech as an inclusion vehicle coordinated by Santander Mexico.
Mexico, developing in fintech
Currently, Mexico is one of the economies with the largest development of Fintech companies in the region, with a large number of companies of this type, which places the country as the second largest Fintech ecosystem in Latin America.
The ambassador of the United Kingdom in Mexico, Corin Robertson, was present at the event; the Executive Director of Digital Banking at Santander México, Javier Castrillo; the Undersecretary of Finance and Public Credit, Arturo Herrera; and the president of the National Banking and Securities Commission, Adalberto Palma.
Ranking
According to a study by the Inter-American Development Bank (IDB), Brazil leads the list of countries with more Fintech companies in Latin America, with 380 operational ventures, followed by Mexico with 273. This was reported by TyN Magazine on March 20.
There are five Latin American countries that account for 86 percent of the region’s total fintech activity: Brazil, with 380 operational fintech ventures (33 percent of the total); Mexico, with 273 fintech ventures (23 percent of the total); Colombia, with 148 undertakings of the total (13 percent); Argentina, with 116 identified enterprises (10 percent of the total); and Chile, with 84 fintech ventures in the country (7 percent).
Also published on Medium.