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Mexico is the leading place for Fintech in the southern regions

The Fintechs seek to change this way of looking at the financial system and facilitate the interaction between banks and users.

According to Statista, market research portal, in developing countries, Fintech have great potential. In Mexico, a total of 158 firms have been identified, which makes it the country with the largest market in Latin America in this area, followed by Brazil, Colombia and Chile, according to Mexican newspaper El Financiero.

These Mexican startups intend to capture 30 percent of the Mexican banking market in the next 10 years, and they hope to expand the financial market with a view to appropriating those segments of the unbanked population.

The portal indicates that the value of transactions in the market of these firms will amount to 3 thousand 300 million dollars by the end of 2017 worldwide; being China, the United States, the United Kingdom, Japan and Germany are the countries with the highest values.

But … what is Fintech really? What do they offer and why are they so attractive? According to the National Commission for the Protection and Defense of Users of Financial Services (Condusef), the term ‘Fintech’ derives from the words ‘finance technology’ and is used to refer to those companies that offer financial products and services, making use of of technologies.

Published inFintech

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