Mexico’s fintech law “needs a shake-up”

Of the 650 fintechs in operation in Mexico, just 46 operate under its 2018 fintech law. Industry experts are lamenting its shortcomings, writes Barbara Pianese.

by Barbara Pianese

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Mexico’s fintech law was supposed to be a catalyst for the financial sector when it was first approved in 2018. Five years later, industry players are highlighting its shortcomings.

Just 46 of the 650 fintechs operating in Mexico do so under the law, while the rest are governed by different regulations, according to a 2023 report published by the national fintech association, Fintech Mexico.

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Barbara Pianese

Barbara Pianese is the Latin America editor at The Banker. She joined from Mergermarket, where she spent four years covering mergers and acquisitions across Europe with a focus on the consumer sector. She holds an MA in International and Diplomatic Affairs from the University of Bologna having studied in Brazil and France as well.

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