The alliance insists the move is of great ecological benefit, but historically banks have not held the agribusinesses they finance to proper account. A legislative response rather than individual efforts seems necessary.

As instant payments, cross-border improvements, and open banking and open finance develop around the world, Brazil is steadily growing as a fintech hub and learning lessons from other jurisdictions along the way.

The Brazilian instant payment method, launched almost two years ago, was quickly adopted for a number of reasons. What next for the payments system?

Brazil’s economy has performed better than expected in the first few months of the year. However, it faces strong headwinds with regards inflation and political uncertainty. 

The strength of Brazil’s banks indicates that they will be able to stay the course as they navigate regulatory reforms and the emergence of new competitors.

The scope of Brazilian open finance is broader than other markets, according to Itaú Unibanco's group head of investor relations and marketing intelligence. 

Covid-19 has dampened investment into Latin America’s largest country, but the fintech space has remained buoyant.

Demand for more flexible borrowing terms is putting pressure on international and local banks to be more accommodating in order to remain competitive.

As the country grapples with a soaring death toll, emergency measures have tackled credit scarcity in different ways.