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AmericasNovember 2 2020

Latam fintech on the rise

While Brazil and Mexico are leading the charge, other Latin American fintech ecosystems are starting to emerge, creating new business models and leveraging open banking. 
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The Latin American (Latam) fintech scene is booming, fuelled by supportive regulatory environments in several countries, the changing attitudes of banks and, of course, the move to digital transactions brought on by Covid-19. Consequently, the investment environment has remained robust even during the pandemic.

According to data from Latam Fintech Hub, the region’s fintechs raised a total of $545m in the first half of 2020, with 98% of funding concentrated in Brazil, Mexico and Colombia. Three business segments — lending, payments and financial tools for small and medium-sized enterprises — absorbed 84% of the total funding.

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Joy Macknight is the editor of The Banker. She joined the publication in 2015 as transaction banking and technology editor. Previously, she was features editor at Profit & Loss, editorial director at Treasury Today and editor at gtnews. She also worked as a staff writer on Banking Technology and IBM Computer Today, as well as a freelancer on Computer Weekly. She has a BSc from the University of Victoria, Canada.
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