The Economist magazine's intelligence unit (EIU) has published a report on regulatory support for financial inclusion in developing countries and it is now gaining traction with press and analysts; the report scores countries on having an inclusiveness strategy and building governmental and private sector expertise, then provides in-depth details in areas including credit markets, non-regulated lenders, payments and insurance; Colombia ties Peru this year for the most progressive country; India has shown the most improvement; Latin America and East/South Asia are leaders regionally while Africa and the Middle East remain behind; the EIU performed the research in conjunction with the Center for Financial Inclusion at Accion and the Multilateral Investment Fund at the Inter-American Development Bank. Source
askRobin is based in Estonia but serves consumers in Latin America; the company first started in Mexico in late 2017,...
Colombian fintech Avista raised $22.5 million in debt from Accial Capital as it seeks to boost lending to the elderly.
Nubank and Ualá expanded to Colombia to boost customer acquisition. Replicating success in Latin America is no easy feat for digital banks.
A year after launching in Colombia, Argentine neobank Ualá reached 200,000 customers in the country, its CEO Natalia Ríos told Fintech Nexus.
According to Banking Technology, PayU will be implementing Mambu's software-as-a-service based core banking platform; the software will support PayU's short-term deferred payment product; Mambu now has 26 clients which it supports from its Miami office; PayU is currently running a pilot in Colombia but it is expected to roll out services across Latin America. Source
Addi has targeted the Colombian and Brazilian credit market with their BNPL product. CEO Santiago Suarez says insights make the difference.
Open Finance is still a new concept in Colombia. However, the country is catching up with a series of regulatory initiatives.
The investment, which was made in two parts, will serve to expand Kala's commercial and engineering team, as well as lay the groundwork to take its operations to other parts of LatAm.
Druo's technology creates an ecosystem that enables B2B users to charge or pay directly to any bank account without having to go through the complex network of financial intermediaries.