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Mexican fintechs Klar and Konfio tap $100 million credit lines from U.S. firms to boost lending in the country.
The report found that the traditional playbook of developing branches and building relationships may count "for little in a world where a mobile phone is the principal' real estate', and word-of-mouth – often via social media – becomes the most powerful form of validation."
Millions of people in Mexico do not have access to basic financial products, but fintechs have been working to radically change the scenario.