The fintech industry urges the government to expedite the procedure, contending that the current legal framework is impeding growth.
Fintech unicorn Ualá finally obtained a banking license in Mexico, clearing the way for the neobank to aggressively expand its product suite.
Despite high interest rates and risks of a reccesion, many BNPL fintech providers now vie to offer loans to the underbanked in Mexico.
Fairplay provides technology and financing solutions for e-commerce businesses and marketplace sellers in Mexico.
Digital neobank Albo saw a $40 million investment from U.S. and Mexican venture capital firms to expand SME loans in Mexico.
Nubank's second product in Mexico was well received. Country manager Ivan Canales discusses the market strategy with Fintech Nexus.
Latam fintech associations made a significant stride last week by publishing a document proposing joint regulations for open finance.
Several of the largest fintechs in Mexico have plans to step up loans to small and medium-sized businesses in the country.
Belvo will provide access to employment data at the Mexican Social Welfare bureau. It could be a key driver for lending to the underbanked.