Latin America

Latin America Sees Booming Digital Banking Sector with Brazil at the Lead

Over the last few years, digital banking in Latin America (Latam) has experienced extraordinary growth on the back of changing customer needs, expanding technological penetration and rapidly evolving regulatory standards. Since 2017, the number of digital banks has more than

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Open Banking Becomes a Reality in Latin America

The open banking movement has reached Latin America (LatAm) on the back of a booming fintech sector. The growth of fintech in LatAm started later than in other regions but quickly picked up steam. From 2017 to 2019, fintech investment

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Neobanks Come for Kids and Teens

Neobanks and digital banks have set new standards in customer experience and expectations, pushing incumbents to get out of their comfort zone and innovate. After accumulating an estimated 39 million users worldwide, neobanks are now coming after the next generation,

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Cloud and Digital Wallets to Drive Payments in Latin America, Despite Pandemic

64% of financial institutions in Latin America will be increasing investment in retail payments over the next two years, according to a survey conducted by OpenWay, a global vendor of digital payment software, and technology analyst house Omdia. Banks and

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An Overview of South America’s Booming Neobanking Sector

South America has seen an exceptionally dynamic evolution of its neobanking landscape, with now more than 30 live neobanks and digital banks that serve over 50 million customers out of the region’s 430 million+ population (+11%), data from Dutch fintech

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Sonect Launches in the UK and Builds Cross-Continental Network in Latin America

Zurich-based Sonect has entered into a partnership agreement with Lana, a personal finance platform aiming to provide transactional accounts and financial services to gig economy workers throughout Latin America. The Sonect app allows customers to withdraw cash directly in the

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New BIS Working Paper Looks at State of Central Bank Digital Currency Projects Around the World

A new working paper by the Bank for International Settlements (BIS) looks at the state of central bank digital currency (CBDC) projects around the world. According to the study, as of mid-July 2020, at least 36 central banks had published

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One of the Hottest Swiss Fintechs Raises CHF8.45 Million for Series A

A few days after receiving an accolade as the «Next Global Hot Thing», Sonect, the pioneer of Virtual ATMs, has announced the completion of an oversubscribed Series A round. Together, all existing investors have contributed CHF8.45 million. Since its foundation

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