Start-up to democritise Mexican banking raises largest funding round in country’s history
The investment is $7.5 million in equity and $50 million in debt.
Mexico
Goldman Sachs lends Mexican start-up Konfio $100m
The companies had “several” event run-ins.
New challenger Xpats kicks off from Mexico
Offering three different tiers of account and services.
Banco BASE chooses Volante to deliver modern payments platform
Serving corporations and medium-sized businesses in Mexico.
Credijusto closes $100m credit facility with Goldman Sachs
The Mexican lendtech provides SMEs with credit.
Mexico mulls mobile payments system with Amazon
Nation’s central bank in talks with tech titan.
Scotiabank taps Mexican talent for fintech accelerator
Canadian bank teams with Monterrey university for Mexico City action.
Mexican challenger bank Albo raises $7m
Series A funding round led by Mountain Nazca.
Swiss fintech KiWi gets $3m funding for SME lending and payments
To expand in Mexico and neighbouring markets.
Banco Sabadell’s InnoCells moves on Mexico with UnDosTres investment
The bank’s corporate venture arm picks a paytech.
Ebanx to process LatAm payments for Camel Financial
Camel is the financial arm of e-commerce firm DHgate.
Paytech firm Ondot lands strategic investment from Citi Ventures
New funds will help power international growth for mobile payment services specialist Ondot.
Startupbootcamp Scale Fintech calls for LatAm start-ups
Applications are open until 10 December.
Top fintech stories this week – 14 September 2018
Catch up on FinTech Futures’ top five fintech stories of the week – all in one place!
PSECU live with new core banking system, Corelation’s Keystone
Symitar core banking system out, Corelation’s Keystone in, at Pennsylvania State Employees CU.
Mexico’s Fintech Law now published and live
Setting fintech standards for Central and South America.
Visa and MoneyGram team up for cross-border payments
Will use Visa Direct, its real-time push payments platform.
How Latin America’s fintech market could exceed $150bn by 2021
The rise and rise of LatAm fintech.
BBVA dream team unveils mobile banking platform in Mexico
Launch involved teams from Spain, US and Mexico.
Mexican banks hit by cyberattacks
Between $15-20m taken from at least five Mexican financial groups.
Fiserv fuels Siscoop’s Mexican banking scoop
First to enable digital and mobile banking for credit union members.
Alipay moves into Mexico via Openpay
Openpay has a network of more than 17,500 associated points of sale in the country.
Softtek and Mambu unveil banking Platform-as-a-Service
SaaS-y engine provider partners with Mexican system integrator.
Startupbootcamp launches Scale innovation programme for start-ups
Startupbootcamp has unveiled the launch of Startupbootcamp Scale, an innovation programme for growth stage start-ups in emerging markets.
Financial innovation in LatAm calls for open collaboration with start-ups
Fintech is upending the way we understand the financial sector in Latin America; financial services are experiencing deep transformations as a result of start-ups’ love for change driven by new technologies.
BBVA analyses urbanites for big data dynamite
BBVA has launched Urban Discovery, an interactive tool open to everyone that analyses the cities of Madrid, Barcelona and Mexico City through the prism of their commercial activity. The bank says the analysis led to the creation of new maps that redraw urban borders and identify the most touristic and residential areas or those where […]
Banco de Mexico revamps risk management tech with Finastra’s Fusionrisk
Banco de Mexico, the country’s central bank, is replacing its legacy risk management software with Finastra’s Fusionrisk.
BBVA buys Mexican payments start-up Openpay
BBVA Bancomer, a fully owned subsidiary of BBVA, has acquired Mexico-based payments start-up Openpay to tap into its network of more than 15,000 payment reception points across the country. Openpay offers a platform for physical and electronic payments for businesses via its real-time Paynet network. According to BBVA, the start-up manages more than one million […]
BBVA and Ripple complete blockchain cross-border money transfer pilot
BBVA has announced the completion of “the first real-life implementation of an international money transfer using Ripple’s new distributed ledger technology (DLT)”. The transaction, which ran on BBVA infrastructures with real money, resulted in money moved between Spain and Mexio “in a matter of seconds”.
CIBanco deploys Swift’s compliance services suite
Mexico-based CIBanco has signed for a compliance services suite from Swift, which comprises compliance analytics and sanctions screening tools and KYC Registry.
Uber rides into Mexico debit card arena
Uber has teamed up with MasterCard and Mexico’s first online bank, Bankaool, to launch its own debit card. The latest deal is Uber’s ride deeper into the fintech space. It recently partnered with Standard Chartered to offer the bank’s credit cardholders cashbacks on Uber rides. The UberCard in Mexico is linked to a Bankaool bank […]
Mystery as Mexican Bitcoin exchange goes offline
Mexico’s third-largest Bitcoin exchange, MeXBT, has gone offline without any prior warning – leaving its users confused. The firm’s website has gone and now just says “the page you are looking for cannot be found”. Its Twitter account is slightly more helpful and says (in Spanish) the platform has been suspended temporarily and it needs […]
FacePhi lands in Mexico with Selphi
Spanish biometrics firm FacePhi has signed a new contract with Mexico’s Banco Inbursa to implement its face recognition technology on mobile banking apps and web platforms. This is the company’s ninth contract in total. FacePhi says Banco Inbursa becomes the first financial institution in Mexico offering facial recognition authentication to its clients, “just by taking […]
Scotiabank invests millions of dollars in digitalisation; simplifies operating models
Canada’s Scotiabank named key components of its technology and operations strategy at the recent annual meeting of shareholders. These (unsurprisingly) focus on digital transformation, technology investment and the simplification of its organisational and operating models, as the nature of work and roles change. Brian Porter, president and CEO of Scotiabank, said that “a comprehensive change […]
Banco Santander selects ATM monitoring service
Banco Santander is to begin using services provided by ATM maker Wincor Nixdorf to support its Mexican subsidiary. The services cover monitoring, maintenance and troubleshooting.
New exchange BIVA plans conquest of Mexico
A new stock exchange, Bolsa Institucional de Valores, is planning to launch in Mexico, creating competition for Latin America’s second largest stock market, the BMV. The exchange, currently waiting for final regulatory approval, will use Nasdaq’s X-stream trading platform.
Financial services looking up, down Mexico way
After many years of struggle, Mexicans may be about to snatch the crown of Latin America’s most promising financial services market from their Portuguese-speaking cousins in Brazil.
Earthport launches payments route to Mexico and Colombia
Cross-border payments company Earthport has launched two new routes into Mexico and Colombia, as part of a drive to open up Latin America for faster, more efficient and transparent payments.
Latin American markets looking for international investors to boost liquidity
New trading systems in Brazil and Mexico are prompting high hopes that Latin America’s two largest markets will attract more international investors and grow their liquidity base, according to panellists at the TradeTech conference in London.
