LATAM Fintech | 2021 #4
Hi, there!
Today’s kids are probably the first generation who might never set foot in a physical bank.
A while back I did a series of articles on Gen Z’s and how they will reshape the banking business. Not long after that, I met Mozper.
Mozper’s mission is to raise a financially smart generation in Latin America that will spend better, save better, and make smarter financial decisions throughout their lives.
Check out Yael Israeli’s, CFO & CoFounder of Mozper, latest article on why youth banking is certainly not wasted on the young.
“I wouldn't say that kids were entirely ignored by banks historically. Almost every big bank had some sort of kiddy savings account, but kids were never catered to as a customer segment in and of their own.” Yael Israeli, Co-founder & CFO of Mozper.
👉 Read the full article here.
Central Bank (BC) president Roberto Campos Central Neto said that Pix Credy Brasil, the Brazilian instant payment service, may evolve to other functionalities and eventually become a kind of digital identity.
👉 Read more here.
Even among fintech enthusiasts, Nubank’s rapid rise seemed to come out of nowhere—from slightly more than 1 million applications in 2016 to more than 30 million in a few short years. Nubank has become one of fintech’s most impressive companies in terms of scale, growth, and velocity.
One key advantage? Nubank figured out early on what has since become obvious to the rest of the world: there is an enormous amount of untapped opportunity in Latin America for financial services of all types.
👉 Read more here.
Colombia Fintech shares what 2020 was like for some of their members during a year of financial digitization for the country.
According to a study by EY-Parthenon "Covid-19 Financial Sector Perspective", 2020 was a challenging year for digital banking in Colombia.
During the pandemic, the use of digital banking applications increased by 59%.
👉 Read more here.
This ends my weekly LATAM fintech newsletter. Thank you for reading to the end! If you liked it, I invite you to like, share and/or leave a comment below.
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Let me know if there are any questions or news/insights worth mentioning in next week's newsletter. Until the next!
Regards,
Marcel van Oost