👀 NEWS HIGHLIGHT
Baaskit has recently received authorization from the Financial Market Commission, is preparing for registration. The company will introduce ‘Banking as a Service’ model to the Chilean market.
The ‘Banking as a Service’ model focuses on providing businesses, especially large brands, with embedded financial services within their value offerings. This approach aims to shift the traditional client-provider relationship, allowing companies to offer financial services under their own brand.
NOW, ON TO THE SUMMARY OF LAST WEEK'S NEWS
☕️ REGIONAL HIGHLIGHTS
⭐️ Klavi now has the “key” to regulated Open Finance.
⭐️ Cumbuca launches an innovative application designed to simplify the division of expenses among couples and friends.
⭐️ RappiCuenta to cease operations in Mexico
⭐️ Nubank customers in São Paulo can now register their vehicles on the app to pay Detran bills.
BRAZIL
Credmei, Fintech specialising in advance receivables for SMEs, raised US$8.1M to expand its credit portfolio in Brazil. The target was small and medium-sized enterprises (SMEs) in LatAm.
Bankme, Brazilian Fintech in credit infrastructure for "mini-banks", raised US$1.5M for the development of a new product. The funding will enable the development of a new product.
Hubla chooses Yuno for payment orchestration and increases conversion. Has teamed up with Yuno, a global payments orchestrator, in order to optimize its capacity and payment solutions.
COLOMBIA
Digital credit fintech ExcelCredit evolves to KOA, and receives authorization from the SFC to become a Neofinanciera in Colombia.
MEXICO
Briq.mx received authorization to operate under the Fintech Law in Mexico. According to Alberto Padilla, co-founder of Briq.mx, this platform allows investing in real estate projects with relatively small amounts.
URUGUAY
Montevideo cabs accept "account-to-account" payments via QR code. Uruguayan fintech company Prometeo worked to implement open banking technology in the capital's 3,000 cabs.
CHILE
Mercado Pago, the digital account of Mercado Libre, has announced a product in Chile that allows users to earn daily returns on the balance available in their digital accounts.