👀 NEWS HIGHLIGHT
The card network company is boosting efforts to enforce surcharge rules, with non-compliance potentially resulting in fines up to $1 million, according to one card processor.
💡INSIGHTS
Penalties for lax controls in 2023 exceed those on traditional finance groups for the first time.
Crypto and fintech groups were for the first time fined more for lax controls than the entire traditional financial system last year, as global authorities cracked down on illicit money flows in finance’s new frontiers.
NOW, ON TO THE SUMMARY OF LAST WEEK'S NEWS
☕️ REGIONAL HIGHLIGHTS
⭐️ Thunes expands its leadership to accelerate growth.
⭐️ Neat reaches 50k users, collaborates with banks to integrate bill payments via credit card in Chile’s Biobío region.
⭐️ Visa pilots Web3 customer loyalty platform.
⭐️ Nu Colombia has received formal approval to operate a Financing Company in the country.
BRAZIL
Revolut Targets $60B in Brazil with Focus on Foreign Investment Services. Glauber Mota, the Country Manager, highlights the evolving demand for foreign investment services.
COLOMBIA
Nu Colombia cycling team to take over the country in 2024. The 2024 season we will be the official sponsor of the Nu Colombia professional cycling team in the elite categories.
Colombia Leads Digital Financial Inclusion with 20% Fintech Growth. The Tech Report 2023 that RapiCredit produces reveals a robust 20% growth in the fintech sector during the past year.
MEXICO
Mexico's Banorte to launch digital bank in January after regulator OK. The company plans to launch its digital bank product, called Banco Bineo, in January.
CHILE
Chilean Fintech Levannta Raises $10.5M to Strengthen Its Team and Prepare for Expansion. The company completed a US$ 2.5 million equity round led by Manutara Ventures and sealed a US$ 8 million debt facility with Ameris Capital.
MOVERS & SHAKERS
Volt appoints ex-Thunes Irina Chuchkina as Chief Marketing Officer. At Volt, she will be responsible for the global marketing strategy and building on Volt’s ambitious global expansion plans.
Klavi announces Rafael Simões as director to reinforce the areas of legal affairs and DPO. Simões will coordinate the activities of areas with a primary focus on data protection and banking regulation.