#TopNews: This week’s top news in digital banking and fintech in Latin America
BCRA, Argentine banks test blockchain
The Central Bank of Argentina, along with commercial banks including Santander and BBVA, are exploring the use of blockchain technology for clearing and settling transactions. The entities are part of a group of participants conducting a proof of concept with IOV Labs, a startup run by Diego Gutierrez Zaldívar.
VC grew in Q1 in Mexico, despite crisis
Despite the dramatic economic paralysis caused by the coronavirus, venture capital in Mexico rose by almost 49% in Q1, compared to the first quarter of last year, making it the only economic sector that has grown.
Fintech apps overtake bank apps in Mexico
In Mexico, fintech applications are accelerating quickly, with 50% more monthly active users in 2019 vs 2018, according to new data. Bank app users grew by 35% in the same period.
‘DaviPlata’, the Colombian app that promotes mass digital transactions
Colombian can access government subsidies during the pandemic through Banco Davivienda’s “DaviPlata” app. The free transactions are free are another example of a trend in the region for governments to deliver aid for covid-19 through digital channels.
Bank call centers flooded with calls
Bank call centers globally are dealing with “large volumes of calls”, a scenario that has not only generated long waiting times, but also stretched employees and, in some cases, meant bringing on more staff. And while digital channels are promoted as an immediate solution, all-digital banks are often less-prepared than brick-and-mortar institutions to deal with a rush of customer calls, according to data from JD Power.
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The key fintech and digital banking news this week
No-touch card transactions soared in 2020 – and huge growth potential remains
Exclusive interview with Mastercard’s president for Latin America and the Caribbean
BCi hopes to generate new distribution channels through APIs
#TopNews: N26, Revolut take steps into LatAm, Creditas buys Bcredi, and more:
Digital payments, open banking and regulations will move the needle this year
- Digital banking accelerates in Peru
- Webinars: Fintech venture investment in Latam; Complexities in digital transformation; Peru VC
- Payments, open banking and regulation: priorities for fintech and digital banking 2021
- This week in digital banking and fintech: Argentine fintechs in regulatory spotlight; Nequi launches freelancer loans; New rounds for Dapp and Joinkey
- HSBC Mexico tests blockchain; Itaú goes live with PIX
- With partnerships, fintechs and FIs gain speed and innovation