Here’s everything you need to know about what happened in LatAm digital banking and fintech this week
Banks | Payments | Argentina
Argentine banks nab Nubank exec for digital payments venture
Banco Santander, BBVA Francés and Banco Galicia are working on a new bank-based digital payments system. The new platform will be known as Play Digital, is set to launch in the second half of the year. The banks have snagged Rafael Soto from Nubank, where he was General Manager for Argentina for a year, to be CEO of Play Digital. Cronista broke the news and has the full story here.
Private Banking | Technology
Itaú signs with Temenos for private banking
Itau has signed with Temenos for an overhaul of its international private banking core, signing a deal to use Temenos Infinity Wealth and Temenos Transact for its US and Swiss businesses.
Banking | Cybersecurity
Ransomware attack on BCR
Banco de Costa Rica is reportedly being blackmailed by hackers that stole data from the institution in February, according to a Finextra report.
Fintech | Investment
Santander InnoVentures buys into a55
Santander InnoVentures has bought a stake in a55, a 2-year old startup that lends to technology companies in Brazil and Mexico. The investment – size undisclosed – is the fourth for Santander InnoVentures in Latin America. André Wetter and Hugo Mathecowitsch founded the company in Brazil in 2018.
Quona leads round in Colombian POS lender
Quona Capital has led a round in ADDI, a Colombian point of sale lender. The US$15 million round is the biggest yet for a Colombian fintech. ADDI hopes to use the capital to expand its product into Brazil and Mexico by year-end.
Sura AM lends to factoring fintech
Sura Asset Management has lent COP 35 trn to Exponencial Confirming, a Colombian digital factoring platform, for on-lending to SMEs. The pair are reported to be starting out with a beta test to 182 Colombian small businesses before expanding access to a target of 1,600 companies.
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
- HSBC Mexico’s digital strategy: New app, QR codes, and your Facebook likes
- Visa Acquires YellowPepper; Afterbanks comes to Latam; Fintechs in Colombia grow
- Financial inclusion in Mexico: Digital payments struggle to take off
- Gut renovation: Banco Galicia’s digital strategy
- Latam fintech investment turns virtual – mostly
- Fintech investment: Nubank, Neon top the table of 2020 financing rounds