#TopNews: Here is the LatAm digital banking and fintech news this week that you need to know
Argentine fintechs accused of predatory lending: Regulation ahead?
‘Abusive’ rates: This is how some media describe the interest charged by Argentine lending fintechs, after the data was released by the Central Bank. As a result, talk is growing of stricter regulations for the sector. You can also read the fintech objection here.
Nequi launches line of credit for freelancers
Nequi. Bancolombia’s digital spin-off, has launched a loan for independent workers with amounts ranging from COP $ 300,000 (USD $ 80) to COP $ 4.5 million (USD $ 1,193). The new credits respond to a lack of credit options for microenterprises in traditional banking, and it is a joint effort with the National Guarantee Fund (FNG).
Digital banking, digital payments continue to boom
More than half of banking consumers (57%) now prefer virtual channels to access financial services, according to a report from the World Banking Retail Report 2020. In addition, 55% of them are making greater use of the Mobile banking.
This is held up in Latin America by new data fro Argentine payment system TodoPago, which reports that the use of its new form of contactless payments has grown by 275% during the pandemic. TodoPago’s “Payment Button” has reached a generous deployment in the country’s provinces, in some cases exceeding 1000% growth, the company reports.
Dapp, Joinkey raise investment rounds
Joinkey, a Brazilian sales management fintech has just closed its first investment round with PagoLivre, a company specialized in recurring payments. The company will also provide a corporate structure for the startup to reach more than 100,000 clients in its first year of operations.
Dapp, a Mexican QR payment fintech, has raised an investment from the G2 Momentum Capital. The venture capital fund has invested an undisclosed amount and will also provide consulting to accelerate the startup.
Are you subscribed to our weekly newsletter? Click here to do it. Every Monday we will send you a special report on the fintech sector in Latin America. You can also follow us on LinkedIn and Facebook.
Interview: Jorge Arbesú, VP of Cyber and Intelligence, LAC, Mastercard
#TopNews The key fintech and digital banking news this week: Sabadell and Movistar partner in Mexico; AlphaCredit receives investment; and more
Wanted: Financial services for on-demand workers and platforms
Insurtech startups move away from distribution and lead-gen
The key fintech and digital banking news this week
No-touch card transactions soared in 2020 – and huge growth potential remains
- Citibanamex innovation: A work in progress
- Carlo Enrico: “Trust is the new currency”
- Open banking: Regulations and technology push change in LatAm
- Mexico’s fintech law makes waves as global partners seek opportunities
- BancoEstado plans wallet, aims for scale with ComprAquí
- N26, Revolut take steps into LatAm, Creditas buys Bcredi