#TopNews: Here’s the Latin American digital banking and fintech news that you need to know this week
HSBC: Fewer branches, but more mobile users
By 2022, HSBC aims to have doubled its number of mobile users. The bank hopes that most of its clients’ financial dealings are digital, with branches reserved for “more complex” operations. The plan could cut costs by $ 4.5 billion.
E-commerce and Digital Payments: Surging ahead
Covid-19 has given the online payment ecosystem a major boost. In Brazil alone, Visa has 5 million new customers thanks to the deployment of e-commerce, according to CyberSource.
And in Colombia, the leap in e-commerce has driven demand for digital payments, a trend that will continue once the confinement is over, according to an analysis by Mercado Libre. In the last three months alone, Mercado Pago Colombia received more than 350,000 new customers.
You might also like: Rappi & Banorte: JV aims to offer financial services on a massive scale
Greensill buys 100% of OmniLatam shares
Greensill, a London finance company, has acquired OmniLatam and Portafolio Omni (Chile) and OmniBnk (Colombia), SME-financing fintechs. With the acquisition, Greensill hopes to position itself as a Supply Chain Finance company in the region.
Naranja X launches virtual wallet to the market
Naranja X, the fintech arm of Naranja, an Argentine financial company, presents its first prepaid digital wallet with Visa, a product that can work both physically and for online purchases.
You might also like: Amid Covid stress-test, investors keep betting on LatAm fintechs
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.
Changes in regulation and technology are moving financial services towards open banking in Latin America
#TopNews: Here’s the LatAm banking innovation, payments and fintech news that you need to know this week
Here are next week’s unmissable digital events for LatAm banking innovation and fintech leaders
Transfiya, a new instant payment system built by the fintech Minka with ACH Colombia, is gaining strength, but challenges remain.
#TopNews: Here’s what you need to know in LatAm fintech and digital banking this week
Here are the unmissable digital banking and fintech webinars next week
- Bank or platform? Banregio’s digital bank aggregates services
- Coronavirus: Demand for fintech loans jumps in LatAm
- Creditas expands products, plans for busy quarter
- Language barrier hurts LatAm fintechs in global competition
- Coffee, banking, and a new sales channel in Bolivia
- Mercado Libre struggles with bad debt in Brazil