LatAm digital banking and fintech top stories this week: Itaú chooses cloud provider, Nubank offers life insurance, and more
Nubank launches “Vida”
The Brazilian fintech Nubank launched Nubank Vida, a life insurance policy, as it expands its service offering. According to the fintech, the policy has the lowest initial average cost in the market – only R $ 9.00 (US $ 1.72, approximately) per month – and it’s customizable. The service, underwritten by Chubb, can be contracted directly from the bank’s application and paid monthly.
Argentina set for QR payments 3.0
Transfers 3.0, a new national digital payment system, will go live in Argentina on Monday, December 7, to allow any business or company to charge for its services through QR codes. The interoperable tool launched by the Central Bank will allow all the fintech and banks in the country on the same platform.
Itaú Unibanco chooses AWS as its cloud provider
Banco Itaú has chosen Amazon Web Services (AWS) for cloud services. Itaú Unibanco will migrate most of its infrastructure and data centers to the cloud, in addition to its main banking platforms and mobile and online applications.
Card companies ordered to publish interchange fees in Chile
Chile’s competition regulator has ordered Mastercard, Visa and American Express to publish their interchange fees, charged for each transaction carried out with credit, debit and prepaid cards. Previously, the information on the rates was only known to the merchants and acquirers that worked with each company. The move comes amid upheaval in Chile’s payments system.
Belvo hires for payments
Key Fintech & Digital Banking News of the Week: CloudWalk and a55 Raise Capital; QED Investors launches a fund in LatAm.
Financing big-ticket purchases through “buy now, pay later” is a difficult model to get right in Latin America
This week’s key fintech and digital banking news
Messaging app with “gigantic power” gears up for Brazil entry
This week’s top: Nubank is rumored to be preparing a US IPO; Fintechs Merama and Warren raise big investment rounds.
Access to post-seed stage capital remains a challenge as the region’s ecosystem matures
- Most read in 2020: Fintech regulations, e-commerce, and pandemic impact
- Open banking a game-changer, say Brazil’s fintech lenders
- Digital banking and fintech news wrap: Open Banking advances in Brazil, Ualá and Mercado Libre take off, Google and Gates promote digital payments
- Brazil’s C6 Bank preps for commercial launch
- Bank or platform? Banregio’s digital bank aggregates services
- Chile heads towards open finance regulation