The future of finance in LatAm & the Caribbean

Banorte will launch a fintech; Banco Inter competes with Rappi

Mar 19, 2021

By Fabiola Seminario
The key fintech and digital banking news this week: Mexico’s Banorte will launch a fintech; Brazil’s Banco Inter launches a delivery service


Banorte goes digital with new fintech

Mexico’s Banorte plans to create a new digital bank that will compete with the rest of the players in the fintech sector, according to Marcos Ramírez, its CEO. The strategy, he indicated, is part of its commitment to be the number one digital bank by 2023, and is additional to the project it has in conjunction with Rappi.

Banco Inter launches delivery service

Brazilian fintech Banco Inter has launched a home delivery service, to compete with apps such as iFood and Rappi. The bank, which will offer this functionality through its ecommerce platform Inter Shop, also incorporates a cashback offer, where the user will receive a commission for the purchase directly in their account.

Lumu Technologies closes round for US $ 7.5M

Colombian cybersecurity startup Lumu Technologies closed its Series A financing round for US $ 7.5 million, led by SoftBank Group Corp’s SB Opportunity Fund and Panoramic Ventures. The startup, which uses cloud and AI to analyze dense data, will use the resources for research and development.

See also: 4 Key Trends that will Define LatAm Payments in 2021

BancoEstado will digitize four products from its portfolio

Chilean lender Banco del Estado plans to digitize its CuentaRUT products, savings accounts, commercial loans and mortgage loans, its general manager Juan Cooper has said. At the same time, the financial institution will also enhance its payments network, CompraAquí.

Auriga presents a solution to digitize bank branches

The software company Auriga launched Bank4Me, a remote banking technology that allows access to banking services in self-service mode, facilitating access and service to customers remotely, 24/7.

See also: Bank-fintech interoperability hits the agenda for Peru

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