The key fintech and digital banking news this week: Credicorp will internationalize its fintechs, Fintechs raise capital, and more
Credicorp to expand fintechs to Peru and Chile
Credicorp, the Peruvian financial holding company, will expand two of its fintechs internationally. The first is tyba, its Colombian investment platform that will soon launch in Peru, in alliance with Banco de Crédito del Perú (BCP). The second is Wally, an electronic invoicing platform that will launch in Chile.
EBanx begins operations in Central America
The Brazilian payment processor Ebanx launched operations in Central America, with Costa Rica as its starting point. During the first half of 2021, the fintech will continue to expand to other countries such as El Salvador, Panama, Guatemala and the Dominican Republic.
Chile’s Migrante raises capital
Migrante, a Chilean fintech that lends to foreigners in the country, has closed a CLP $ 20 billion (US $ 27 million, approximately) funding round. In parallel, the startup also raised US $ 2.5 million in convertible notes. The company has already loaned about US $ 18 million for auto loans, rental guarantees and personal loans.
Mexico’s Baubap closes round
The Mexican lending fintech Baubap closed an investment round for US $ 3 million led by Alfin, a Mexican financial group. With the injection they hope to expand their services from microcredits. Baubap offers loans using alternative data to generate credit records.
Máximo will offer cards for teens
Máximo, a Peruvian fintech that issues virtual cards, also closed a US $ 250,000 investment round, led by Inca Ventures, and two other angel investors. The startup, which hit the market in January, will soon launch an exclusive Mastercard for teens, they said in a press release.
Banco Internacional will work with Surecomp to boost financing
Banco Internacional in Ecuador has partnered with Surecomp, a provider of treasury and financing tools for banks and corporations, to improve their trade financing process, implementing the cloud-based Trade Finance as-a-Service solution.
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With incoming open banking rules, Chile’s regulator aims to lay the foundations for collaboration between players in financial services.
Key fintech and digital banking news this week: Brazilian digital wallet PicPay adds 50 million users; MACH and EBanx partner; and more.
Regulation “still has room for improvement,” say fintech experts
#TopNews: The key fintech and digital banking news this week
But credit must be paired with financial health tools, say industry leaders
But not all regulators see them as necessary to drive innovation
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