 December 23, 2022 texThe most-used digital wallets in LatAmThis was the year of the wallet as growth and diversification reached unprecedented levels. Wallets went from being a way to bring digital accounts and electronic payments closer to users — many of them unbanked — to becoming multipurpose service channels. Here’s a rundown of the eight most popular wallets in 2022 and a brief explanation of how each one developed.  Revolut starts operations in Brazil. This is its strategyRevolut’s arrival in Brazil received a lot of attention, given its potential for heating up competition in LatAm’s biggest financial market. The neobank’s country head explained its initial strategy, which includes products targeted at travelers, taking advantage of open finance, and creating a talent hub in Sao Paulo. The app is not yet operational, but customers can join a waiting list.  Uber and Didi test alternative credits for the gig economyThese two ride-hailing platforms rivals have at least one common strategy: using alternative data to generate credit risk reports on users and drivers. The companies told us how they are turning driving reports and app usage data into loan leads as part of their foray into digital finance.  Digital payment trends of 2022: interoperability, crypto and cash-outThe predictions were proven right. Terms such as wallet interoperability, embedded payments and crypto cash were certainly pervasive throughout the year. And we can confidently predict these verticals will continue to grow in 2023.  Credicorp’s BCP hunts for crypto-based business modelsThe Peruvian financial services group’s opening gambit for virtual assets began in March with the hiring of Lenin Tarrillo as product owner of cryptocurrencies and blockchain at BCP, the country’s biggest bank. Since then, we have seen traditional financial players become increasingly interested in leveraging blockchain technology to create new products, in response to the growing demand from users in LatAm.   10-JAN 2023📅: What are the priorities in Chile? Find out where the regulatory scene is headed and what’s at the top of agenda at Banco de Chile with Alberto Towards 2023 📈Do you have a few days off? In 2023, financial services will continue to revolutionize everyone’s lives. We recommend you set aside some time to review two key resources and stay on top of the latest trends:  At least 11,000 banks in the SWIFT network will migrate to the new ISO 20022 cross-border payment language. In this report, we gather the opinions of Mexico’s digital banking leaders on building the next generation of digital payments💳  Virtual currencies are changing the way financial services are used. So, what are the challenges and opportunities that this scenario brings? 🤔 🪙Listen to our podcast series 🎧 “The future of money: Crypto, digital currencies and financial services” and Available on spotify, apple podcast and google podcast. |