Mexican Fintech Report 2021
As the second-largest economy in Latin America, Mexico boosts a favourable ecosystem for fintech development and has gradually become a fintech leader in Latin America. The number of fintech start-ups in Mexico has increased by 23% since 2016 and reached 441 by mid-2020, attracting venture capital of more than USD 1.3 billion. However, as Mexico enters the era of fintech, fraud and credit risks are the main challenges facing online transactions and credit services. Fortunately, the local regulator has always kept a tight grip on the financial market and introduced advanced tools such as a regulatory sandbox from the UK and enacted laws for innovative technology industries.
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