Article: How Open Banking Guides LATAM’s Spend Management FinTech

Innovation, Money, Open Governance, Open Space

How Open Banking Guides LATAM’s Spend Management FinTech

Latin America is a quiet champion in FinTech innovation. While the region may not be top of mind when it comes to world leaders in financial technology, startups from Mexico to Chile are driving payments digitization, financial management automation and the emergence of new paradigms in the market, like open banking.

Investors are paying attention, too. While analysts assess 2020’s performance, the Latin America Private Equity and Venture Capital Association (LAVCA) said funding for the region’s FinTech startups more than doubled between 2018 and 2019, reaching $4.6 billion, with evidence that 2020 figures may emerge similarly as strong.

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