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Fintech

Fintech

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This entrepreneur sees himself as a pioneer in using the Bitcoin technology in Mexico. Pablo González's reason for creating Bitso was very clear: democratize access to finance and extend it to the country's entire population. He is one of the 33 innovators in the ebook 'Hablan los protagonistas' (The key players speak).

It's a curious phenomenon. Technology can reach the remotest places on the planet, where even the most basic commodities cannot.

In Sub-Saharan Africa, 12% of adults –64 million people– have an account on their mobile phone, 10% more than in the rest of the world (2%). The financial inclusion of the entire population in many countries is becoming a means of furthering their development. The goals of promoting access to banking services are among those underpinning the initiatives supported by BBVA in the field of fintech, including competitions for emerging companies such as BBVA Open Talent.  

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Within the banking ecosystem there are two types of agents: players and audiences. The first group creates financial products and services, and are formed by banks, regulators,  fintechs and traditional providers. The second agent is the audiences that the product or service created by the players is targeted at, and is formed by customers, industry, shareholders and governments.

It is much more than a short-lived affair or a passing infatuation. It’s not Her, the movie in which Joaquin Phoenix falls heads over heels for his virtual assistant, but it sounds somewhat like it. In the Turkish market, new mobile banking apps are downloaded millions of times very quickly after launching. But, how did the country become the perfect market for new fintech solutions?

After receiving a full banking license in June 2015, Atom Bank became UK's first mobile-only bank. The bank is due to launch shortly in Great Britain, sometime during the first quarter of 2016. In this Bank NXT podcast, Atom Bank CEO Mark Mullen talks about user experience, the importance of mobile technology in the banking business and, ultimately, about the future of banking.

The outlook is promising for fintech companies in Latin America, and yet there are a series of challenges and conditions that still need to be overcome before innovation, technology and entrepreneurship can realize their full potential and offer more and better services, and create a more inclusive financial environment.