Finnosummit 2023

Key Takeaways

Investment Landscape for Fintechs

Fostering sustainable growth in the tech and startup sector is imperative to continually attract investments to Latin America (LATAM), especially in the midst of global competition for allocating funds across regions. This year’s FINNOSUMMIT explored how established companies must effectively capitalize on, and demonstrate returns from, the products and solutions developed in recent years. It’s essential to not only emphasize Latin America’s creative potential, but also showcase its track record of delivering, solid results and sustainable profits.

The region holds significant untapped potential in various sectors yet to be explored fully. Furthermore, Latin America’s prominence on the global stage has increased, with cities like Mexico City and São Paulo aiming to attract talent by leading tech companies.

Key Takeaway: Prioritize the core fundamentals and value propositions offered by techs and start-ups. As available funding becomes scarcer, every investment must yield quick returns, intensifying the competition among tech and start-up ventures to attract capital.

Global trends applied to Latin America

• The ongoing collaboration between fintechs and banks could revolutionize the consumer experiences. Fintechs may be positioned to lead in driving competition and fostering innovation across the region; LATAM fintechs are expected to target a substantial portion.
• Generative AI is expected to have significant impact on the global payments landscape, particularly in critical areas like productivity enhancement, fraud prevention, and the enhancement of customer experiences.
• Embedded Finance and digital wallets are revolutionizing the financial landscape by seamlessly integrating financial services into non-financial platforms. This transformation is redefining how transactions occur, with mobile and digital wallet experiences taking center stage.
• The world is in the midst of a global data revolution. This evolving trend has enabled more effective utilization of data, thereby facilitating improved interactions with customers, suppliers, and other stakeholders. Additionally, it’s imperative to address how the intelligent and strategic application of data is bolstering companies’ competitiveness.
• The industry’s primary challenge today centers around optimizing data processing for personalized outcomes. Success hinges on advancing technology capable of handling diverse data types and large volumes effectively. Moreover, a well-defined strategy is essential to harness this data’s potential for generating substantial added value across multiple industries and companies.

Key Takeaway: capitalize on emerging technologies, as startups excel at agility and swift adoption.

Financial Inclusion

Mexico presents ample opportunities for the country to foster financial inclusion. The primary challenges hindering progress in financial inclusion are the limited access to information, a deficit in formal education, and a lack of financial literacy¹.

Key Takeaway: Financial inclusion is everyone's responsibility.

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