In its blog, a16z —a venture capital firm in Silicon Valley— reported on Latin America’s fintech boom, citing recent payments market research published by AMI.
Here is an excerpt from the post:
The status quo (in LatAm payments) is changing, especially after the pandemic. The factors propelling a change include:
- New consumer expectationsfrom the young and the increasing smartphone adoption.
- A Fintech-friendly regulationin many countries.
- The COVID-19 pandemicaccelerating digital payments.
- The presence of a real-time transaction infrastructure.
The adoption of fintech and banking has recently been accelerated in Latin America, reflected in the penetration of bank accounts:
Source: America’s Market Intelligence
The areas of opportunity a16z identified are:
- Creating an accessible fintech infrastructure.
- Modernizing business services.
- Making real estate more transparent and accessible.
- Pan-Latin American services.
Read the full story here.