Mario Chao, CEO of NTT DATA Mexico, pointed out: “There are numerous studies globally, which talk about what happens in the world of fintech, in the region, in Latin America and always in Mexico they gave us two or three paragraphs or a pastern; We have been in Mexico for 20 years and we are the fifth technology company in the world, but we are not only here to do business or projects with our clients, we are also interested in seeing what is happening in our community and seeing what we can contribute to society. ”.
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“In this way, the idea of preparing this report arose, to find out what was happening in Mexico, not only from the perspective of fintech companies, but also from the entire ecosystem that surrounds this type of solution, such as traditional banking, but also what was being done at the regulatory level, how did these institutions cooperate with each other to offer a better service to users, as well as analyze the social aspect, to provide a kind of compass for the sector”, commented the manager.
When presenting the Annual Report Fintech Mexico 2023, Luis Olmedo, NTT DATA Strategic Value Americas Europe & LATAM Partner mentioned that five areas were addressed: Introduction, with the history of fintech; Numerology; Deals & Agreements, which are boosting the market like those of traditional banking with fintech; Trends and Regulation.
In the study, they realized that the main challenges for the development of the Fintech ecosystem are regulation, technology, human capital, financial capital and competition.
The regulation stands out because thanks to the Fintech Law promoted in March 2018, the fintech sector has been able to develop, according to specialists; however, being a technology-focused ecosystem, it is constantly advancing, which means that it is always a few steps ahead and therefore it is necessary for the legislation to be updated on some points.
