These financial technology companies will be a trend due to their innovative commitment. Some of this Fintech to take into account in 2022 are Latin American.
In Latin America there are 1,524 fintech companies, including the five that managed to become "unicorns" this year. Photo: Pexels
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Leer en español: Estas son las Fintech a tener en cuenta en 2022
Financial technology companies (fintech for its term in English) took the world by surprise in the last decade, to such a degree that regulations in Latin American countries are less than 3 years old and have not yet finished adjusting to the reality they represent. Business. According to the report "Evolution of the fintech sector in Latam" by Finnovista and Mercado Pago, there are 1,524 fintech companies in Latin America, of which five stand out that managed to become "unicorns" in 2021.
Las #Fintech han abierto la posibilidad de realizar trámites, solicitudes de créditos y otras transacciones a través de internet por medio de un smartphone .— Coru (@Coru_mx) June 9, 2021
Así, millones de personas que no estaban bancarizadas ahora tienen acceso a servicios e instrumentos #financieros. pic.twitter.com/auGPTwWPDV
Challenges of fintech
Among the challenges of these companies are the financial education of users, low banking, distrust of financial institutions, and technological inclusion. In addition, although all technology companies are usually included as fintech, in reality, there are differences that create ecosystems within the same concept, according to the same Finnovista report. Thus, we can also find fintech focused on insurance ( insurtech ), loans ( lendingtech ), payments (paytech) and wealth management ( wealthtech ) that have the advantage of harmonious interaction within technological advances and competition.
Disruptive fintech in Latin America
The Fintech sector in the region has had constant growth, the new Latin American unicorns are a sign of the momentum that exists, which is added to the national regulations that allow competition. Considering their importance, we have selected eight fintech in Latin America that will undoubtedly be a trend in 2022.
Avista is considered by Forbes as one of the 50 most inclusive fintech companies in the world, its work in granting loans to low-income groups has not gone unnoticed. Pensioners, peasants, and housewives have achieved an opportunity thanks to Avista loans, which from 2020 to 2021 has tripled its financing grant, all 100% digital. For 2022 the perspective is to continue growing their numbers to continue financing vulnerable groups, some of them even with bad credit history.
#FintechNews Nos complace anunciar que fuimos seleccionados por la iniciativa Inclusive Fintech 50 de @CFI_Accion como una de las #Fintechs más incluyentes del mundo. https://t.co/bUxVOGTOBI#Avista #Colombia #Fintech #InclusiveFintech50 pic.twitter.com/uwS7i6780t— Avista Colombia (@AvistaColombia) October 27, 2021
Nubank offers credit cards and savings accounts (the latter in Brazil). It has a fully digitized 24-hour service and its alliance with Mastercard allows the user to access a gold level card. From Brazil, it has successfully expanded to Mexico and is consolidating in Colombia where it is in the beta phase, so in 2022 it will seek to grow in this country and maintain its success on the stock market where it recently began trading.
This fintech of Mexican origin was born with the aim of giving an opportunity to people who need to rebuild their credit history, the card evaluates its performance and allows the user to access credit increases and lower rates, in addition to recovering the confidence of the financial system. It has managed to partner with American Express to launch a card with its license that allows the user to access the benefits of the brand. By 2022, it seeks to maintain its growth by consolidating the integration of open banking, that is, the consultation of personal financial information in a secure and digital way with a license from customers.
Hacer feliz a tus seres queridos cuesta muy poco; una sonrisa, un abrazo y ese detallito que les encantará. ☺️— Vexi-Tarjeta de Crédito (@veximx) December 15, 2021
Con tu Tarjeta Vexi American Express hazlo #Multiposible
Únete: https://t.co/vF0gHdSSux pic.twitter.com/e4cedQTZBg
One of the new unicorns of the region, Konfio is dedicated to granting loans to small and medium-sized companies, its work gives financing opportunities to entrepreneurs and other companies that need to grow. This is especially relevant in a region where access to financial services in traditional banking is difficult.
Finaktiva's plan is to become a neobank focused on entrepreneurs, its objective is to cover the lack of financing that exists for this sector, either due to its little or no credit history or due to the large number of requirements of traditional banking. By 2022, it expects to see the results of the investment rounds achieved this year, which, according to Forbes, include $ 8 million that will be used to improve its technology, it also hopes to expand its market reaching countries such as Mexico.
¿Por qué Factoring?— Finaktiva (@finaktiva) December 17, 2021
El factoring permite que los empresarios puedan trabajar con su propio dinero, sin tener que esperar a que sus clientes paguen. Lo cual implica la mejora en la toma de decisiones y el avance en los proyectos de la empresa.
¡Regístrate! https://t.co/xy0BRUfcP6 pic.twitter.com/3uvXCw68v6
Kueski's strong suit are loans in different modalities, either as immediate loans or as loans for online purchases for users who do not even require a bank account. The application has become popular in Mexico where they have operations so far, in 2021 they have raised more than $ 200 million in investment that will be allocated to technology and they do not rule out opening operations outside their country of origin.
In association with Mastercard, Máximo is a Peruvian fintech that has launched a card focused on the gamer market, the "Máximo League of Legends Esports" in association with Riot. The latter is dedicated to the development and organization of electronic tournaments, according to data from Latam Fintech, the Latin American gamer market represents about $ 7.2 billion, a growth potential that Máximo has not neglected. The card offers discounts and cashback exchangeable for digital money (Riot Points) useful for the gaming platform.
Un adelanto de lo que se viene en #Máximo, quienes junto a #RiotGames han creado la primera tarjeta exclusiva para gamers en LATAM.#mastercard #fintech #ewallet #esports #gamers #cashback #LOL #priceless #peru #latam #flutter #mobile #app @flutteristas @FlutterDev pic.twitter.com/rSfyQv9W0b— Melissa Casas (@marimeli_) November 30, 2021
With an investment of $ 230 million dollars, Xepelin aspires to consolidate itself in Latin America where it already has a presence in Chile and Mexico. His work consists of loans for small and medium businesses, a concept similar to that of Finaktiva or Konfio, offering there is financing through factoring , a type of credit towards companies that is backed by the accounts receivable of the companies that request the loan. This has allowed it to grow with numbers of up to 30% per month so far this year, according to information from La Tercera.