After several months developing, leading financial group Credicorp launched its digital banking unit iO to cater to young Peruvians.
JoinedJun. 9, 2022
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David is a Latin American journalist. He reports regularly on the region for global news organizations such as The Washington Post, The New York Times, The Financial Times, and Americas Quarterly.
He has worked for S&P Global Market Intelligence as a LatAm financial reporter and has built expertise on fintech and market trends in the region.
He lives in Buenos Aires.
Pix achieved the milestone of 3 billion monthly transactions in March, up from a previous record of 2.8 billion by the end of last year.
Mercado Libre will hire 13,000 new jobs this year, bucking a lay-offs trend. Most of the new employees will be based in Mexico and Brazil.
Brazilian Nubank reached 79.1 million customers in Latin America by early April. That is up almost 20 million compared to a year ago.
Venture capital funding to LatAm startups droped 70% to $1.3 billion in the quarter, down from $4.1 billion in the year-ago period.
Brazil's teenage-focused neobank Z1 received a $10.4 million investment to build new products to cater to young adults as well.
A year after launching in Colombia, Argentine neobank Ualá reached 200,000 customers in the country, its CEO Natalia Ríos told Fintech Nexus.
Nubank and Ualá expanded to Colombia to boost customer acquisition. Replicating success in Latin America is no easy feat for digital banks.
Walmart Mexico announced the acquisition of payments startup Trafalgar to strengthen its digital wallet initiative.
With payroll lending, Nubank blazes a trail into secured lending, an asset that bears less risk than credit cards and individual loans.