Mercado Libre has seen great success in providing financing to millions of people who struggled to obtain it through traditional lenders.
Just before lunch, after a morning of fireside chats at LendIt Fintech LatAm, was the heavy hitter Pierpaolo Barbieri, CEO, and founder of Ualá.
LatAm fintechs have a massive advantage over traditional financial companies: a lack of a robust, cost-heavy physical infrastructure that thwarts cross-border expansion.
The report found that the traditional playbook of developing branches and building relationships may count "for little in a world where a mobile phone is the principal' real estate', and word-of-mouth – often via social media – becomes the most powerful form of validation."
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