There have always been good relations between the UK and Latin American countries, but there is still ample opportunity to develop trade relations and encourage capital investment. Last week, Canning House, an institution whose mission is to build understanding between Latin America and the United Kingdom, organized a meeting on the future of finance and investment in Latin America. financial technology.
Speakers shared their past experiences in Latin America, talking about what worked in the past and what didn’t. Countries such as Brazil, Mexico, Chile and Argentina are very attractive markets for foreign investment, however, the growth rates in the past 20 years have been lower than expected.
The focus of the conversation was on the growth opportunities that exist in financial services. JP Morgan, who hosted the evening, reaffirmed its commitment to the region, which began more than 150 years ago by establishing its regional presence in Chile. Martin Gilbert, Chairman of the Board of Directors of Revolut, spoke about his aspirations to take on the activities new bank to countries like Brazil and Mexico, and also showed great admiration for their Brazilian rival new bank Nubank, which already has 75 million users in Brazil, Mexico and Colombia.
Definitely the most innovative guest was Dinie, a platform with an infrastructure to offer credits in a simple and fast way. The founder and CEO of the platform, Susie Ferreira, stressed the importance of the availability of capital for our region and the importance of legislation to facilitate the development and growth of these new businesses.
In the future, banks will be platforms that provide financial services. This is a trend that has already been seen in some regions such as Asia. In Singapore, Grab, a leading mobility services company, started offering financial services through the platform and in 2020 obtained its banking license in Singapore. We’re starting to see it in some other areas, but focused services related to sustainability will gain more prominence and more capital.
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