2018 BigTech: The Coming Disruption of Latin America’s Banking Sector - BigTechs have Rolled Out Payment Services through Mobile Solutions - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Nov 12, 2018--The “BigTech: The Coming Disruption of Latin America’s Banking Sector” report has been added to ResearchAndMarkets.com’s offering.
Financial technology firms haven’t displaced traditional banks and insurers in Latin America so much as forced these incumbents to stop paying lip service to innovation and truly transform digitally.
In fact, far from being competitors, many of the region’s banks have incubated or partnered with fintech startups that are popping up by the hundreds in Latin America. (Brazil, with over 370 startups, has the largest fintech ecosystem, followed by Mexico with 238, according to Finnovista.)
By partnering with banks, fintechs can have access to a broad customer base and solid funding. Incumbents, in turn, can offer their clients a slew of apps and customer-facing technological solutions that they failed to develop in-house.
In the meantime, a similar but perhaps deeper disruption has begun to take place. Big tech companies like Amazon, Facebook, Google and Apple in the US, Alibaba and Tencent in China, and Latin America’s own MercadoLibre are starting to offer financial services.
These BigTechs, which have a large customer base and very deep pockets, have rolled out payment services through mobile solutions (Apple Pay, Alipay, WeChat Pay, MercadoPago) and lending platforms for small businesses (Amazon Lending, MercadoCrdito).
Of course, it’s one thing to offer retail payments and small business loans, and quite another to process transactions for multinational corporations across several jurisdictions. The BigTechs’ lack of financial expertise is an incentive for them to partner with incumbents.
Companies FeaturedAlibaba Amazon Apple Facebook Google MercadoLibre Tencent
Key Topics Covered1. Index
3. Why Ecosystems are the Future
4. The Homegrown Competitor Blinking on the RadarTable: MercadoLibre in 1Q18
5. How Technology is Abetting DisruptionOpen Banking and APIsBlockchainArtificial IntelligenceQuantum ComputingTable: Tech Investments
6. Banks and Fintechs, Happy Together?More Friends Than FoesGraph: Fintech M&A Deals in Latin America
7. The Rules of the GameBarrier and BufferLegislative Drives In LAC
8. ConclusionFor more information about this report visit https://www.researchandmarkets.com/research/s57kmv/2018_bigtech_the?w=4
View source version on businesswire.com:https://www.businesswire.com/news/home/20181112005347/en/
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KEYWORD: CENTRAL AMERICA SOUTH AMERICA
INDUSTRY KEYWORD: TECHNOLOGY OTHER TECHNOLOGY PROFESSIONAL SERVICES BABY/MATERNITY FINANCE CONSUMER
SOURCE: Research and Markets
Copyright Business Wire 2018.
PUB: 11/12/2018 07:18 AM/DISC: 11/12/2018 07:18 AM