By 2027, there will be 86 million fintech users in Mexico

Digital financier Finvero and the Open Finance 2050 program estimate that in 2027, there will be 86 million fintech users of digital payments in Mexico.

The announcement read, «As of today, Mexico registers 773 fintech companies, which represents a 19% increase compared to 2023.»

With a consistent growth rate of 18.4% between 2019 and 2023, Mexico’s fintech sector is now the second biggest in Latin America thanks to the rise of technology finance businesses.

“The key to the success of the sector lies in the ability of market players to integrate their strengths and create cohesive financial ecosystems that provide an exceptional experience for all our clients,” said Mario Hernandez, CEO of Finvero and Open Finance 2050.

According to Finvero, the financial industry is already making significant investments in cutting-edge applications like blockchain, artificial intelligence, and machine learning in order to boost operational security, improve customer experience, and increase operational efficiency. This indicates that the industry is aware that the technological revolution is still ongoing.

You may be interested in reading: https://financialtipster.com/2024/01/30/banorte-officially-launches-its-digital-bank-bineo/