FINNOSUMMIT to bring Latin America ’s
most advanced Fintech startups to Miami
(Latin America Business). Arguably one of the most successful fintech conferences in Latin
America , FINNOSUMMIT Miami will bring together cutting-edge
industry players to discuss opportunities in the sector on November 9.
Organized by fintech startup accelerator Finnovista, the aim
of FINNOSUMMIT Miami is to analyze disruptive tech innovations in the Latin
American financial ecosystem as well as debate the future of regulation within
the region.
To do so many are looking to Mexico’s new Fintech Law for
guidance, which aims to regulate the sector – particularly crypto-currencies –
to protect against money laundering and financing extremists.
“Once/if they adopt it, Mexico will be the first country in
LatAm to have a formal fintech law, which regulates not all fintech activity
but some of it,” said Finnovista and Startupbootcamp Fintech Mexico City
co-Founder Andres Fontao, adding, “Mexican law, as it stands now (the draft
law) would regulate currencies, crowfunding, and open banking quicker, and
would include the concept of a regulatory sandbox [a testbed for fintechs to
operate under].”
In Mexico
alone, new fintech startups could carve out 30% of the banking market in the
coming decade. According to Inter American Development Bank, Latin
America as a whole boasts more than 700 fintech startups. And the
market is growing fast – 60 percent of the startups were founded in the last
three years.
FINNOSUMMIT will bring Latin America ’s
most advanced fintech startups to Miami
for the first time. This includes the selected finalists for Visa’s Everywhere
Initiative.
Visa’s Everywhere Initiative traveled across Latin America
in August and September in search of the innovative fintech startups that meet
the needs of the local market – think solutions that innovate for the unbanked,
a group made up of 400 million people in Latin America.
Semifinals were held in Mexico City ,
Buenos Aires , Santiago ,
Bogota and Sao
Paulo , after which 10 startups were chosen to
represent the top talent at a 4-day immersion program. They’ll present their
projects in the final at FINNOSUMMIT, and compete for a grand prize of $50,000
USD.
Notable attendees at the event include CEO and co-Founder of
Startupbootcamp FinTech, Nektarios Liolios, and Jim McCarthy, the Global Head
of Innovation & Strategic Partnerships of Visa Inc.
Investors include Principal of QED Investors Mike Packer,
co-founder and Managing Partner of IGNIA Alvaro Rodriguez, and Johanna
Posada,the co-founder and Managing
Director of Elevar Equity. To see a full list of speakers, click here.
TOP 10 FINALISTS FOR VISA’S EVERYWHERE INITIATIVE
alegra – (Colombia )
Alegra is a cloud accounting app for SMEs. It allows them to invoice, control
expenses, and develop intelligent reports, among other things.
Bankity Card (Colombia )
– Bankity Card is the only card in Latin America that’s
integrated in real time with a powerful Personal Financial Management app. With
it, users can manage their savings according to their spending trends.
Increase (Argentina )
– Increase is on a mission to promote technological solutions that bring Latin
American businesses together. One solution is the IncreaseCard, which
modernizes how businesses control their card operations.
OrganizaMe (Chile )
– OrganizaMe provides SaaS applications
to help SMEs and entrepreneurs manage their finances. The company offers three different plans,
depending on the size of the business.
Pipol (Chile )
– Pipol is a mobile payments platform that enables people and businesses to
pay, send, and receive money using their smartphones, a webpage, or POS
systems.
Saffe (Brazil )
– Saffe lets people pay with a selfie. The company leverages facial recognition
technology to make payment more secure. Merchants recieve payment directly to
their smartphones.
T&E Express (Argentina )
– T&E Express enables companies to manage their expense claims – from requesting
advances, to logging milage.
Übank (Chile )
– Übank is an automated savings solutions that helps people save according to
their lifestyles. It empowers users to save small amounts of money during their
daily activities, to see real results at the end of the month.
Uniko (Mexico )
– Uniko offers users a new way of giving
and receiving gifts, by enabling them to exchange gifts for money.
Vérios (Brazil )
– Vérios enables users to automate the management of individual portfolios, to
make investments simpler.
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