Mexico Financial Technologies

With over 650 fintechs, Mexico is currently the largest fintech market in Latin America after Brazil and Colombia. Mexico’s Fintech law regulates the following services: crowdfunding and peer-to-peer (P2P) lending; electronic money services; virtual assets; application programming interfaces (APIs); and open banking.

The sector’s major opportunities are in the following sub industries per market share: Fintech as a service (41%); P2P and mobile payments (32%); crowdfunding and personal loans (16%);  financial assets (5%); Insurtech (2%); Wealth Management (2%); and independent digital banks (2%).

The growing number of Mexican micro-financial institutions also represents market opportunities for U.S. companies looking to provide financing, consulting, risk management, and banking technology. As the industry continues to evolve, micro- finance firms will seek to improve efficiency, track operations more accurately, increase transparency, and acquire new clients. 

Please contact Sylvia Montano at sylvia.montano@trade.gov for further information about opportunities for U.S. exporters in the fintech market and details about a specialized fintech event in February 2024.