Miranda’s Mex FinTech Monitor
February 2, 2023
Mexico FinTech News
Bank Goes Digital to Challenge FinTechs
Invex announced the launch of their new digital bank, NOW, this week. Digital banks have become almost a necessity for traditional financial institutions to compete with FinTechs. Whitepaper shared an interesting graph on their Twitter account on the topic, showing how the number of users of FinTech and Neobank apps are reaching figures similar to those of Mexico’s biggest banks, even if revenues are far, far lower. Luis Pineda, CEO at Invex, says that they have found a “new space, which may become standard this year, which is to offer the best of banks and the best of FinTechs.” Invex has set the goal of reaching 1 million users within 2 years, calling for strong YoY growth in comparison to their peers.
Roberto Noguez, 2/1/2023, Forbes: Invex competirá con las fintechs en su misma cancha: lanza su banco digital
Staff, Whitepaper Twitter, 1/31/2023: El uso de las apps de algunas de las fintech y neobancos comienza a acercarse al de las aplicaciones que registran los bancos más grandes en este país
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