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The health crisis delayed the consolidation of fintech companies in Mexico

August 17, 2020

The coronavirus Covid-19 pandemic has delayed the consolidation of fintech companies in Mexico and put some companies at risk. This is what La Jornada reported in an article by Julio Gutiérrez, who took the general director of the Mexico Fintech Association, Luis Silva, as a source.

Apparently, the health crisis has slowed the consolidation process as some requests for operations were dropped from the National Banking and Securities Commission (CNBV).

“The pandemic has delayed consolidation. In a scenario without Covid-19, permits would already be in place for some of the 95 companies that have applied for an operating permit at this point. Most would already have resolutions, but the epidemic has delayed the problem. The CNBV announced three delays and maybe the permits will be released in the next few weeks, “they said in the release.

The health crisis delayed the consolidation of fintech companies in MexicoThe health crisis delayed the consolidation of fintech companies in Mexico

“”Silva thinks it likely that authorities will get a clearer picture of the situation and regulations next October, and in 2021 the country’s fintech sector will be consolidated”They added later.

For Silva, while there has been unexpected growth in platforms that focus on savings, payment methods, and cybersecurity, there are others such as: B. Collective finance, which is challenged when you consider that investments or capital attractions are there at a very uncertain time.

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