The President of the National Banking and Securities Commission (CNBV), Juan Pablo Graf Noriega, spoke about the importance of technology for the transformation of the financial system and took the view that the implementation of the law regulating financial technology institutions ((also known as the Fintech Law) brings Mexico to the top of the world. This was reported in an article in Milenio on September 3rd.
According to the release, Count Noriega said the CNBV had worked to make the fintech sector a reality by analyzing business inquiries for the payment and collective finance sectors.
“”The importance of technology in the transformation of the financial system that is taking place worldwide and in Mexico, where we have taken important steps In order to make technology a disruptive element, so that competition in the financial system and financial inclusion in our country increase significantly, we have given ourselves a legal framework for the fintech sector that is very important, innovative and leading in Latin American countries with very important components, “commented the official.
It should be noted that so far There is a record of around 90 fintech companies sending their request to the CNBV to operate in Mexico under the law governing the fintech sector.
Count Noriega also stated: “We know that there are many ideas on how to make financial services more accessible to the whole population, such as the sandbox to encourage these new ideas and make them grow. They are part of the fintech law and the developments in other countries that will be of great importance in the future ”.
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