Showing results 1 to 9 of approximately 9.(refine search)
Mexico’s ‘SOFOM’ Finance Firms Attempt to Broaden Loan Availability
The market presence of Mexican finance companies known as SOFOMES has expanded rapidly since the global financial crisis. The firms largely operate as independent outlets and provide financing to small- and medium-sized companies as well as to consumers for larger purchases. Authorities see SOFOMES as a way to expand credit to Mexico?s informal economy.
Mobile payments promise to improve financial accessibility in Mexico
Mobile phone-based financial services and other new technologies may hold the key to converting more of Mexico?s ?unbanked? residents, most of whom have traditionally operated outside the formal economy. Regulatory oversight of the new services is slowly evolving.
Mexico’s Nascent Fintech Offers Promise, Faces New Rules
The number of financial technology startups in Mexico has rapidly increased, promising to expand financial services to a large portion of the unbanked population. Officials are hopeful new regulations will aid the industry?s development.
Banks Face Growing Cybercrime Threat
Cybercrime is on the rise in the Eleventh District, with reported incidents jumping 15 percent to 31,185 in 2018 and losses increasing 69 percent to about $220 million over the 12-month period, according to FBI data.
Mexico Seeks to Reduce Consumers' Longstanding Reliance on Cash
Cash is king when it comes to completing transactions in Mexico. Unlike the U.S., where consumers opt to pay with debit and credit cards or via apps, Mexico and its large informal economy continue to rely on hard cash. A new digital payment platform from the nation’s central bank aims to reduce the role of currency.
Shadow banking reemerges, posing challenges to banks and regulators
Shadow banking has come roaring back and in new forms that still manage to escape bank regulation and could pose systemic risks since these activities remain deeply intertwined with traditional banking.
Go Figure: Mexico Struggles to Move into Digital Payment Age