Challenger Banks In South America News

Related Fintech Industry News

• November 2023: Stripe, a financial infrastructure platform for businesses expanded support for JCB, a leading card network in Japan and one of the top payment networks in the world. JCB is now available on Stripe in 39 countries and territories, making it easy for businesses in those markets to accept payments from 154 million JCB cardholders. 
• April 2022: Stripe, a platform for businesses' financial infrastructure, launched the Stripe Partner Ecosystem, a new partner program with top companies whose services help Stripe users do well in the internet economy.
• March 2022: The digital personal finance company SoFi Technologies, Inc. announced that it had finished buying Technisys S.à.r.l. ("Technisys"), a leading cloud-native, digital multi-product core banking platform. Technisys adds a unique, strategic technology and business to the SoFi family, bolstering SoFi in its pursuit to provide best-of-breed products as a one-stop-shop financial services platform and complementing and enhancing SoFi's Galileo business in SoFi's overall pursuit to build the AWS of fintech.

• February 2023: The German neobank N26, also active in Switzerland, was looking for an acquisition allowing its customers to trade stocks and index funds.
• January 2023: The German neobank Rukky announced it has filed for bankruptcy after less than three years in operation. The decision to file for insolvency came after Ruuky failed to secure fresh funding from either new or existing investors.

The buy now pays later payment platform has significantly increased during the COVID-19 pandemic due to the rise in purchasing the consumer's goods through the online channel during Lockdown. Moreover, an increase in customer spending on health treatment, a rise in the cost of luxury electronic products, and an increase in the use of online payments services are some of the important factors that will accelerate the growth of the buy now pay later market during the COVID-19 outbreak.

The COVID-19 pandemic has adversely affected the economies of various countries across the globe. International Monetary Fund Analysis has expected the global economy to shrink by 3% percent in the year 2021 compared to the year 2020. Due to decreasing GDP, the purchasing power of people across the globe is also expected to decrease. Over 20 million citizens in the U.S. have applied for unemployment benefits. Owing to all these factors, people across the globe may use BNPL platforms to pay their bills. The online transactions using BNPL platforms are also expected to increase during the forecast period.

July 2021 - Z1, a digital bank geared at Latin American GenZers based in Sao Paulo, has secured USD 2.5 million in a round led by Homebrew in the United States. Z1 is a digital banking software designed specifically for teenagers and young people. The company was formed on the idea that Brazilian and Latin American teenagers may become more financially independent by using its app and linked prepaid card. Z1 is focused on Brazil but the startup has plans to expand into other countries in Latin America over time.

June 2021 - Conductor, a leading payments & banking as service platform in Latin America, has announced the arrival of its technological platform in Mexico, considered strategic for the internationalization and global expansion of the company.

• March 2023: Gallagher acquired Brim, a specialty insurance and reinsurance broker that provides property/casualty insurance, credit and political risk, and affinity insurance products and services to its Scandinavian and international clients. Its credit and political risk practice provides financing support for major infrastructure projects, while its construction practice supports residential and commercial building development.
• September 2022: Trygg Hansa launched animal insurance. Pet insurance is a new product area under the Trygg-Hansa brand. The insurance company can now offer the entire family in the household, including the dog and cat, complete insurance coverage.

• March 2023: Gallagher acquired Brim, a specialty insurance and reinsurance broker that provides property/casualty insurance, credit and political risk, and affinity insurance products and services to its Scandinavian and international clients. Its credit and political risk practice provides financing support for major infrastructure projects, while its construction practice supports residential and commercial building development.
• September 2022: Trygg Hansa launched animal insurance. Pet insurance is a new product area under the Trygg-Hansa brand. The insurance company can now offer the entire family in the household, including the dog and cat, complete insurance coverage.

• November 2023: Stripe, a financial infrastructure platform for businesses expanded support for JCB, a leading card network in Japan and one of the top payment networks in the world. JCB is now available on Stripe in 39 countries and territories, making it easy for businesses in those markets to accept payments from 154 million JCB cardholders. 
• April 2022: Stripe, a platform for businesses' financial infrastructure, launched the Stripe Partner Ecosystem, a new partner program with top companies whose services help Stripe users do well in the internet economy.
• March 2022: The digital personal finance company SoFi Technologies, Inc. announced that it had finished buying Technisys S.à.r.l. ("Technisys"), a leading cloud-native, digital multi-product core banking platform. Technisys adds a unique, strategic technology and business to the SoFi family, bolstering SoFi in its pursuit to provide best-of-breed products as a one-stop-shop financial services platform and complementing and enhancing SoFi's Galileo business in SoFi's overall pursuit to build the AWS of fintech.

• Sep 2021: Neuberger Berman Group, an American asset manager, is the third foreign company to gain access to China's growing mutual fund market after the country's securities regulator granted its application to operate a wholly-owned mutual fund business on the Chinese mainland,
• April 2021: The SME Board was merged with SZSE's Main Board. The merger is an important measure adopted by SZSE to deepen the China'scapital market reform in all respects. It is of great significance for refining market functions, strengthening the foundation of the market, improving market activity and resilience, facilitating the market-oriented allocation of capital elements, and better serving national strategic development.

• February 2023: The German neobank N26, also active in Switzerland, was looking for an acquisition allowing its customers to trade stocks and index funds.
• January 2023: The German neobank Rukky announced it has filed for bankruptcy after less than three years in operation. The decision to file for insolvency came after Ruuky failed to secure fresh funding from either new or existing investors.

• August 2022: Tokio Marine & Nichido Fire Insurance Co. Ltd (TMNF) and JEPLAN Inc. announced that they formed a financial and commercial collaboration. In order to advance a circular economy, they seek to create new insurance services and products.
• August 2022: Tokio Marine & Nichido Fire Insurance Co. Ltd (President Shinichi Hirose) will start selling Earthquake Insurance "EQuick" Amazon Gift Card Edition* from August 2022. The insurance product provides a fixed payout based on seismic intensity and can be purchased utilizing Amazon.co.jp accounts.