The Latin American digital banking market is estimated to grow at a significant growth rate of 7.3% over the forecast period. The mobile networks have been the key enabler to bring connectivity to the country through a government program for promoting universalization of the internet in Brazil. The increasing uses of mobile networks are also augmenting the digital banking market. Over the years the mobile networks have been the key factor to bring better digital solutions in the banking sector. This environment is creating a growth opportunity for challenger banks, also known as neobanks, in the region to capture dissatisfied clients with mobile, feeless cards and allow them to access financial services without ever dealing with a bank teller.
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Brazil’s neobank, Nubank, is one of the most installed digital banks in the region, valued at $10 billion after successive funding rounds led by China’s Tencent. In addition, Argentina’s neobank Ualá is popular and users have downloaded this app in every province of the country within two weeks of its launch, leading to their $150 million round led by Tencent and Softbank. Mexican neobanks albo and Klar also raised significant Series A rounds $19 million and $57.5 million respectively, from US investors in 2019. Despite banking advancements throughout Latin America, cash remains unequivocally the foremost payment method— especially for low-ticket, everyday transactions.
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- Market Coverage
- Market number available for – 2023-2029
- Base year- 2022
- Forecast period- 2023-2029
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Market Segmentation
Latin American Digital Banking Market by Type
- Corporate Banking
- Investment Banking
- Retail Banking
Latin American Digital Banking Market by Solution
- Processing Services
- Payment
- Customer and Channel Management
- Risk Management
Regional Analysis
- Brazil
- Argentina
- Mexico
- Rest of Latin America
Company Profiles
- ACI Worldwide, Inc.,
- Atos SE
- Backbase BV
- Broadridge Financial Solutions, Inc.
- Capital Banking Solutions
- Fidor Solutions AG
- Fiserv, Inc.
- Kony, Inc.
- Microsoft Corp.
- NCR Corp.
- Oracle Corp.
- SAP SE
- Sopra Steria Group
- Tata Consultancy Services Ltd.
The Report covers:
- Comprehensive research methodology of the Latin American Digital Banking market.
- This report also includes a detailed and extensive market overview with key analyst insights.
- An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
- Analysis of regional regulations and other government policies impacting the Latin American Digital Banking market.
- Insights about market determinants which are stimulating the Latin American Digital Banking market.
- Detailed and extensive market segments with regional distribution of forecasted revenues.
- Extensive profiles and recent developments of market players.
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