Latin America is one of the regions with the lowest penetration of banking in society, and that is why fintech, especially neobanks, have been growing rapidly, with Brazil being the country with the greatest reach of technology at the time of managing the finances.

What benefits do the users of these neobanks value? While in Argentina, Colombia and Mexico the main perceived advantage is the 24-hour operation, in Brazil what is most valued are the lower costs. Second, in all countries, speed appears.

Argentines still value traditional banking. What stand out from it? Although it seems that time is behind, most appreciate the personalized attention in the branches. On the other hand, in Brazil, they are considered to be more reliable institutions.

For South America, one of the challenges for this year is to deepen the adoption and gain the true know-how. Argentina does not yet have an Open Banking regulation.

An interoperable model is better for all parties. Closed systems are not going to let us compete against cash. Ultimately, the best experience, the best product will win.