FinTech Ecosystem in Mexico. Opportunities and Risks for Startups

• Main Authors: JOSE RICARDO LIZAMA DE MARCHENA, 李瑞奇
• Other Authors: Tang, Yingchan Edwin
• Format: Others
• Language: en_US
• Published: 2019
• Online Access: http://ndltd.ncl.edu.tw/handle/n6h6x7

碩士 === 國立交通大學 === 企業管理碩士學程 === 107 === FinTech Technology is recently booming in Mexico, with many opportunities for FinTech startups to develop successful business models, but with many challenges to overcome. FinTech Startups who want to succeed need to understand how the FinTech has been evolving around the world and the FinTech ecosystem of the market they are trying to enter. The objective of this paper is to highlight all the general facts FinTech startups companies who want to enter in the Mexican market should know when developing financial services products enhanced by technology and give them important insights of the FinTech ecosystem in Mexico. The paper is divided into four chapters, the first chapter is dedicated to understanding why FinTech is growing especially in developing countries, the most common FinTech products startups are working on, and general opportunities and challenges FinTech companies are facing around the world. The second chapter contains insights of the Mexican market including an overview of the financial services accessibility, the potential Small and Medium Enterprises represent as a target market for FinTech products, how Mexico FinTech development compare with the rest of Latin America, and the FinTech products that have proved to be successful in Mexico. In chapter 3 is explained how the government is trying to increase the financial inclusion and the role of FinTech in the government agenda. Mexico is going ahead in Latin America in terms of regulations, this chapter covers the details of the FinTech law in Mexico, including, activities FinTech companies are allowed to conduct, regulatory Sandbox for innovation testing, intellectual property framework, requirements that startups need to comply in order to operate and to get a license, and specific regulations related to Electronic Money Transfer, Online Lending, Crowdfunding, Blockchain and Cryptocurrencies. Finally, in Chapter four is presented the funding needs of FinTech startups in Mexico, how they usually get funds, and the main investors and accelerators in Mexico that are interested in FinTech startups.