Mexico Advances Sustainable Taxonomy

Mexico's Ministry of Finance and Public Credit (SHCP) reports progress in developing a sustainable taxonomy, aiming to promote a more sustainable economy. Citibanamex highlights growth in private consumption and fixed investment for the first quarter, but predicts a gradual economic slowdown. Uber's, authorized under the Fintech Law, expands its services beyond ride-hailing and into the financial sector.

This and more in this week’s roundup! 

Mexico Takes Major Steps to Implement a Sustainable Taxonomy

The Ministry of Finance and Public Credit (SHCP) reported that the development of Mexico’s sustainable taxonomy, announced earlier this year, is advancing. The ministry highlighted that experts from different fields participated in work groups to define the next steps for its implementation, which aims to make the Mexican economy more sustainable and environmentally friendly.

Private Consumption, Investment Grew in 1Q23

Private consumption and fixed investment in Mexico grew during January and February 2023, reports Citibanamex. However, the bank predicts a gradual slowdown in 2Q23.

Uber Enters the Financial Services Sector Following Authorization Under Fintech Law

Uber has obtained authorization under Mexico's Fintech Law to venture into the financial services sector. This milestone allows Uber to expand its offerings beyond ride-hailing, potentially providing users with convenient and innovative financial services integrated into the Uber experience.

The Great Opportunity of Fintech in Mexico

According to Forbes Mexico, there is a tremendous potential for fintech development in Mexico. As the country undergoes digital transformation, fintech companies have a significant opportunity to revolutionize the financial sector, expand financial inclusion and meet the evolving needs of consumers and businesses, explains the media outlet. 

US Bankruptcies Ripple Through Latam Startups  

Cristian Huerta, CEO and Founder, Morgana, explains how the bankruptcy wave in the US is impacting Latin American startups. The domino effect is creating challenges for fundraising and market access, emphasizing the interconnectedness of global financial markets and the need for resilience in the startup ecosystem.

12 Retail Banking Trends Financial Institutions Should Leverage

Cesar Cotait, CEO Latin America, Exadel, outlines 12 key retail banking trends that financial institutions should leverage. From digital transformation and personalized customer experiences to open banking and AI-powered services, embracing these trends can drive innovation, enhance competitiveness and meet evolving consumer expectations, he explains.