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Weekly Roundups

Mexico Has Opportunities for Female Traders: The Week in Finance

By Emilio Aristegui | Thu, 09/15/2022 - 10:00

A study by OctaFX found Mexico offers a proper environment for women to develop as traders. Meanwhile, startup Ualá expanded its service offering to include remittances. 

Ready? This is the week in Finance!

Mexico Offers Adequate Environment for Mexican Women to Become Traders: OctaFX

The "New Investment Behaviors: Mexican Women Traders" study by trading app OctaFX found that the country has the optimal conditions to create an adequate environment for women to become traders. Their self-learning capabilities and growing interest in trading will further expand the number of female traders in Mexico.

Ualá Targets Remittances Business

Users of the Ualá ABC mobile app will now be able to receive digital remittance payments without paying commissions. “In [Mexico], remittances sustain the economy of thousands of families and, through accessible and reliable financial products, it is possible to generate a significant social impact. With the launch of remittances, Ualá and ABC Capital endorse their commitment to help achieve a more competitive, transparent and inclusive Mexican financial system,” said Ualá through a statement.

Global Challenges Pile for SMEs 

Numerous risks have affected SMEs, with the effects of the pandemic, the war between Russia and Ukraine, inflation and the strengthening of the dollar generating uncertainty for millions of companies. 

“Small and medium-sized companies maintain the ability to move a local economies because they act as suppliers, customers and business partners for large companies; therefore, their effectiveness and positioning are key, although in this scenario, stabilization and staying afloat are quite a bit of a challenge, mainly due to the magnitude of conducting a business while coping with little financing,” wrote Sebastian Kreis, Co-Founder and CEO, Xepelin. 

Toyota Celebrates 20th Anniversary at the BMV

Toyota participated in a ringing bell ceremony at the Mexican Stock Exchange (BMV) to celebrate 20 years in Mexico. "In these 16 years, we have diversified our sources of funding, with which we have been able to support the financing of inventories and capital loans of our network of distributors made up of 98 points of sale. Today we can say that thanks to these efforts, one out of every two Toyotas sold in Mexico has been financed by Toyota Financial Services Mexico," said Kuntzy.

The Importance of Trust in Credit

Lack of access to financial products affects millions of people and businesses in Mexico. In a country where nearly 60 million people are excluded from financial services, it is vital to discuss the benefits companies get by accessing credit. Availability of information and institutional and legal certainties to recover loans are some key factors to increase financial access. However, “The factor that I consider most important to enable access to credit is that of trust, in the broadest sense of the concept,” explains Marlene Garayzar, Co-Founder, Storicard. 

The data used in this article was sourced from:  
MBN
Emilio Aristegui Emilio Aristegui Junior Journalist and Industry Analyst