Ualá Has New Director General in Mexico

Argentinian fintech Ualá introduced Luis Madrazo Lajous as its new Director General for its office in Mexico, while continuing to grow and strengthen operations in the country, said the company through a press release.

“The digital financial services industry is increasingly growing and at the same time, generating constant changes in the sector. I am very happy to join Ualá, to continue promoting financial inclusion in Mexico. In this sense, we seek to strengthen our value proposition in the market and build an ecosystem that allows people to have access to more and better financial products,” said Madrazo.

Madrazo joins a team of over 1,350 collaborators at the regional level, where Mexico plays an increasingly important role, said the company. The new director general has extensive experience working both in the public and private sectors. He has a Bachelor’s in Economics from ITAM and a Ph.D. in Economics from Yale University.

Prior to joining Ualá, Madrazo served as Corporate Director of Financial Planning at Scotiabank México. In the public sector, he has held various leadership positions in the Ministry of Finance and Public Credit (SHCP), where he designed and led the fiscal consolidation process between 2015 and 2018.

The arrival of Madrazo to Ualá “is a reflection of the company’s commitment to technology in the Mexican market,” where it recently launched Ualá Bis, its new vertical for the collection department, in addition to the purchase agreement commitment of ABC Capital that is still subject to regulatory approval, the company added.

Financial Education in Mexico

In Mexico, only 25 percent of the adult population has some type of formal financial education, according to INEGI’s National Financial Inclusion Survey (ENIF). Earlier this month, Ualá launched Aula Ualá, a new free-to-use platform for financial education focused on the Mexican population, as reported by MBN.

“Ualá has been committed to education since its creation, with [Aula Ualá] we seek to generate a virtuous circle that improves people's lives by offering information that serves as a basis for making better financial decisions. We are convinced that Aula Ualá will be a great contribution to our goal of improving the financial inclusion of Mexicans,” said Claudia Trujillo, Brand Manager México, Ualá.