The fintech ecosystem in Latin America (LatAm) has seen tremendous expansion and established itself as a vital actor in addressing the region’s consumer financial demands and needs. Growing demand for online banking solutions, favorable demographics, and a sizable underserved population are driving the expansion of fintech activities.
Over the last few years, Southeast Asia has been one of the frontrunners in fintech adoption globally. The combination of a sizable, young, tech-savvy population that actively uses e-commerce and digital payments, extensive mobile internet coverage, and government support have made it one of the fastest-growing fintech markets globally.
The use of digital technology and the Covid-19 pandemic have significantly transformed the lending industry in recent years. We see more financial institutions shift towards digital transformation and adopt advanced and innovative technologies like artificial intelligence (AI) and machine learning. The quest for better customer experience, quicker service, and improved profitability has led to the emergence of digital lending.
On September 30, 2022, the US Department of the Treasury’s Office of Foreign Assets Control (OFAC) published an enforcement release on the USD 116,048 settlement with Tango Card, Inc. (Tango Card).
On December 22, 2020 the Securities and Exchange Commission (“SEC”) adopted amendments under the Investment Advisers Act to modernize rules that govern investment adviser advertisements and payments to solicitors (“New Rule”). The aim of the amendments is to create a single modernized rule that regulates investment advisers’ marketing communications in today’s ever-evolving advertisement practices, technology and expectations.
