Fintech and insurtech innovation in Brazil set to take off on regulatory tailwinds – TechCrunch - Digitren Indonesia
Beranda » Travel News » Fintech and insurtech innovation in Brazil set to take off on regulatory tailwinds – TechCrunch


Beginners and VCs see opportunities in open banking, finance and insurance.

Brazil Instant Payment System Pix has generated over 8 billion transactions in the past year. 2021 is over Statistics From the Central Bank of the country. This is a stunning image for a gift launched in November 2020 and Pix is ​​going to show how vast it is in the country.

Joach Pedro Thompson, the founder of fintech Z1, told Tech Crunch that he could describe the Pix as a “government-made version of Venmo.” However, the image does not fully capture the fact that Pix attracts a lot of people other than paying their peers for coffee. Otherwise it would not have been used Six out of 10 Brazilians.

In a country where many people still do not have banking services and line up to pay bills, it is not easy to be able to pay instant attention to anyone. In addition, Pix now supports additional services such as your authorization Withdraw money from businesses.

Interestingly, Pix is ​​an institutional initiative that is part of a broader public effort to change Brazil’s financial landscape. “The central bank has been doing an excellent job and Pix is ​​one of the most important structural changes,” said Brazilian VC. Bruno Yoshimura When we wrote a Latin American Fintech boom, he told Tech Crunch.

I lived in Brazil, so this naturally motivated me. At the time, employers were constantly complaining about bureaucracy, and their high-hopes institutions were only left out of the way. But now the VCs and founders are truly thanking the Central Bank for its initiative and opportunities.

Citing other Central Bank projects, Yoshimura said, “Both Open Bank and Pix are paving the way for new challenges, and we look forward to seeing more innovations around them.

It’s not just Pix, and it’s not just Central Bank BC # Agenda Or. Brazil Private Insurance Supervisor (Susiep) is working. Open insurance plans, Which means that insurance may be the next sector to benefit from regulatory tail wind.

To understand what is being done on regulations in Brazil and how it will affect this startup, I spoke to Latin American Fintech Tech ecologists.

Through VC, I met Amy Chatem, A partner in Costanoa Ventures, whose latest investments are based on Rio de Janeiro Plug; And Alma Mundy VenturesJavier Santiso More ideas about insurance. In the beginning, I talked to the CEOs Rodrigo Tejeiro from Payment And Pedro Sonigo de Olivera from TruePay.

Opportunities abound.

“The open banking operations received by the Central Bank of Brazil are a tailspin for Fintech’s innovation,” Costanoa said. Amy Chatem He said. “When consumers regain control of their data, it creates a gap and creates more competition for new entrants into the banking ecosystem, providing consumers with better, cheaper, more equitable and secure financial products and services. [underserved] Or unused segments of society. ”

Payment He is one of the first starters to use the new rules to expand their B2C services. “Our mission at RecargaPay,” founder Tejero said, is to democratize mobile payments and financial services in Brazil, so Open Bank and Pix are the best recipes to speed up our mission.

Tejero especially appreciates Pix and his “amazing” direction. “Payments made in just one year have been a huge inconvenience for millions of Brazilians, making it easier, faster and cheaper. The Central Bank of Brazil should be recognized as the start of the year for Fintech, ”said Pix.

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