UK Department for International Trade Schedules Fintech Mission to Latin America

Latin America

The UK Department for International Trade (DIT) will venture across the Atlantic to visit with and perhaps form partnerships with Latin American Fintech firms. Along for the ride are six UK based Fintech firms which have been selected to participate in Finnosummit taking place in Mexico City from 9-13 September.

DIT states that the Fintech envoy will gain a better understanding of the Mexican Fintech ecosystem as well as being able to interact with Fintech entrepreneurs and advocates from across the region.

Liz Truss, Secretary of State for International Trade, issued a statement on the Latam Fintech mission:

“The companies chosen for this year’s mission to Mexico showcase the best in class of our world-leading Fintech industry, which continues to attract the highest levels of capital in Europe.

Whether it’s our comprehensive State of the Nation report, partnerships with Fintech Alliance, or the launch of our new Pilot Bridge Programs, DIT continues to be a firm ally to the UK’s FinTech industry and I am delighted we are supporting this mission to Finnosummit.”

Joanna Crellin, Her Majesty’s Trade Commissioner (HMTC) for Latin America, added that the UK’s Fintech sector continues to thrive:

“We are delighted to be supporting these FinTech firms as they offer their innovative solutions to one of the fastest growing ecosystems in Latin America and the Caribbean. Mexico has taken significant steps in providing an open and collaborative market for FinTech to flourish in supporting underserved businesses and helping to meet the needs of the financially excluded.”

The UK Government states that is supporting the Fintech industry in Mexico with initiatives such as the Prosperity Fund Mexico program. This program is expected to reach £60 million over 8 years. £11 million of the fund has been allocated for Fintech specifically.

The List of the Latam Fintech Mission Participants are as follows:

Boseman specialises in money management technology through custom FinTech products in the investment and credit sectors, moving away from the use of robo-advisors.

ComplyAdvantage helps firms make intelligent choices when complying with regulations relating to sanctions, money laundering (AML) and terrorist financing (CFT). Using Artificial Intelligence and machine learning to produce higher quality AML risk data on individuals, organizations and associated entities. ComplyAdvantage works globally with some 200 firms in the financial markets and other regulated high-risk sectors.

Duesday seeks to make recurring payments easier through their mobile app. The streamlined platform allows users to view, pay and organise their bills in one place, rather than struggle with many different direct debit payments. Users can even change their date of payment and split bills with others, as well as unlock rewards for paying bills earlier.

Tokenise provides regulatory hosting services to the financial services sector, working with companies in the UK, Europe and Asia. Their services allow for fast and cost-effective listing of debt securities, open and closed-ended funds, securitisation cell companies, specialist investment vehicles, cryptocurrencies and other exchange-traded instruments for capital raising and investor diversification.

Paymentology works alongside banks and program managers to provide a seamless processing experience. Identifying gaps in the financial market, the company aims to help their clients in the areas of security, flexibility and reconciliation through digital processing platforms.

Rhisco Solutions Limited works internationally with banks and insurers in Latin America to provide risk management and capital services solutions through bespoke technology platforms. Examples include their TEGRA data management, ALLGOOD compliance, IBM Algo Credit Management solutions and more.

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