Alchemy advances their end-to-end lending platform into Latin America to provide small businesses with a premier solution
Latin America Fintech Landscape
Over the COVID-19 pandemic the fintech landscape changed dramatically as the majority of the population began transitioning from traditional in-store purchases to e-commerce and online payments.
Another contributor to the shift in e-commerce in Latin America is the high rate of mobile phone usage in the continent. In 2019, there were 343 million mobile internet users in Latin America with the number expected to increase to 424 million by 2025.
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Fintech Revolution in Latin America
In the past, Latin America has been an extremely hard environment for FinTech’s to thrive in due to the regulations and traditional banks controlling the market. For example, in Brazil the top five banks control 80% of the market making it difficult for new entrants to break through successfully.
Recently, countries such as Mexico and Brazil have implemented fintech-friendly regulations to welcome Fintech companies into the banking scene. These new laws have made Latin America a breeding ground for venture capitalists and investors.
A niche on the rise
Buy Now Pay Later has become increasingly popular around the globe since COVID-19 impacted many people financially. This was no different in Latin America. Many people shifted to e-commerce payment methods allowing them to pay for their product or service over time.
Alchemy has worked with various clients throughout Latin America to build our end-to-end white-labeled BNPL solution. Our Point-of-Sale system instantly empowers our client’s network to take in applications, pre-screen the customer with automated underwriting rules, and has the necessary documents for consumers to sign to start the services.
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Alchemy in Latin America
Over the past couple of years, Alchemy has geared up our entrance into the Latin America Fintech market by powering banks, financial institutions, and small businesses to help them quickly launch credit products.
We have developed a true end-to-end lending experience for our clients. From the website or mobile app all the way to loan management and payment processing.
At Alchemy we stay connected with all our clients. We have team members around Latin America in countries such as Brazil, Argentina, El Salvador, and Mexico to support you throughout your journey in developing a premier lending platform.
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[To share your insights with us, please write to sghosh@martechseries.com]
