Emerging Markets Today

Encore: Mapping Brazil's Fintech Sector

Listen on

Episode notes

This episode is an encore!

The year was 2021, in the middle of the Covid pandemic and I interviewed Carlos Kazuo Missao, and he was the director of the GFT Group in Brazil. This episode captured all the changes the fintech sector was going through (and still is).

Here's a sneak peek of what we discussed:

The Brazilian Fintech Landscape: Brazil is a hotbed for entrepreneurs and interconnected individuals, making it an exciting environment for fintech. The pandemic has even accelerated digital transformation in the financial market, leading to the success of challenger banks and digital wallets.

The Power of PIX: We discussed the new instant payment solution, PIX, launched by the Brazilian central bank. It's revolutionizing payments in Brazil, with over 2 billion reais transferred in the first month alone!

The Rise of Digital Wallets: Digital wallets have thrived in Brazil as a cheaper way to handle digital money. They've become marketplaces where users can transact money between companies and access consumer financial services.

Banking the Unbanked: We touched on the issue of unbanked individuals in Brazil, and how digital wallets and light apps with financial services are reaching this population. The pandemic has even led to a surge in the number of people becoming banked overnight.

Open Banking Revolution: Carlos shared his insights on the importance of open banking regulation in Brazil, aiming to democratize access to financial services and create a more competitive environment.

Carlos believes that this is just the beginning for the fintech sector in Brazil. With the country's entrepreneurial spirit, the availability of technology, and supportive regulations, the future looks promising.

Let’s keep Emerging Markets Today ad-free: Help us by donating any amount via Ko-fi⁠ ⁠https://ko-fi.com/apicasso⁠⁠.

Check out ⁠emergingmarkets.today⁠