The report found that the traditional playbook of developing branches and building relationships may count "for little in a world where a mobile phone is the principal' real estate', and word-of-mouth – often via social media – becomes the most powerful form of validation."
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Mexican fintechs Klar and Konfio tap $100 million credit lines from U.S. firms to boost lending in the country.
Millions of people in Mexico do not have access to basic financial products, but fintechs have been working to radically change the scenario.
Investments into Latin American fintechs are expected to pick up in 2024 amid rate cuts in the United States.