When I was first asked this question the only thing that resonated in my mind was: ambition. Ambition to quickly transform the financial services landscape by creating a sustainable business for the upcoming years.
It has been noted that between 20% to 30% of business currently held by traditional financial institutions is at risk because of FinTech companies. In certain regions, such as in Latin America, traditional financial institutions may even never reach some market segments due to FinTechs.
And these facts represent a great opportunity for ambitious entrepreneurs that are driving innovation and expecting to speed up an unprecedented change in the way people exchange their assets and interact with current financial institutions.
Moreover, Latin America has a unique opportunity to leapfrog FinTech development and increase its competitiveness in the sector, therefore creating more and better jobs, and facilitating economic development.
So, besides ambition, we look for entrepreneurs with solid intentions to improve financial services in Latin American through innovation, technology and worldwide collaboration. And that is what we aim for at Startupbootcamp FinTech, with the support of our corporate partners.
At Startupbootcamp FinTech Mexico City, we invite startups that understand those opportunities and whose ambitions go far beyond achieving the right product/market fit, founder/startup fit, and startup/scale-up fit, to join our program.
We need that spirit!
From lending to crowdfunding, from blockchain to serving the underbanked, the financial technology industry is very broad and consists of a wide range of segments and pieces within its value chains that are being -and will be- disrupted, either by regional solutions for the Latin American population and companies, and through business models that can be scaled globally from day one.
And this is what we have already found in the past weeks during our FastTrack Tour.
After visiting Bogota, Guadalajara, Mexico City, São Paulo, Rio de Janeiro and Miami our team has met with dozens of entrepreneurs who want to change the story for many consumers and SMEs in unequal societies, by giving them the opportunity to better meet their financial needs through technology.
Our FastTrack Tour keeps going, and our search for top-notch FinTech startups too. We still have more cities to come: Santiago, Buenos Aires, Montevideo, Madrid, Quito, Lima, Medellin, Mexico City, Monterrey and we want to meet with you in the following weeks.
A non-exhaustive list of relevant FinTech segments follows:
Next generation technologies and platforms for mobile payments, wallets, gateways, aggregators, mPOS, and international money transfer.
Solutions and technology-based financial services that target both the unbanked and underbanked populations.
P2P and marketplace lending
Platforms for lending and alternative financing, including alternative scoring, factoring, supply chain finance, and peer to peer financing.
Personal Financial Management
Platforms for personal debt management, savings, expense management, among others.
Enterprise Financial Management
Innovations for digital accounting, enterprise financial management, collections, tax payments, among others.
Blockchain and Cryptocurrencies
Platforms of distributed ledgers for applications such as smart contracts, trading, FX, international money transfer, peer to peer money transfer, among others.
Wealth Management & Robo-Advisors
Online or automated platforms for advisory and financial investment in mutual funds and stock markets.
Insurance & InsurTech
Innovations for the insurance sector driven by technologies such as artificial intelligence, machine learning, IoT, big data and analytics.
Ciber-security, Identity & Authentication
Technologies that improve current processes and services of traditional financial institutions for security, digital authentication, KYC, fraud prevention, biometric identification, among others.
Do you have what it takes? You can find our website for applications to be part of our first cohort here. This is your opportunity to join the largest FinTech accelerator in the world, build close relationships within the financial industry, and the most important thing, be part of Latin American disruption.