Thiago Dias, Vice President of Fintech & Enablers for Latin America at Mastercard, announced the 5 Fintech trends for 2022 in financial services in Latin America including Blockchain and cryptocurrencies.
In the statement signed by Thiago, reference is made to the evolution of financial systems driven by the Coronavirus pandemic that served as a driver for innovation in the fintech field. He points out that a study by Americas Market Intelligence and Mastercard has revealed that the digitalization of financial services has been the path that has been adopted in Latin America.
The more frequent interconnection of data at a global level allows all sectors to continue innovating, therefore, in 2022, banks are expected to continue creating more reliable, faster and transparent digital tools.
Among the trends of this 2022 is the modality “Buy now and pay later”, It is a modality that, according to the study, has helped the financial inclusion of thousands of people in Latin America.
In the note, the vice president recognizes that the future of finance is blockchain and cryptocurrencies, since the versatility and transparency of operations are of vital importance for financial transactions. “Blockchain and cryptocurrencies have the power to revolutionize the financial industry” highlighted Thiago.
Mastercard has allowed payment with the use of cryptocurrencies, such is the case of Gemini, and so on other occasions Mastercard cards have been issued for the processing of payments backed by cryptocurrencies.
Within the trends, 5G cannot be left aside, and the obvious thing about the speed of this promising technology lies in data processing, more speed, more transparency translates into more transactions. In short, the traditional financial consortiums converge in the transactional use of their services and now of the platforms of the new banks, which are not only limited to the use of a bank account and a card, but are also expanding the portfolio of financial services.
In Latin American countries, the use of new technologies continues to be a condition of Fintech, constant innovation has allowed them to continue growing, and the adoption of blockchain and cryptocurrencies is more than usual. Current trends force financial services to remain at the forefront in order to be part of this 4.0 revolution.