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FINTECH GROWTH WILL CONTINUE TO ACCELERATE IN LATIN AMERICA
Given the increased adoption of smartphones and mobile technology in
this underbanked region, and the influx of international investment over
the past 12 months, Latin America will remain a fertile FinTech market.
Donna Parisi, Global Head of Financial Services and FinTech at Shearman
& Sterling, recently noted in Corporate Counsel that, "digital startups are
disrupting the financial services market in the region, which has historically
been dominated by large banking monopolies with high barriers to entry.
Startups like Nubank, a Brazil-based company, have come in to offer
individuals easier access to bank accounts and credit cards."
OPEN BANKING TO GAIN MOMENTUM IN THE U.S.
The U.K. has led the world in open banking and regulators around
the globe are looking at its Open Banking Framework as they seek
to adopt standards for accessing bank data. Open banking business
models continue to gain traction worldwide and could lead to huge
opportunities for small business growth in the U.S.
DATA CONTINUES TO DRIVE MARKET EFFICIENCY, RISKS
"Data powers trading strategies. Data powers customer-facing 'robo-
advice' and chatbots… Yet it is also a high-value asset that can be used,
bought and sold." As data becomes a valuable commodity, there's
inherent value in how it's protected and tremendous enterprise risk in
how it could be compromised, cautioned Nathan Greene, partner in
Shearman & Sterling's Investment Funds practice, in The Investment
Lawyer.
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