Mexico is staking its claim to be Latin America's fintech hub through the establishment of a trade organisation with some 70 founding members.
Led by former Citi and UBS banker Jorge A Ortiz, FinTech Mexico has gathered together a combination of local fintech startups and major international outfits such as MasterCard, Swift and Microsoft.
The organisation has set up five committees to tackle education research, technology, regulation and networking as it seeks to develop a fintech ecosystem and establish Mexico as a hub for the fast-growing industry.
Says Ortiz: "The purpose is to offer its members and the general public an environment of open and transparent collaboration which will boost innovation of FinTechs in Mexico, by using the collective knowledge and best practices of the industry, thus improving the financial services for everyone."