Mexican banks and financial institutions are increasingly recognizing the value of collaborating with startups within the fintech sector.
ALLVP Research analyzed the activity of Mexican banks and financial institutions within the fintech sector and identified a total of 31 collaborations segmented across seven types, strategic alliances being the most common kind of cooperation between banks and fintech startups.
ALLVP Research identified BBVA Bancomer as the most active bank in the fintech ecosystem. BBVA not only has a Corporate VC arm to invest in fintech startups, but it also built an innovation center and sponsors its Open Talent startup contest.
Other active players in the ecosystem include Mastercard, which hosts an accelerator program for fintech startups, and Gentera, which invested in Mexican fintech startup, Mimoni.