Finance & Economics

Best of the week: most expensive fintechs in Mexico, how to deal with debt collectors, Amazon’s multi-million GDPR fine


We’ve gathered some of the best and most interesting articles over the last week.

Top 10 most expensive fintech startups in Mexico

Mexico has one of the fastest-growing fintech sectors in Latin America. A large part of its population is unbanked but using the Internet actively. That creates unique opportunities for fintech development. Just three years ago, it lagged behind Brazil with 334 fintech startups vs 377. Today, the country already boasts 441 startups promoting financial technologies, with 93 fintech companies currently in the process of obtaining a Financial Technology Institution (“FTI”) license. Mexico has substituted Brazil as the leading fintech hub in the region.

Deutsche Bank sells its Italian advisory unit

Zurich Italy has announced the acquisition of the network of Financial Advisors of the Deutsche Bank Group in Italy.

What is a collection agency?

The word “collector” has become infamous in the financial industry. There are too many dirty collection tactics used to bring back the debt costs. Some of them are even recognised as illegal. Nevertheless, collection agencies still function around the globe as an indispensable part of the consumer credit landscape.

UK allows its residents store COVID vaccination certificates on digital wallets

UK residents can now store their coronavirus vaccination certificates on Apple Wallet or Google Pay. This will make it easy for Android and iOS device owners to show their digital proof vaccination against the virus.

How to deal with debt collectors in 5 steps

If you have past-due debts, you may be legally contacted by a representative of a collection agency or an independent debt collector. Most people get scared or annoyed by the often-aggressive methods used to recover the amount they owe.

Here is an actionable plan on dealing with debt collectors without panicking.

Amazon hit with multi-million GDPR fine

Amazon has been hit with a fine from the EU and will need to pay €746 million for processing personal data that’s in violation of the GDP).

Top 10 digital banks in Norway

Norway has a huge online banking penetration. In 2019, 95% of all surveyed individuals used the internet for online banking, whereas those who had used the internet within the last three months stood at 97%. Therefore, only banks strongly focused on digitalisation can strive in the country.

Singapore FinTech Festival 2021

The Monetary Authority of Singapore (MAS) today announced that the Singapore FinTech Festival (SFF) will take place from 8 to 12 November, as a hybrid digital and physical event. A company limited by guarantee (CLG) will also be incorporated to spearhead future growth of the SFF and lead a series of new initiatives to provide year-round engagement with the global FinTech community.

Finland’s economic forecast 2021: what’s coming next?

Finland is one of the richest nations in Europe. Having one of the highest standards of living in the world, the country has a unique and strongly integrated welfare system in order to protect the lower strata of the society. Moreover, Finland is a resource-rich country with an abundance of reserves in iron, chromium, copper, nickel, and gold. Apart from that, forests are also a vital natural resource for the country. That is why it is one of the world’s leading wood producers and provides raw materials at competitive prices for the crucial wood-processing industries.

Tesco Bank is set to shut down all current accounts

Tesco Bank has announced its plans to shut down all current accounts. This comes as a result of the inactivity of the accounts. Also, other customers have resulted in using the accounts to save funds.

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