Menu Search Facebook Twitter
Search Close
  • Capital Coahuila
  • Capital Hidalgo
  • Capital Jalisco
  • Capital Morelos
  • Capital Oaxaca
  • Capital Puebla
  • Capital Quintana Roo
  • Capital Querétaro
  • Capital Veracruz
  • Capital México
  • Capital Michoacán
  • Capital Mujer
  • Reporte Índigo
  • Estadio Deportes
  • The News
  • Efekto
  • Diario DF
  • Capital Edo. de Méx.
  • Green TV
  • Revista Cambio
Radio Capital
Pirata FM
Capital Máxima
Capital FM
Facebook Twitter
X Welcome! Subscribe to our newsletter and receive news, data, statistical and exclusive promotions for subscribers

EPN Announces FinTech Initiative

Accompanied by Meade Kuribreña and Carstens, the president inaugurated the Third International Forum of Social Inclusion at the National Palace

President Enrique Peña Nieto (center) and Queen Máxima of the Netherlands attend the Third International Forum of Social Inclusion in Mexico City, photo: Cuartoscuro
By César Aguilar Whatsapp Twitter Facebook Share
3 months ago

President Enrique Peña Nieto announced that he will send the Financial Technology Act (Fintech) initiative to Congress before the end of September, which will seek to offer improved customer protection and financial inclusion, prevent money laundering and promote competitiveness in business countrywide.

Accompanied by Treasury and Public Finance Secretary José Antonio Meade Kuribreña and the head of Mexico’s Central Bank (Banxico), Agustín Carstens, the president inaugurated the Third International Forum of Social Inclusion at the National Palace.

One of the forum’s objectives is to discuss how to take advantage of the growth of the financial technologies sector (Fintech) to promote its use and engagement among the population. However, as a relatively new financial sector, it lacks proper regulation, the government believes.

“This initiative will be sent by September 20. It will help regulate this new platform and establish ways for financial mediation, which favor financial inclusion,” the president said.

The Fintech initiative draft covers subjects like forms of payment, investment management, capitalization, deposit and loans.

It also proposes new business schemes, applications, processes or products related to financial markets and institutions.

Peña Nieto said that for financial inclusion to be a reality we must take advantage of the technological advancements, as well as the greater internet connectivity that we have in the country due to the Telecommunications Reform.

“That is the challenge we are working on, but we are certainly better today than we were three years ago when we started this discussion,” said Peña Nieto.

Queen Máxima of the Netherlands and adviser to the Secretary-General of the United Nations on Financial Inclusion for Development acknowledged Mexico’s progress but warned that there are tasks that have yet to materialize.

“The creation of a strong network of correspondents will be essential to reach rural areas, where poverty is greater and bank branches are non-existent,” she said.

Comments Whatsapp Twitter Facebook Share
More From The News
Latest News

Democrat Jones wins stunning red-state A ...

5 days ago

Asian stocks mixed ahead of Fed rate ann ...

5 days ago

NFL Network suspends analysts over sexua ...

5 days ago

Minnesota announces restrictions on usin ...

5 days ago
Most Popular

Energy Secretariat Grants Permissions to ...

By The Associated Press

French PM says Disputed Labour Bill Open ...

By The Associated Press

White House Steps Up Aid for Financially ...

By The Associated Press

WALMEX Sales Grow 15.6 Percent in Februa ...

By Omar Sánchez

Many Experts Skeptical Trump’s Trade Thr ...

By The Associated Press