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Home > Business/Finance > Financial Services > Banking
Latin America: Innovative Financial Services Growing in Greener Pastures
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| Published Date:
September 2007
Published By:
TowerGroup
Page Count:
12
Order Code:
R301-1322
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Does the financial services industry in Latin America matter to global investors? Volatility has been an issue in this region where most countries have endured financial cycles of boom and bust. Recent strength in the price of commodities in international markets has encouraged economic stability in certain countries, particularly Brazil, Chile, and Mexico. A long period of stability across Latin America has dampened major concerns about political and financial risks and instilled cautious confidence. Unique challenges, manageable size, and financial ingenuity have provided fertile ground in the past three years for creative securities, payments, and banking approaches that employ new technologies to drive business growth.
This TowerGroup Research Note explores ways for financial services institutions (FSIs) to find new avenues for growth in Latin America and put behind decades of unpredictable swings and economic stagnation. Spurred by innovative approaches that tap the latent capacity of underserved market segments, undertaking to grow financial services in the most progressive countries now seems to be "mission possible." Lasting growth requires the modernization and integration of local FSIs with global markets. As new technologies emerge, vendors will also benefit from this cycle of expansion. Although IT investments by FSIs in Latin America pale in comparison with IT investments in mainstream markets, the pace of growth and synergistic opportunities for innovation are fairly significant.
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