Porfirio Sánchez Galindo Eyes Foreign Investment In Mexican Fintech
Mexican economist Porfirio Sánchez Galindo said foreign investment is pouring into Mexico as international investors are eager to get involved in the robust Fintech-based development that is proliferating here in many sectors.
He cites the example of Santander InnoVentures. This investment fund based in London has backed three Mexican start-ups, two of which are Fintech operations. That includes ePesos, a firm that enables the receiving and reimbursing of money via a virtual wallet.
— Porfirio Sanchez Galindo (@PSanchezGalindo) April 17, 2020
Fintech stands for financial technology. It describes the handling of financial matters in the digital realm. That can include everything from cryptocurrency and crowdfunding to owning an online bank account or trading financial instruments online.
The doorway for Fintech development was opened wide after the Mexican government passed landmark reforms and legislation known as the Fintech Law. Enacted in March of 2018, Fintech has come to full fruition in 2020 as the new legal framework kicks in.
Porfirio Sánchez Galindo is considered by industry observers to be a leading authority on Fintech matters. His work with the Mexican Treasury Department as chief of staff brought Fintech application to government tax collection protocols while paving the way for private enterprise to leverage more Fintech applications in their business models.
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