Finnosummit returns for fifth edition in Mexico City

Contxto – One of Mexico’s largest fintech events is back with the fifth edition of Finnosummit, lasting four days for the first time. From September 10 to 13, Mexico City will host some of the most influential regional players from the fintech and insurtech industries. 

As usual, fintech will be the event’s primary focus. Nevertheless, there will be programming pertaining to insurtech and “fintech for inclusion”, too. 

Andrés Fontao, co-founder and managing partner at Finnovista, recently shared some details and unique features about this year’s conference. 

Details

Over 3,000 attendees will attend the event consisting of keynotes, panels and workshops provided by prominent ecosystem players. Together, they will discuss new waves and trends as well as share regional case studies and innovative feats with participants. 

For instance, new market dynamics, such as how startups and traditional institutes such as banks now coexist with each other. Also, prepare yourself to hear future predictions and expectations about the financial and insurance industries five years from now.

Fontao says that while the focus is fintech, this year’s edition includes two new verticals for the sake of promoting financial inclusion.

“While digital financial services and the fintech ecosystem have gained strength in the industry and have proven to be one of the most attractive sectors for venture capital, there is still a great way to go in the insurance sector and financial inclusion,” said Fontao.

Push for financial inclusion

According to the recent Fintech Radar survey from Finnovista, 32 percent of Mexican adults don’t have any financial services. Another 24 percent only have one product of this kind. Around 35 percent of fintech startups surveyed also said that their main client is unbanked, under-banked consumers, or SMEs.

These statistics prove that the opportunity to include and democratize financial services is still extensive

When it comes to insurtech, the industry deserves innovation and agility more than ever before. Moreover, some trending new products include tailor-made proposals, product portfolio diversity, affordable options, as well as more efficient operations.

I’ll be participating as a moderator as one of the insurtech panels, which I am very excited for! I’ll be playing devil’s advocate with four founders of insurtech startups in Mexico. These panelists are Mike Schaefer from Mango Life, Javier Orozco from Crabi, Leonardo Cortina from miituo and Jesús Hernández from weecompany.

Fontao adds that he’s very enthusiastic about Mexico hosting Finnovista based on its thriving fintech market.

“Without a doubt, Mexico is one of the best countries in the region to celebrate Finnosummit so ambitiously like this year,” added Fontao. “The Mexican market has consolidated itself as an inscrutable leader for financial innovation in Latin America with an 18 percent net growth and a hundred new fintech startups.”

Historically, the most predominant fintech segments in the ecosystem have been payments and remittances, along with loans. Now we want to expose all kinds of collaborations and new segments that are gaining strength in the market.

Are you ready?

Finnosummit is definitely the go-to event for collaborating and exploring new opportunities in the financial industry.

Whether you’re a startup founder, financial institution executive, banker, investor or just passionate about the future of money, this event could be for you. Attendees can expect to assume risks together and share valuable information.

Not only does the event itself offer a comfortable networking space, but also provides the option to schedule meetings beforehand. Speakers including David Velez from Nubank, Gabriela Zapata from ONU and Nicolás Berman from Kaszek Ventures will participate as keynote speakers.

Another interesting aspect of this event includes Finnosummit Challenge. The contest seeks to find, promote and empower talented and skilled startup founders to transform insurtech, fintech and inclusion in Mexico.

BBVA Open Talent, one of the world’s largest fintech competitions, will also celebrate its 11th edition during the event. Radar Santander, a dynamic program for fintech startups, will also take place with over 100 founders participating. 

Currently, Finnosummit is powered by some of the most important actors in the industry. For example, Citibanamex, Banco Azteca, Accenture, BBVA, the British Embassy, Santander, Novopaument and Visa are all making this possible. Other important contributors include Axa, Cumplo, Emailage, Latinia and Mastercard.

Lastly, Insurtech day is powered by Asociacion Mexicana de Instituciones de Seguros (AMIS). Visit the official site in order to learn more about the calendar and speakers.

-VC