Written in FINTECH he
It seems that this 2023 the National Banking and Securities Commission better known as CNBV begins its work with great surprises, since just starting this new year, the government agency has given the great news of giving two new authorizations to companies to be able to operate as Financial Technology Institutions (ITF) or fintech in Mexico in a legal way and in this way offer their financial services in a regulated.
What are the two new fintechs with authorization to operate in 2023?
This year the National Banking and Securities Commission began by giving the authorization to operate in Mexico two fintech more, we mean Monific and Mozper Mexicowhich will act as a Collective Financing Institution (IFC) and an Electronic Payment Funds Institution (IFPE) respectively.
It was last Monday when the authorization to Monific and Mozper Mexico for operate under the terms of the Fintech Law, so with the sum of these two institutions there are already 46 authorized companies in the country, of which 29 represent IFPE and 17 IFC.
The authorization document details that the minimum amount of capital stock that Mozper has is 500,000 Investment Units (UDIs) in national currency; for his part monific it operates with an initial social capital of 3 million 400 thousand pesos.
How long did it take to get authorization?
monific requested in writing authorization to operate as IFC since September 25, 2019, that is, a resolution time of 1,209 days, while Mozper Mexico requested to operate as IFPE since November 24, 2021, so it took 421 days to obtain the authorization.
In fact, since the approval of the fintech law In March 2018, the CNVB gives the authorization to 24 entities during 2021 and 22 approvals to financial technology institutions during 2022.
What do these institutions do?
After obtaining authorization to operate, monific becomes the first platform for real estate crowdfunding that is dedicated to the tourism sector in our country, that is, its main investment product is the collective financing of tourist destinations in the main points of Mexico, such as Tulum, Bacalar, Playa del Carmen, Puerto Escondido, Mexico City, La Paz, San Miguel de Allende and Baja California Sur.
For his part, Mozper Mexico is a platform focused on family financial education that was launched in our country in August 2020, starting with a card and later launching its application.
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