Written in FINTECH he
Talk about fintech in Mexico This is not an issue that should be taken lightly, as we must remember that our country is a pioneer in the regulation of this type of fintech institutions. However, you should know that the financial authorities only recognize two fintech types despite the many that exist in the country.
For this reason, every time you read that the National Banking and Securities Commission (CNBV) gave a new authorization to this type of companies it is important that you know which sector of the fintech corresponds.
In this case we are talking about the Financing Institutions Collective (IFC) and the Institutions of Electronic Payment Funds (IFPE)so today in Heraldo Binario, we will let you know what are the characteristics of each of these Fintech, keep reading.
What are the types of Fintech recognized by the CNBV?
In accordance with the legislation in force in our country, the so-called Law to regulate Financial Technology Institutions or better known as fintech lawto organize and operate as fintech is required to obtain a authorization which will be awarded by CNBVprior agreement of the Inter-institutional Committee (Ministry of Finance, Banxico, CNBV, and Condusef).
It is so the fintech law recognizes first of all IFCwhich are Collective Financing Institutionsbetter known as crowdfunding and their main purpose is to put two people or interested parties in contact through a platform, one that requests funds and the other that wants to lend money or invest in specific projects.
To organize and operate as an ITF, it is necessary to obtain an authorization that will be granted by the CNBV, with the prior agreement of the Inter-institutional Committee, in terms of Chapter I of Title III of this Fintech Law…
The second type of fintech with official recognition of the CNBVis the one of the Electronic Payment Fund Institutions or IFPE better known as wallets or electronic purses can open accounts to make transfers or payments. You can also have the money that the user gives them, either in cash, through ATMs, or by requesting a refund.
Follow Heraldo Binario on Google News, give him CLICK HERE.