LatamList – Ualá, the leading Argentine fintech, launched operations in Mexico as the company begins its expansion across Latin America. The fintech also has a strong local team which it will be looking to grow in the near future.
Uala is leading the way in financial inclusion in Latin America with its 100% digital savings account. The fintech experienced a 300% increase in transactions during the months of lockdown in Argentina.
“Three years ago we launched in Argentina, with the goal of making personal finances more innovative, more accessible, and more inclusive in Latin America. After 18 months of hard work, we are very happy to offer all Mexicans a modern, safe and truly free account to manage all their personal finances – with one card and one app. We are honored to play a part in the digital transformation of money, becoming an enabler for the digital economy in the región,” said Pierpaolo Barbieri, Founder and CEO of Ualá.
Only 47% of people in Mexico own a bank account and Ualá is committed to achieving greater financial inclusion in the country. The neobank is available to anyone over the age of 18, and can be managed via the online app. Customers will be able to easily transfer and receive money to their accounts, and also make cash withdrawals from ATMs across Mexico.
“We are confident in Ualá’s potential to revolutionize financial services in Mexico in the same way as it is doing in Argentina,” said Marcelo Claure, CEO of SoftBank.