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LATIN AMERICA ADVISOR

Financial AMERICA ADVISOR

A daily publication Of the dialogue

May 19, 2026

What’s the State of Competition Among Neobanks?

Prathankarnpap / Adobe Stock

Q

  • Neobanks, or digital-first financial technology companies that provide banking services, are growing and increasing their investments in operations in Latin America and the Caribbean. Among the recent developments, Nubank announced last month that it will invest $8.2 billion this year in its home market of Brazil; Argentina-based Ualá in March said it has raised $195 million to expand its operations, which include banking and insurance offerings; and Britain-based Revolut said May 5 that it is providing its Mexico unit with a capital injection of $64 million. What is the state of competition in the region among neobanks, including both local companies and global entrants? To what extent are neobanks’ investments in Latin America paying off? Are neobanks more aggressively targeting customers of traditional banks or people who currently lack any financial accounts?

A

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ABOUT THE financial services ADVISOR

Covering Latin America’s banking and insurance sectors, remittances trends and data, micro lending issues, new technologies in the industry, anti-money laundering regulations, and much more, the Inter-American Dialogue’s biweekly Financial Services Advisor, a sister publication of the Latin America Advisor, gives readers fresh insight and diverse viewpoints from financial sector leaders. To subscribe or for more information, contact Gene Kuleta, editor of the Advisor, at gkuleta@thedialogue.org.

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Gene Kuleta
Editor
P. 202.463.2920
E. gkuleta@thedialogue.org

Carl David
Goette-Luciak
Reporter

Nili Blanck
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board of advisors

Ernesto Armenteros
Vice Chairman
of the Board,
Banco de Ahorro y Credito Union

Jimena Blanco
Chief Analyst,
Verisk Maplecroft

Richard Child
CEO,
Mattrix Group

Michael Diaz
Partner,
Diaz, Reus & Targ, LLP

Ernesto Fernández Holmann
Chairman of the Board,
Ayucus

Desiree Green
Vice President,
Int’l Gov’t Affairs,
Prudential Financial

Earl Jarrett
Deputy Chairman & CEO
The Jamaica National Group

Barbara Kotschwar
Professor of Political Economy,
Georgetown University

Thomas Morante
Attorney,
Carlton Fields

Manuel Orozco
Senior Fellow,
Inter-American Dialogue

Adalberto Palma Gómez
Senior Partner,
Aperture SC

Rodolfo Pittaluga
Adjunct Professor,
Florida International University
College of Law

Roberto Teixeira da Costa
Founder & Board Member Emeritus, CEBRI

Mario Trujillo
CEO,
DolEx Dollar Express

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