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Financial System: Challenges and Opportunities of Digital Transformation in Mexico

In: Data Analytics Applications in Emerging Markets

Author

Listed:
  • Vanessa Veintimilla Brando

    (Comision Nacional Bancaria y de Valores)

  • Daniel Miranda Lopez

    (Comision Nacional Bancaria y de Valores)

Abstract

This work aims to understand the implications that financial technology represents for the Mexican financial system. Considering that the adoption of new technologies in the financial system (Fintech) is increasing, a novel and complex context has arisen with diverse implications in various aspects such as education, infrastructure, and the regulatory and supervisory framework needed to ensure a healthy development of the financial system. Although it has been shown that digitization brings various benefits, such as sustainable development, improvement of financial and social conditions by its impact on financial inclusion, and providing alternative sources of finance to firms, it also bears significant challenges both for telecommunications infrastructure, as well as for the authorities in the search for a flexible regulation that provides protection to both the financial system and its users without stiffening financial innovation.

Suggested Citation

  • Vanessa Veintimilla Brando & Daniel Miranda Lopez, 2022. "Financial System: Challenges and Opportunities of Digital Transformation in Mexico," Springer Books, in: José Antonio Núñez Mora & M. Beatriz Mota Aragón (ed.), Data Analytics Applications in Emerging Markets, pages 23-48, Springer.
    • Handle: RePEc:spr:sprchp:978-981-19-4695-0_2
    DOI: 10.1007/978-981-19-4695-0_2
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    Keywords

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    JEL classification:

    • G23 - Financial Economics - - Financial Institutions and Services - - - Non-bank Financial Institutions; Financial Instruments; Institutional Investors
    • O32 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Management of Technological Innovation and R&D

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