There's a financial revolution underway in Brazil. Rapid
growth in the financial technology (fintech) sector means that
Brazil now has the world's highest number of fintech companies
outside the U.S.
But the pace of expansion is creating risks as well as
opportunity, and many start-ups are seeking outside professional
expertise to help them navigate the complexities of the regulatory
environment.
Fintech – a new technology and
innovation that aims to compete with traditional methods in the
delivery of financial services – is being encouraged by
Brazil's Central Bank, which wants to reduce fees of financial
services and expand access to accounts and credit to reach a larger
part of the Brazilian population. A large proportion of the
country's inhabitants – 35% of Brazilian adults - has
never had a bank account, particularly if they are poor. Yet Brazil
has the highest number of smartphones in the world, so there is
huge potential for new ways of delivering
