Opportunities will abound this year, too, due to diminishing cash use and the enormous latent demand for fintech services.

Neobank funding bonanza shows promise still outweighs profitability—for now: Globally, challengers brought in large funding hauls that signaled investors’ continued confidence in the space. But their patience in the face of commoditization and unprofitability won’t be endless.

Monzo follows a slew of its global peers in winning a big funding round. Now these players must make smart spending decisions that demonstrate their maturity to investors.

The age distribution of the Brazilian neobank’s customers is a lot younger than incumbents’, with years of future earnings potential still ahead if they remain loyal.

The German neobank will pursue growth in established markets and make a push into Eastern Europe. This prioritization clarifies its strategy and is in line with other big challengers.

Nubank’s first H1 profit in Brazil vindicates its growth strategy: The neobanking giant reached first-half profitability at home—and its payment volume and loan book surged. Overseas expansion and a new paid account could continue this momentum.

By giving its users access to cross-border fund transfers for more than 100 countries, the Brazil-based neobanking juggernaut can promote its brand well beyond its existing markets.

The neobank’s massive capital raise could give it the resources to expand in Latin America and beyond—and its recent hires suggest it plans to do just that.

The Mexican corporate card provider will use the new funds to build out its business-facing offerings apart from the crowded consumer side of neobanking in Mexico and speed up its already strong transaction volume growth.

This report features our latest forecasts for proximity mobile payment users in Latin America, with breakouts for Argentina, Brazil and Mexico. It also examines emerging trends and key drivers fueling regional market movements.