Business

The growing pains of Brazil’s fintech market

The growing pains of Brazil's fintech market
Brazil’s is Latin America’s biggest fintech hub

The Brazilian Ministry of Finance has entered as an involved party in a lawsuit filed in 2016 by Bradesco, one of Brazil’s biggest banks, against the fintech Guiabolso – a financial planning app with more than 4.5 million users. The bank wants to block the app’s access to their customer’s financial data by claiming it represents a security risk. As the case record is sealed, neither Bradesco nor Guiabolso have made any public statement on the matter. However, the outcome of the court decision will be extremely important to the fintech sector, where data is one of...

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