CrossTech THE MAGAZINE OF THE CROSS BORDER PAYMENTS INDUSTRY THE MOMENT TO BECOME DIGITAL | AROUND THE GLOBE
CRYPTO START TIME TO CHANGE | SPECIAL INFOGRAPHIC
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| CROSSTECH 1Q - 2022
OPPORTUNITIES 1Q 2022
IN LATIN AMERICA | FINTEL INSIGHTS
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EDITOR’S LETTER
Hugo Cuevas-Mohr President and CEO of Mohr World Consulting, a consultancy based in Miami, Florida. Hugo has worked in the money transfer industry since 1987 for a family company that became one of the leaders of the remittance industry in Latin America.
EDITOR’S LETTER
EDITOR Hugo Cuevas-Mohr CO-EDITOR Priscilla D’Oliveira Friedman WEB EDITOR Virginia Martínez DIGITAL PRODUCT MANAGER Ana González CREATIVE MANAGER Carolina Busnelli CONTACT US AT María Auxiliadora García help@crosstechpayments.com
The Digital Currency Revolution is Here! We are extremely excited to launch our CrossTech Magazine Teaser; this is our first edition and we are honored and delighted to share with our community and partners the most relevant and interesting insights about our industry f rom those that drive change and evolution; the CrossTech leadership team and the industry -leading experts; on the latest innovations, products and services. On our monthly digital editions we will showcase topics that impact the market for incoming and outgoing remittances, B2B, B2C payments, fintech, and all exchange and currency movement activities. In this issue we parared and selected content to study and analyze the Digital Currency Revolution due to the recent Bank of England’s initiative to explore the viability of its own Central Bank Digital Currency that changed the international decentralized perception of digital currencies. This phenomenon led the way for Central Banks around the world to consider this financial
The views and opinions expressed in this magazine are those of the authors and contributors and do not necessarily reflect the position of CrossTech, The Platinum Network or IMTC. The content here is for informational purposes only and should not be taken as investment, business, co mp lian ce, or lega l advi ce. Co n ten t contained within this publication is not to be reproduced in whole or part without the prior written consent of the company. We welcome quotes of our articles by mentioning “CrossTech Magazine” or #crosstech and share the quote with us using our social media channels.
exploration, such is the case of Brazil; that expects to make cryptocurrencies transparent so that consumers and businesses are comfortable with using them becoming a powerful force to obtain financial inclusion and eventually embody the promise of a modern, tech-based economy. Learn more about this topic and more in our CrossTech Magazine Teaser edition as we explore INCLUDE CRYPTO MAGAZINE TOPICS to have a deep dive of what are the new transformations revolutionizing our industry. We hope you enjoy this issue and also analyze a different perspective into the constant-changing world of cross border payments and remittances..
Hugo Cuevas Mohr CEO & Founder
© 2022 | ALL RIGHTS RESERVED
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CONTENTS
NEXT 2022 ISSUE JUNE
SPONSOR OUR NEXT PRINTED EDITION FIRST 2022 PRINTED EDITION FOR CROSSTECH LATAM ADVERTISING | COLLABORATIONS | OPINION LEADERS | BE IN OUR COVER
AROUND THE GLOBE The moment to become digital o Page 4
OPEN BANKING RESPUESTA A LA DISCUSIÓN ¿CASH Vs DIGITAL? o
OPPORTUNITIES IN LATIN AMERICA What are the following steps to be part of the Cross Border Payments revolution on time? Page 12
Page 6
CROSSTECH INTERVENTIONS Participation on webinars and events on 1Q - 2022 o Page 17
CRYPTO START The moment to become digital o Page 20
WORLD 2021 Panels with insights for the industry in 2022 o Page 24
INTERVIEW TRAVELEX Panels with insights for the industry in 2022 o
SPONSORS
33
AGENDA
36
TRADE FAIR
34
SPEAKERS
38
HOTEL MAP
35
TEAM
40
Page 28
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AROUND THE GLOBE
2022
The moment to become digital Executives of the biggest companies of money transfers and Cross Border payments around the world agree on one thing when looking at the 2020 industry transformation: “The future is digitalization”
Priscilla D’Oliveira
T
wo years after the change of the dynamics in this f ield, the main thing for this scheme to be successful is f inancial inclusion and education. As f inancial services spread worldwide to reach even the most vulnerable populations, CEOs understand the need to give clients access to services and also bring technological solutions, whether it is through a cellphone, a computer, or an ATM, with a particular focus on people f rom rural areas that have limited access to resources. Being an industry that directly impacts families, these families are key to the process. For companies, the responsibility
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relies on creating good digital products that enhance the user experience and make it easy for the benef iciaries to open an account without all the paperwork to sign contracts; instead, investing time in helping them on how to use their money wisely. 2022 is promising to be the year when companies establish the new dynamics born in the two previous pandemic years. This year, the industry will turn into a combination of virtual playground and compliance lab; since the introduction of digital wallets, the fast-growing market of f intech and the adoption of blockchain technology protocols are boosting it up. 4
NUMBER OF CRYPTOCURRENCIES WORLDWIDE 12,500
10,000
7,500
5,000
2,500
0
2013
2014
2015
2016
2017
2018 Mar
2019 Nov
2021 Feb
2021 Jul
2021 Aug
2021 Oct
2021 Nov
2022 Jan
2022 Feb
CRYPTOCURRENCIES IN THE MAP The interest in Cryptocurrencies it’s been growing in a way never seen before in other markets, the growth of this asset has been exponential since the beginning and it will become more valued after the regulations that allow companies to make safe transactions, opening space for adoption and at the same time making Crypto more available for people. Although the market is not there yet, the use of Cryptocurrencies for Cross Border payments and remittances is not happening as fast as the adoption. An example of this is Banking institutions, digital wallets, and trust funds adding Crypto to their portfolio of products and preparing the market for massive adoption. Another case study is El Salvador, with the adoption of Bitcoin as a currency of everyday use in the country. Nevertheless, it has turned to Binance exchange for support in implementing Bitcoin as legal tender and the issuance of
The problem that companies are addressing is how to give easy access to clients to a bank account and become digital, especially to those with no infrastructure in their countries
Main Challenges The use of digital money instead of cash The use of formal channels instead of informal channels to send money Bitcoin bunds. Since there is skepticism f rom customers, the gradual evolution f rom Fiat to digital assets is mandatory before a complete digital transformation. 5
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FINTEL INSIGHTS
OPEN BANKING Daniel Trias
¿ES LARESPUESTA A LA DISCUSIÓN CASH VS DIGITAL? Casos de estudio comparativo: España y Brasil ¿CASH vs. DIGITAL? – Conveniencia, complementariedad, sustitución
¿Por
dónde
va
el
futuro?
Podrá
ser
la
desbancarización y la exclusión f inanciera de los bancos un daño colateral a la Inclusión Digital o, por el contrario ¿será un aporte para acelerar procesos, culturales, tecnológicos e integradores de la sociedad? ¿OPEN BANKING es el principio de la solución? Análisis de caso y enseñanzas para considerar: por un lado, lo negativo de un país de la Comunidad Europea como España y por otro, lo positivo de un país en desarrollo como Brasil.
CA S O E S PA Ñ A Desbancarización y Daño Colateral. El ejemplo de España que es uno de los 27 integrantes de la Comunidad Económica Europea y su actual realidad ante el problema que nos planteamos como pregunta. Según los datos del Banco de España, 4.400 de los 8.131 municipios que hay en ese país, no tienen of icina bancaria (el 54%). En total más de 1,6 millones de personas están sin acceso a una of icina en su municipio. XT
6
Aunque en términos relativos supone que solo
importante y muestra una cara diferente de la
el 3,5% de la población en España carece de
tecnología aplicada a los servicios f inancieros
acceso a una sucursal, encontrar una of icina
para la sociedad.
en algunas comunidades autónomas puede llegar a ser complicado. En las zonas rurales en
ELIMINACION DEL DINERO EN EFECTIVO
las que no hay of icinas bancarias es donde los
¿Problema o solución?
ciudadanos tienen más necesidad de ellas. Se
Creo que aún no es el momento de plantearnos
trata, en general, de zonas agrícolas con escasa
esa pregunta por razones socioeconómicas y
población donde buena parte de los habitantes
culturales como son:
pertenece a un grupo de edad que tiene más dif ícil el acceso a los canales digitales y están
Efectos sobre la privacidad y la libertad,
localizados en zonas con muy baja o nula
riesgo de exclusión f inanciera (aumento
cobertura de internet.
de la brecha digital en los más vulnerables: poblaciones
Cuidar costos y rentabilidad: La estrategia
rurales,
sectores
no
bancarizados, informales)
adoptada por la banca en los últimos años se basa en cerrar varias of icinas pequeñas y
Riesgo de control total de las instituciones
ubicadas en zonas cercanas entre sí, inclusive
f inancieras y del estado, choque de intereses
cierre de ATMs. El objetivo es dirigir a los clientes
(empresas de pago digital vs. empresas de
a que realicen las operaciones más sencillas a
custodia de valores)
través de las plataformas digitales. Uno de cada tres españoles, el 35 % de la
Economías
sumergidas,
población, se siente afectado por la desconexión
equilibrios
socioeconómicos
digital.
reflejados políticamente en países con bajo
Informalidad, que
se
ven
nivel democrático Los Bancos justif ican el continuo cierre de of icinas en el mayor peso que tienen los clientes
En este contexto, la solución pasa a ser
digitales y en la cada vez menor afluencia de
un problema, América Latina y el Caribe
clientes en las of icinas, lo que hace que los
(ALC) aún carece de fuertes normativas de
establecimientos sean poco rentables. Sin duda
protección de datos lo que es fundamental
la pandemia en su momento más crítico ayudó
para permitir un crecimiento responsable de
para que así fuera.
la digitalización.
Sin embargo, en ese escenario se ha abierto
¿Por qué aún puede perdurar el efectivo?
una brecha digital entre las generaciones más
Aunque
jóvenes y las más mayores en donde acciones
muchos factores como los ya mencionados,
tan sencillas como retirar dinero en efectivo o
es clave para evitar la exclusión f inanciera y
consultar la cuenta bancaria pueden llegar a
la discriminación de determinados perf iles
ser dif íciles en la llamada España vaciada. La
económicos, sociales o etarios.
parezca
una
contradicción,
entre
digitalización es integración, no abandono. El aislamiento digital de las zonas rurales En España aprox. 10 millones de personas (25%)
en
son mayores de 65 años por lo que el impacto
desarrollados, es un factor importante para
de esta desbancarización vs. los benef icios de
considerar la manera de incorporar alternativas
la digitalización y la inclusión f inanciera es muy
de inclusión accesibles al ecosistema. 7
muchos
países,
principalmente
los
no
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CASO BRASIL Digitalización y “Open Banking”: ejemplo para el mundo
El OB es el nuevo concepto que plantea una sinergia entre instituciones f inancieras (IF) y
Desde un país en desarrollo inser to en
Fintech en ALC. En términos generales, en ALC
una América Latina por tadora de una de
el proceso de “Open Banking” es lento, en la
las
del
mayoría de los países porque aún los bancos
planeta, surge una alternativa que comienza
tienen una relación exclusiva con sus clientes,
a mostrar soluciones sustentables a estas
sus lobbies locales y son celosos custodios de los
problemáticas.
datos que mantienen estrictamente dentro de
mayores
desigualdades
sociales
sus instituciones. Su
clave
está
en
fortalecer
la
inclusión
f inanciera a través de un fuerte desarrollo
La posibilidad de que los datos de los clientes
de las Fintech, un regulador acompañando
sean compartidos crea enormes oportunidades
ese proceso y en colocarse a la vanguardia
al mercado y a los países, al igual que verdaderos
del “Open Banking” (OB) en América Latina
desafíos culturales, diferenciados por los avances que
y
cada uno de ellos realice en la materia, principalmente
Caribe
aprovechando
su
incidencia
en regulación y educación financiera.
geopolítica. XT
8
analizada por país, y a modo de ejemplo: Bolivia 84.9%, Paraguay 68,9%, Perú 68,4%, Argentina 49,4%, Ecuador 63,5%, Colombia 62,1% Brasil 47,1% y en Centroamérica promedia el 70,5%), lo que refleja un alto grado de desbancarización,
Informalidad Laboral Bolivia
84.9%,
Paraguay
68,9%,
Perú
68,4%,
Argentina
49,4%,
Ecuador
63,5%,
Colombia
62,1%
Brasil
47,1%
estando aún muy lejos de alcanzarse el objetivo tan ansiado de la Inclusión Financiera. EL ROL DEL REGULADOR Los
reguladores
mandatos
de
de
ALC,
inclusión
presionados
financiera
de
por los
organismos internacionales, ONU, GAFI, BCO. MUNDIAL entre otros, promueven ecosistemas abiertos del tipo PSD2 en Europa y “Open Banking” Standard en el Reino Unido, pero llevados al estilo latinoamericano nos encontramos con
*Centroamérica promedia el 70,5%
mayores asimetrías en su marco regulatorio país a país, lo que hace que los procesos sean más lentos en su accionar. Sin embargo y por suerte tenemos a países liderando esos procesos, como la locomotora de un tren que no tiene retroceso, BRASIL es el ejemplo para seguir. A enero 2022 en Brasil (recién comenzado el proceso) se habían registrado 3,3 millones de autorizaciones de clientes para compartir datos del sistema financiero.
Antes de profundizar en el caso Brasil es importante
Se nota un crecimiento de número de APIs, pero
recordar que para los Bancos Centrales Autonomía no
continua a ritmo lento, a diferencia de lo que sucede
es lo mismo que Independencia. Los bancos de ALC
con los productos, ejemplo: PIX que fue creado en
tienen autonomía y por lo tanto asimetrías regulatorias
noviembre 2020 (sobre el cual profundizaré más
que dificultan acciones conjuntas, mientras que, por
adelante) y tiene una gran aceptación popular,
ejemplo, la Comunidad Europea tiene un único Banco
incluso se dice que ha sido la estrategia clave del
Central que le da Independencia y puede enviar
éxito del “Open Banking”, primero dando beneficios
directivas a todos los países miembros- ejemplo PSD2,
con educación financiera al usuario para su acceso
por lo que un único mandato puede ser aplicado por
al ecosistema y después incorporando inclusión
los 27 países miembros, lo que representa sin duda
financiera con el fin de lograr su integración al mismo,
una gran ventaja comparativa ante ALC.
lógico que acompañado de tecnología, telefonía móvil, acceso a internet y de un marco regulatorio
INFORMALIDAD VS. BANCARIZACIÓN
que ha leído bien los secretos para el éxito en el país
El COVID dejó en ALC a 158 millones de personas
con la mayor población y economía de ALC.
dentro de la informalidad (fuente OIT) lo que ha motivado la creciente necesidad de trabajar en
DONDE RADICA EL ÉXITO DE BRASIL
inclusión f inanciera. La informalidad laboral se
PIX ¿Un catalizador del “Open Banking”?
ha incrementado aún más (según datos OIT y BM
En Brasil, muchas IF, deseosas de aprovechar 9
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los beneficios de la banca abierta, se están
del regulador, con productos prácticos, accesibles
adelantando a los requisitos del regulador y
y
éste acepta el desafío de liderar esos procesos.
edificios). Brasil ha sabido aprender de los errores
Prueba de los esfuerzos de Brasil para fomentar la
del Reino Unido, experiencias que fueron aplicadas
innovación es el lanzamiento por parte del Banco
a su PIX
Central de Brasil (BACEN) de un producto llamado
Financiera, donde el escenario de adultos mayores
PIX que es un sistema para pagos instantáneos
está demostrando que los daños colaterales del
que permite la realización de transferencias y
progreso tienen que ser atendidos de otra manera
pagos electrónicos, y que hoy representa más de
y exigen un nivel de responsabilidad social tanto
la mitad de las transacciones bancarias realizadas
de los operadores privados como de los gobiernos
económicos,
en ese país.
gratuito, 24x7, de pago instantáneo, con mayor seguridad antifraude “blockchain”-
y
puede
ser aplicado de p2p2, b2b, c2c para pagar cuentas del gobierno y
hasta
para
letras
chicas
ni
grandes
y también de España para Inclusión
y de todos quienes promueven
El PIX es un producto disruptivo,
-sistema
sin
que
un
usuario
pueda, estando en una playa de Brasil, pagar un helado con PIX de su móvil al móvil del heladero -beneficiario- “wallet to wallet”. Sin duda es inclusivo, dando acceso a las clases de bajos ingresos que no tienen la posibilidad de abrir cuentas en los Bancos tradicionales por aplicación del denominado “de-risking”, y es eso lo que hace al éxito del producto. Son los productos quiénes nos acercan al sistema financiero con inclusión y no solo bancarización, términos
Brasil ha sabido aprender de los errores del Reino Unido, experiencias que fueron aplicadas a su PIX y también de España para Inclusión Financiera, donde el escenario de adultos mayores está demostrando que los daños colaterales del progreso tienen que ser atendidos de otra manera
que deberían ser revisados.
la inclusión financiera como un objetivo primordial de desarrollo social, económico e integrador. En paralelo esta misma evolución exponencial de la tecnología ha presionado a la banca tradicional a
reconvertirse
competir
con
para el
poder
crecimiento
arrollador de las “f intechs” y sus soluciones disruptivas. Sumado a
esto,
la
digitalización
total
sin exclusión aparece aún un poco lejana en el tiempo en un mundo lleno de desigualdades e intereses contrapuestos. INCLUSION FINANCIERA RESPONSABLE Objetivo de la comparación España- Brasil El
caso
de
España,
con
un
abandono abrupto de más del 50% de los municipios menores, es un
Hoy tenemos en Brasil a más de la mitad de
claro ejemplo de lo que ya se empieza a visualizar
su población de 213 millones de habitantes
en Latinoamérica por lo que los operadores y los
como usuarios PIX, este producto permite la
gobiernos tienen que pensar en formas de palear
bancarización, inclusión y educación financiera. La
los efectos negativos, considerando alternativas
clave está en conjugar la necesidad de las personas
innovadoras (Ej. PIX en Brasil) el fortalecimiento
no incluidas, incluso trabajadores informales,
de la educación f inanciera como responsabilidad
que abren cuentas en Bancos Digitales (mayor
de
practicidad, menores exigencias, cumplimento
responsable y permitir el uso fluido de alternativas
legal acorde a su operativa y están bajo el control
de pago, y también poniendo sobre la mesa la
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10
la
banca
para
realizar
una
transición
responsabilidad social empresarial necesaria para
culturales,
regulatorios,
sociales,
políticos
considerar a todos aquellos que la digitalización
y de mercado de cada país para potenciar
ha excluido y excluirá de los procesos de IF, a todos
los impactos del nuevo ecosistema y hacer
los que no podrán digitalizar sus vidas por diversas
proyecciones adecuadas incluyendo en este
razones, principalmente la generacional, aunque
modelo a todos los sectores de la sociedad.
no la única (geográf ica, cultural, accesibilidad a la tecnología y a la conectividad a internet en área
Es nuestra obligación acercar a la Base de
rurales, por ejemplo).
la Pirámide (más de 4 billones de personas olvidadas en el mundo) los benef icios de la
No se trata de desconocr una realidad inexorable,
globalización para reducir la brecha digital,
se trata de gestionarla responsablemente para
social y económica. De no hacerlo corremos
reducir el impacto del daño colateral y potenciar
el
sus efectos positivos.
estos temas en foros internacionales de alto
riesgo
de
continuar
sólo
discutiendo
nivel, pero sin lograr el necesario objetivo de El crecimiento del “Open Banking” por parte
integración real de la Base de la Pirámide a la
de los usuarios en Brasil es exponencial, pero
sociedad. Sin duda el Banco Central de Brasil
no podemos dejar de considerar los aspectos
aceptó ese desaf ío.
FINTEL INSIGHTS
OPPORTUNITIES Jennifer Holguín
IN LATIN AMERICA
What are the following steps to be part of the Cross Border Payments revolution on time?
R
ight now, technology is the difference between traditional banking and new banking that is being born after the pandemic institutions are centering the focus of the operations on product development based on people’s needs and alliances that help grow the operations in a faster way because the time is now, as competitiveness is a signif icant factor to stay in the market. Before, we had an industry centered on assuring the operation by validating a client’s records; now, the center of the operation is people, what they consume, how they consume, and why they consume these products. From this perspective, companies have an opportunity to reinvent the offer by developing products that are accurate to the actual needs of the client, looking to satisfy the client before anything else, and thus looking to make strategic alliances that allow meeting these needs on time.
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CROSS BORDER
This way, we have a variety of products that are being offered to bring essential solutions such as:
LATAM MARKET Remittances to LATAM are a matter of
Digital bank accounts: a person can open an account f rom mobile without paperwork
families depending on this “Commodity” and technology is crucial to the process, becoming
ATM cashback remittances services: with a call center service to guide the benef iciary through the whole process to make it easy for them and assure they have a better product experience and, in some cases, including extra benef its thanks to alliances
a
responsibility
of
the
institutions to create great technology to land great services to the benef iciaries for them to collect their money in the easiest way possible. The
insights
about
the
future
of
payments are a tendency for cash to disappear
Digital f inancial ecosystems: including digital wallets and prepaid cards as solutions to access payments
and
the
adoption
of
QR
code payments. In such cases, QR code systems are a promise that will bring many solutions and opportunities to address
Payments through a bank deposit to any bank in a country
markets
vulnerabilities,
i.e.,
offering small stores the option not to use cash and have a safer operation, or even institutions may use it as a tool to
QR code paying systems
support the government to grow the
Deposit cash in a store to a bank account
economy. The applications are multiple, and the outreach can suit many needs in
the
social
f ield.
Companies
are
committed to being responsible and are
“All of this is possible because alliances accelerate the process by leveraging the activities on these third parties’ expertise and saving the time needed to keep innovating”
working on these solutions. A clear example is the growth of the outbound business, f inding alternatives to Swift that are cheaper, faster, and secure. As institutions f inancially include more people, more opportunities will come out.
Looking to make alliances & Networking? Come to our next CrossTech Conference in LATAM, in Sao Paulo, Brazil April 26-27, for the best Networking event of the región. 13
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Apr 26-27
Jun 21-22
Nov 15-17
SPECIAL FEATURE
CrossTech on 1Q of 2022 Around the world
Priscilla and Hugo peaking in a free training cycle of @ConnectAmericas and IDB, Ruta de la #PymeExportadora. Topics help SMEs adopt tools to analyze, adapt and expand their potential for trade and integration on a global projection.
LEARN MORE
HUGO CUEVAS-MOHR 2021 INSIGHTS
RemitONE celebrated IPR Innovation in Payments and Remittances on March, and is On-Deman now Don´t miss a moment! Catch up with all the previously aired content f rom innovation in Payments & Remittances EMEA 2022
RemitOne webinar 2022 Watch on Demand
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Q&A PRISCILLA D’OLIVEIRA PARTICIPATION ON PANEL “BETTER TOGETHER: THE CROSS BORDER REMITTANCES ECOSYSTEM“ RO. How significant is the remittance industry? Who are the traditional and new players in the remittance ecosystem? P. The remittance company has transformed rapidly in the last 5 years and is becoming more digital. Regarding market size and to alliedmarketresearch.com. the global
WE B I N A R
remittance market was valued at $701.93 billion in 2020
PRISCILLA D’OLIVEIRA
and is projected to reach $1.2 Billion by 2030. With this new transformation and globalization specifically during
COO, CrossTech
the pandemic, many money transmittance service providers had to focus on digital remittances to enhance their business and provide faster transactions to clients (P2P).
RO. What are the developing trends within our ecosystem, and what is RaaS?
Agents are also providing services digitally to their clients. But the industry has become much more than
P. The developing trend of the industry is why build
remittances with new services such as B2C fueled by the
if you can buy. Innovation is improving the money
“Gig Economy” and B2B, fueled by eCommerce. Those
transfer business. The rise in mobile-based payment
markets are 10 to 20 times larger than remittances and
channels and cross-border transactions and decrease
money transfer providers are using their technology and
in remittance transfer time & cost drives the growth
experience to grow in these new segments.
of the market. White label solutions and digitalization utilizing API integrated tools are saving companies
From a personal perspective as a LATINA, I am a big
the trial of failure and linking them to get licensed in
believer in helping immigrants and that has always been
multiple states along with operating in a quick and
a passion to support this industry, how we continue to
efficient manner not losing their brand presence.
move funds to these markets to help society prosper and our “native” society receive some of our achievements
RaaS (Remittance as a Service)- is a go-to solution
in “our” own country. To back up this sentiment, as you
for many MSB, FinTechs, and small businesses and is
know sometimes 60 to 70% of a poor family’s income is
a solution that we recommend for our clients in our
primarily derived from remittances. This is a mission that any immigrant should defend in the industry.
consulting division. There are different RaaS solutions,
Now, let’s discuss traditional and new players in the
licensing and reporting, some are now providing
remittance ecosystem. To name a few: the traditional
banking rails too. RemitOne is a great example of a
players in the market are MoneyGram, RIA (Euronet),
RaaS technology providers solution.
some are only technology providers, some also provide
Western Union and some of the new players are Wise, Azimo and Currencies Direct. As I navigate in this
The idea of partnering with not only a producer but
industry, I learn every day new FinTechs are coming
manager of a white label service means reducing costs
into the market with new solutions involving money
from software maintenance and servicing, businesses
transfer, digital banks, and many more. The crypto
can focus their capital on marketing and customer
industry is slowly but surely making gains partnering
service while trusting that their partners have the
with the industry.
experience and know-how on the product.
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SPECIAL FEATURE
“There are different RaaS solutions, some are only technology providers, some also provide licensing and reporting, some are now providing banking rails too. RemitOne is a great example of a RaaS technology providers solution”
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CRYPTO START!
TIME TO CHANGE
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THE FINANCIAL WORLD IS CHANGING, AND OUR PAYMENTS ARE CHANGING TOO! Fiat is no longer the only way to store and use money; now we have Cryptocurrencies. Crypto is available anytime, anywhere in the world. It is not physical money but digital money stored in the blockchain
BLOCKCHAIN IS A SPECIFIC TYPE OF DATABASE
Hugo Cuevas-Mohr
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t differs f rom a typical database in storing information; data is recorded in blocks and these blocks are chained together using cryptography. As new data comes in, it is entered into a new block. Once the block fills up with data, it is chained onto the previous block, chaining it together in chronological order. This group of blocks form a layer; when this layer is complete, a new one will start on top, with the first block of the current layer, making it impossible to 20
change the information already stored. That is the reason why it is secure. You need an account on a reliable exchange to buy cryptos, such as Binance or Bitso. Remember, the Crypto world is not regulated, and everything is based on speculations until proven otherwise. So, the best thing you should know is that you must be careful about where to buy and how to access your account.
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SPECIAL FEATURE
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We have a workshop you might want to learn from
GET INFO
!
| TRADE
| EARN Once you follow the security steps, the rest is a piece of Crypto cake or, even better, a Crypto Bakery, since there are many options to invest in, also many ways to earn more crypto, i. e.
| SAFETY
| ACCOUNT When opening an account on any Crypto exchange, you have to validate it and set a Two Factor Authentication (2FA) like Authy. Authy is a 2FA to validate your identity before logging into your account, available for Apple and Android devices
Set your antiphishing code; this is a code you enter when validating your account. It will appear in every e-mail you receive from your exchange, so you know it is a valid e-mail address, and you don’t get fooled by a hacker trying to steal your Cryptos
Now that you know how to create a secure account to invest in Crypto, the next thing is to learn how to sell and trade among other options, you might discover in your race to become a Crypto expert, each full of opportunities and a world of learning
Staking
The process of locking up crypto holdings to earn interest
Launchpool
Stake your Crypto and earn interests in the form of new tokens
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Hugo Cuevas-Mohr is the founder of The Platinum Network, Inc (PNET). The company that developed and manages the CrossTech Conferences, formerly known as IMTC Conferences, was founded in 2010, and Mohr World Consulting (MWC), founded in 2001. Throughout his career, Hugo has developed other profit and non-profit initiatives in remittances & migration. Previous to PNET he spent more than 20 years in various roles in the money transfer & foreign exchange institutions, owned several MTOs and became a consultant, advising several companies & financial institutions in the Money Transfer & Cross Border Payments Industry all over the world and is a mentor for several fintech start-ups. PNET has a presence in Miami, Mexico City, and Madrid. He has worked alongside many regulatory bodies looking to facilitate the dialogue between them and the industry, such as Banco de España, and he is part of the Industry Advisory Council (IAC) of the US MSB regulators.
SPEAKER
| May 4th
Cash&Crypto Global Currency Forum PortAventura – Spain May 2nd-5th WWW.GLOBALCURRENCYFORUM.COM UPCOMING EVENT In-Person event organized by The International Currency Association (ICA)
CrossTech on 1Q of 2022 Around the world
MODERATOR | Monday, January 31st De Risking: Presente, Pasado y Futuro Speaker: Roberto Mella Cohn - RMC,
SPEAKER
| Tuesday, March 1st
Estado de la Industria de Remesas y Pagos y las Tendencias Actuales:
Bob Lopez - LJ COMPLIANCE
Digitalización en Marcha
WWW.DELITOSFINANCIEROS.ORG
WWW.CEMLA.ORG
PAST EVENT Webinar de ACFCS Asociación de Especialistas Certificados en Delitos Financieros
PAST EVENT Webinar de Seminario sobre Remesas y Migración
Asociación de Especialistas Certificados en delitos Financieros
WEBINARS & EVENTS 2022
This year we are participating on several events of the industry and you can benefit from it. Next one is on May 4th. Stay tuned!
WORLD 2021 WAS
A SUCCESS
A n d we want to share th e succes s w ith yo u. Access t h e pan els w ith th e exper ts o f t h e in d us tr y!
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MAGAZINE Want to be in our Magazine?
BUY YOUR AD
NOW! violeta@crosstechpayments.com
CONTACT US
80%
INSIGHT Travelex Bank is a 100% digital and 100% personal bank
Growth
In volume traded, while the market grew 12%
It was the first exclusive foreign exchange bank approved and regulated by the Central Bank of Brazil, in 2010
N I C E TO M E E T YO U
ANA TENA XT. Recently, Travelex Bank disclosed its financial statement from 2021 and you have practically doubled in size. What drove it to this growth? AT. We achieved a growth of almost 80% in volume transacted, income, and net income. We are focused on sustainable growth for our customers and our company. With a 100% digital, 100% personal focus, we invested in digitalization, improvements in the Internet Bank, APIs, infrastructure, and continuous training of our sales force. The growth of agribusiness, imports, exports and cross border mass payments also made the segments gain prominence in our performance, in addition to CCMEs (Portuguese abbreviation for Current Accounts in Foreign Currency). We attend to each and every client, individual, or organization, in their international transaction needs. We still have a lot of opportunities for growth, we are specialized in foreign exchange, but we understand that the best path is to be closer and closer to our customers. I believe that innovation is serving the customer the way he wants. Exchange is extremely regulated in our country and having a dedicated manager in this area makes all the difference. Thanks to the planning and dedication of the Travelex Bank teams, we have achieved significant advances in our segment, always following market movements and innovations:
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CEO TRAVELEX BANK & TRAVELEX CONFIDENCE BROKER
- We achieved an 80% growth in volume traded, while the market grew 12%; - We were the 3rd fastest growing bank in 2021; if we talk exclusively about the exchange bank, we were the one that grew the most; The Travelex Financial Conglomerate, whose main philosophy has been to specialize in Foreign Exchange and Foreign Trade, remains firmly committed to its customers and to the development of its business, increasing its position in the Brazilian financial market every day and providing its shareholders with expected.
XT. What are your expectations for the global market in 2022? AT. It’s important to consider that the financial scenario is undergoing major transformations and disruptions, so we need to be agile and understand our client’s needs. There is much competition, innovative technologies, and companies reinventing themselves and looking for alternatives to attend to increasingly demanding and connected customers. I believe that one of the foremost leading global bets is innovation. Companies that care about the customer experience, that care about being where the customer needs them and are committed to business sustainability will prosper and reap good results in the near future. People are the genuine agents of a transformation; may this transformation be intellectual, cultural, or political.
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Thanks to the planning and dedication of the Travelex Bank teams, we have achieved signif icant advances in our segment, always following market movements and innovations
What are the main products offered by Travelex Bank?
Import & Export Financial operations Banknotes
AT. Travelex Bank is a 100% digital and 100% personal bank. We were the first exclusive foreign exchange bank approved and regulated by the Central Bank of Brazil, in 2010. We offer services to individuals and companies of all sizes and for the most diverse sectors.
Forward to import Forward to export Foreign Currency Current Account Mass Payments
Our great differential is the customization of service. We provide consultancy with foreign exchange specialists, in addition to offering Internet Banking for the convenience of our customers, who can operate with more than five foreign currencies in their exchange operations, wherever they are.
Registration Services for foreign trade Internet Banking
Travelex Bank is the only foreign exchange bank in the country with an exclusive segment for high-income individual clients, in which we offer a differentiated and valuable service also supported by three exclusive business platform for personal meetings in São Paulo and Rio de Janeiro. Here at Travelex Bank, we have the solidity of a bank with the practicality of a fintech, offering a wide portfolio of foreign exchange products and services for the most different types of customers and market segments.
We work in all market sectors, not only importing and exporting, but also receiving dividends, mass payments, purchases, and acquisitions of real estate abroad. In addition, as we are specialists in foreign exchange, corporate funds make their investments and contributions with us. We have the agility and expertise he needs in such a volatile market. Among our main services are:
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Si eres Asociado ABRACAM, solicita tu código de descuento para CROSSTEHC LATAM 2022 If you are an ABRACAM Associate, request your discount code for CROSSTECH LATAM 2022
INTERVIEW WITH KELLY MASSARO IMTC WORLD 2021 CONFERENCE
Kelly Massaro, Executive President, ABRACAM She holds a business management degree and over 28 years of professional experience, of which 21 years are dedicated to the financial and foreign exchange market, with a solid background in financial compliance. She is the executive president of the Brazilian Foreign Exchange Association (ABRACAM), leading the institutional relations with the country’s government, Congress and Justice, market players, and other associations representing financial firms in Brazil and abroad.
ABRACAM is the largest representative entity of specialized institutions in the Brazilian foreign exchange market. A non-profit association that works hard to bring the best results to its members contributes to expanding and strengthening the foreign exchange market and the country’s economic, social, and sustainable development.
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CrossTech LATAM
DIAMOND D1 - TRAVELEX PLATINUM P1 - BANCO DAYCOVAL
TRADE FAIR MAP & VIP LOUNGE
GOLD G1 - UNITELLER G2 - CROSSTECH CONSULTANCY
SILVER S2 - BEETELLER BRONZE B1 - USEND B2 - VISION CAMBIO B3 - B&T BANK
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HOTEL MAPS
CrossTech LATAM
PÇa. Alexandre de Gusmāo
Alameda Santos
Sala
Pinheiros B
Sala Liberdade
Sala
Pinheiros A
Sala Ipiranga
Trade Fair Plenary VIP Lounge Staff Room
Alameda Santos
PÇa. Alexandre de Gusmāo
Restaurante BistrÔ Tivoli
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CROSSTECH LATAM 2022 AGENDA Day One - April 26
9:00 - 9:30
9:30 - 10:00
10:00 - 10:45
10:45 - 11:35
11:35 - 11:55
11:55 - 12:40
12:40 - 1:25
Wel com e CROSSTECH L ATAM Brazil 2022 Hugo Cuevas Mohr - CrossTech, Priscilla Friedman - CrossTech
Welcome Remarks Angelo José M. Alverne Duarte, Central Bank (Keynote speaker)
Joining the Cross Border Payments Revolution Is regulation enabling the growth of mobile payments, B2B businesses, and e-commerce? NETWORKING BREAK
Interview with Bernardo Mota: Cyber Security-Dark Web and Money Laundering Digital Transformation Is the industry adapting fast enough? Experts discuss the trends and challenges
Fintechs: Is regulation adapting to the innovation needs of the market? Experts discuss the needs & trends
1:25 - 2:45 2:45 - 3:05
3:05 - 3:50 3:50 - 5:00
5:00 - 5:45
5:45 - 6:30
6:30 - 6:45
LUNCH BREAK
PIX Brazil's competitive advantage for the region and the world
Opening Banking Transforming the financial system NETWORKING BREAK
Digitalization and its importance of the Brazil market Discussing inbound and outbound remittances
Post - Covid: The Cross Border Payments Industry fueling globalization Are we doing enough? Discussing the challenges ahead
DAY 1 CLOSING
CROSSTECH LATAM 2022 AGENDA Day Two - April 27
9:00 - 9:30
9:30 - 10:00
Wel com e CROSSTECH L ATAM Brazil 2022 Hugo Cuevas Mohr - CrossTech, Priscilla Friedman - CrossTech
The NASDAQ Dream
Becoming a Public Company
10:00 - 10:45
E-commerce & Cross Border Payments
10:45 - 11:45
NETWORKING BREAK
11:45 - 12:30
12:30 - 1:15
Partnering for success
Cryptocurrencies and Virtual Assets Are Brazil’s new regulations what the market needs?
B2B & B2C The future of Cross Border Payments
1:15 - 2:35
LUNCH BREAK
2:35 - 3:30
CASH & DIGITAL
3:30 - 4:15 4:15 - 5:15 5:15 - 6:00
6:00 - 6:30 6:30 - 7:00 7:30 - 10:00
Strategies and Alliances for successful partnerships
CROSSTECH Growth strategies that have changed the industry NETWORKING BREAK
Opportunities in Brazil Investing or Partnering - What is your opinion?
Transforming the Fintech Industry Women making a difference Raffle and Closing CLOSING COCKTAIL
VIEW FULL AGENDA
SPEAKERS
ALBERTO GUERRA
ALOISIO MATOS
ÁNGELO DUARTE
BERNARDO MOTA
CAIO BRETONES
DANIEL TRÍAS
DIEGO PEREZ
EDISIO NETO
GENE NIGRO
GERALDO MAGELA
GUILHERME QUINTINO
HENRIQUE TEIXEIRA
HUGO CUEVAS-MOHR
JIHANE HALABI
JULIA DE LUCA
KELLY MASSARO
MARCIO ESTRELAV
MARCOS GOULART
PRISCILLA D’OLIVEIRA
RALPH BORAGINA
RICARDO AMARAL
RODOLFO BUENO
ROBSON ARANHA
SERGIO MORGANTI
TULIO PORTELLA
MEET ALL OUR SPEAKERS XT
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CrossTech
OUR TEAM Hugo Cuevas Mohr President & CEO CrossTech
Priscilla Doliveira COO CrossTech
Claudia Ávila Director of Conferences and Sales
Jennifer Holguín Lead Consultant
Ma. Fernanda Valera
Isabel Cortes UK Consultant
Digital Events Manager
Lourdes Soto Spain Consultant
María A. García Customer Service Virginia Martínez IT Consultant Gabriel Cuevas
Marketing Consultant
We are thankful to all our staff and the supporting team of collaborators who help us develop our conferences in each of the cities and regions we select to host them. Without their help, it would be impossible for us to give all the participants in our in-person and virtual events the unique experience we strive to give everyone attending.
Marcela Molina Sr. Designer Ana González Digital Product Manager & Content Carolina Busnelli Creative Manager & Content Juan Posadas Business Analyst
Check our next destinations and join us!!
Diana Jofre Executive Assistant
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Next Printed Issue - June 21st SPONSOR NOW
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