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NVIO: First Regulated Fintech in Mexico

NVIO: First Regulated Fintech in Mexico
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The Rise of NVIO as the First Regulated Fintech in Mexico

In early 2021, NVIO will officially start operations as the first regulated fintech in Mexico, after completing the auditing process by the National Banking and Securities Commission (CNBV) and Banxico. NVIO aims to offer users a new way to manage their money through a 100 percent Mexican platform, without commissions, with absolute control 24 hours a day and all from one place, using their computer or smartphone.

The Journey to Authorization

Due to the pandemic, Mexican financial authorities carried out the first audit to initiate operations of a Financial Technology Institution (ITF) remotely. This authorization from the CNBV allows NVIO to offer services involving the issuance, management, redemption, and transmission of electronic payment funds through computer applications, interfaces, websites, or any other electronic or digital communication media. NVIO was the first of the 85 Fintech companies to apply to the CNBV, with sixty applications submitted as Electronic Payment Fund Institutions and twenty-five as crowdfunding companies.

Rebranding of Libra to Diem: A Focus on Independence and Regulatory Approval

Libra, the digital currency behind Facebook, has changed its name to Diem in order to obtain regulatory approval by emphasizing the project’s independence. The plans for Libra, presented by Facebook last year, had to change after regulators and central banks expressed concerns about its potential disruption of financial stability, erosion of control over monetary policy, and threats to privacy. The name change to Diem seeks to emphasize a simpler, revamped structure for the digital currency project.

Challenges for Female Entrepreneurs in Mexico

Female entrepreneurs in Mexico face significant barriers, including biases and limited access to training and credit. Mexico has one of the lowest levels of access to training and credit for women entrepreneurs among OECD countries. Only 17.2 percent of women say they would have access to credit to start a business if they needed it, highlighting the need for greater support and opportunities for female entrepreneurship.

Salesforce’s Acquisition of Slack: A Game-Changing Deal

Salesforce announced its plans to acquire the software developer Slack for $27.7 billion, marking the largest acquisition by the cloud software provider in its 21-year history. This acquisition is one of the largest in the software industry, with IBM’s $34 billion acquisition of Red Hat in 2018 and Microsoft’s $27 billion acquisition of LinkedIn in 2016 being the only larger deals. This deal highlights the significance of collaboration and communication tools in the modern business landscape.

The Threats of Cyber-Physical Systems and the Role of AI

Cyber-physical systems can be vulnerable to unnatural failures caused by malware injection or data extraction. David Rocha, Managing Director and Director General Latin America and Brazil of SparkCognition, highlights the importance of using AI and machine learning models to provide reliability, safety, efficiency, and security in cyber-physical systems. With technology playing an increasingly integral role in various industries, cybersecurity measures are crucial to safeguard against potential threats.

IBM’s Warning about Cyber-Attacks on COVID-19 Vaccine Distribution

IBM has raised the alarm about cyber-attacks targeting vital companies involved in the distribution of COVID-19 vaccines. The firm has uncovered a global phishing campaign focused on organizations associated with the COVID-19 vaccine logistics cold chain. This highlights the need for strong cybersecurity measures to protect critical infrastructure and ensure the safe and efficient distribution of vaccines.

A New Labeling System for Video Games

A new labeling system for video games will come into effect in May 2021, aiming to provide clearer age-based guidelines for game purchases. Games will be rated from A for the whole family to D, which can only be bought by individuals over 18 years of age. This new system replaces the old Entertainment Software Rating Board (ESRB) grading and aligns with international standards, making it easier for consumers to make informed choices about the suitability of video games for different age groups.

AWS Introduces Supercomputing Service and the Rise of Arm Technology

Amazon Web Services (AWS) has recently announced the release of its new supercomputing service based on self-designed processors using Arm technology. This move positions Arm as a strong contender against established leaders Intel and Advanced Micro Devices in the chip market. Amazon’s own chip brand called Graviton, developed using Arm technology, has disrupted the market and highlighted the potential for innovation and competition in the semiconductor industry.

Amazon’s Potential Acquisition of Wondery

Amazon is reportedly in talks to acquire the podcast startup Wondery. With Wondery estimated to be worth more than $300 million, Amazon sees the value in expanding its presence in the podcasting industry. This potential acquisition further emphasizes the growing popularity and influence of podcasts as a form of entertainment and information.

Conclusion

In conclusion, the tech landscape is constantly evolving, with new developments and challenges emerging regularly. NVIO’s authorization as the first regulated fintech in Mexico marks a significant milestone in the financial technology sector. Rebranding, such as the change from Libra to Diem, highlights the importance of regulatory approval and independence. The acquisition of Slack by Salesforce and potential acquisitions by Amazon demonstrate the continuous drive for growth and innovation among tech giants. Furthermore, the threats of cyber-attacks and the need for robust cybersecurity measures, as well as advancements in chip technology and the rising popularity of podcasts, all shape the future of the tech industry.

Frequently Asked Questions

What services will NVIO offer as a regulated fintech in Mexico?

As a regulated fintech, NVIO will offer services involving the issuance, management, redemption, and transmission of electronic payment funds through various electronic platforms.

Why is the acquisition of Slack by Salesforce significant?

The acquisition of Slack by Salesforce is significant because it marks the largest acquisition in Salesforce’s history and highlights the importance of collaboration and communication tools in the modern business landscape.

What are the potential benefits of using Arm technology in supercomputing?

Using Arm technology in supercomputing offers potential benefits such as increased competition in the chip market, innovation in semiconductor technology, and potentially more cost-effective solutions for customers.