Nasdaq, Inc. (NDAQ) is making its mark in the Latin American financial technology market by expanding its digital bank operations. The company has entered into an agreement with Nubank, a leading digital bank serving over 100 million customers in Brazil, Mexico, and Colombia, to provide its AxiomSL regulatory reporting solution. This deal signifies a major step forward in Nasdaq’s partnership with Nubank, extending support from treasury operations to regulatory reporting in Colombia.
This move underscores the increasing demand for third-party financial technology solutions in Latin America. The region is experiencing a surge in digital banking, with new products and services demanding rapid market entry. Nasdaq is well-positioned to capitalize on this trend, serving over 50 banking and payment services clients in the region, including a mix of digital and traditional banks, local and regional players, and tier-one global banks.
“Digital banking services in Latin America are experiencing a period of extraordinary development, with online marketplaces, open banking and innovative technology combining to empower a new generation of consumers,” said Ed Probst, Senior Vice President, Regulatory Technology at Nasdaq. “Nasdaq’s technology is helping to underpin the maturation of the industry, with proven regulatory solutions substantially reducing time to market and providing a competitive advantage in such a fast-paced industry.”
Nasdaq’s recent commitment to Latin America aligns with its overall strategy to strengthen its Financial Crime Management Technology business. The company recently unveiled a new leadership structure to support its continued growth.
Investors looking to gain exposure to Nasdaq’s stock can consider the Listed Funds Trust Horizon Kinetics Blockchain Development ETF (BCDF) and the iShares U.S. Broker-Dealers & Securities Exchanges ETF (IAI).
NDAQ shares were down 0.08% at $74.23 premarket at the last check Monday.
