Entering 2022 it is possible to analyze how what is already working will continue, which issues can grow and become stronger and which could decrease in intensity.

The effect of the pandemic was significant in this industry. To cite an example, in 2021 the use of virtual wallets grew by 340% compared to 2020.

The growth was based on an exogenous, non-disruptive element: there is no product that has leveraged the rise.

When it comes to embedded finance, Latin America is going to be the region with the most opportunities in the world for this type of market.

This is because we have low penetration of banking services, low access to banking products per se, but high adoption of technology and consumption of other services.

If this population is reached with financial services and through the usual channels of consumption, it will add a lot to the financial market.

We see the clear trend of companies in traditional sectors that are already digitized, and in recent years they have entered a process of disruption, seeking to link up with financial services.

The usability penetration of crypto in daily life is another important topic. Issues related to payments are going to grow through crypto channels, probably with experiences from other players, as in the case of embedded finance, especially in Argentina.

Although it costs much more for the traditional bank to adopt a crypto investment product, if a retail company builds its wallet, it will not have as much problem in remunerating users for the use of its own wallet with a crypto model. If we lose our fear, there is much to learn.

In open banking this year there will also be advances. The social demand that will fall on traditional banks is going to be a market demand.

Whoever adapts to provide better service and associates with companies that want to use the penetration they already have to go with their own clients in these ecosystems, will end up winning.

They will go towards an open banking model, perhaps not as regulated, egalitarian or super distributed, but they will be the ones with access to products. And also to conquer the field of embedded finance, where financial services will be in the coming years.