The rapid growth in Brazilian fintechs has created a heated debate about their likely impact on incumbent banks.
After the big bang of startups created by financial digitalization, Brazil’s central bank says the number of fintechs has already exceeded 600.
But such rapid growth is unsustainable, even for a banking market like Brazil’s, which has both scale and large profit margins.
Many analysts expect that this rapid process of digitalization will shake out in the next five to 10 years.
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