The National Banking and Securities Commission (CNBV) has granted authorization for Plata to operate within the banking sector in Mexico, finalizing a process that the company initiated three years ago to enter the financial landscape. This step was announced by the financial institution through a statement, highlighting the significant regulatory scrutiny that has characterized the path toward this authorization.

Neri Tollardo, co-founder and CEO of Banco Plata, stated that this authorization signals the beginning of a year wherein the transition towards a digital banking model—which they already practice and serve three million active clients—will become increasingly apparent. Tollardo emphasized that the stringent scrutiny and regulatory processes that the sector undergoes are fundamental reasons why the banking sector in Mexico remains one of the strongest and most robust in the world.

Moreover, Tollardo noted that the entrance of new digital players like Banco Plata fosters competition within the banking industry, ultimately leading to greater access for the public. This progressive development indicates a shift in the banking landscape in Mexico, with digital solutions becoming more accessible and prevalent, encouraging a broader customer base and improved financial services overall.