US-based financial technology system Nasdaq has announced that it expanded its digital bank fintech presence in Latin America by agreeing to offer its AxiomSL solution to Nubank . Coming as an extension to Nasdaq’s existing collaboration with Nubank which includes offering the technology for the bank’s treasury function, the current agreement allows the financial institutions to meet its regulatory reporting requirements in Colombia.

In addition, the move underlines the increasing demand for third-party financial technology solutions in Latin America, supported by the accelerated development of digital banking in the region and the need for technology that can assist in a short time to market for new products and solutions. At the time of the announcement, Nasdaq had more than 50 banking and payment services clients in Latin America, including a range of digital and traditional banks, local and regional participants, and tier-one global financial institutions. The company delivers Nasdaq AxiomSL as part of its offering to assist financial and regulatory reporting obligations across 55 countries and 110 regulators, as well as Nasdaq Calypso, which provides the Software-as-a-Service (SaaS) technology platform that reinforces banks’ treasury, risk, and collateral management workflows. Nasdaq’s development strategy in Latin America By delivering technology of the fabric of the Latin American financial system and forging collaborations with the region’s market infrastructure operators, Nasdaq intends to facilitate augmented customer relationships and insight into complex operational difficulties.

When commenting on the current news, representatives from Nasdaq underlined that as digital banking services in Latin America see a period of advanced development, the company’s technology aims to serve the maturation of the industry and significantly minimise time to market, while offering a competitive advantage in the industry. Considering the regulatory complexities present in Latin America’s banking industry, Nasdaq centres its efforts on supporting market participants to resolve operational challenges while also allowing them to keep up with industrywide modernisation. Besides Nubank, several other digital and payment companies expanded their partnerships with Nasdaq, including Mercado Libre, C6 Bank, and Bankaool, among others. Source: Link .