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The Amazon of Latin America has a $3.6 billion plan: Mercado Libre will invest 19 billion reais in Brazil, in part to fund its fintech arm鈥攚hich poses an enormous threat to the region鈥檚 banks.

Embedded finance fintechs and those with disruptive potential are still attracting investment despite the funding decline.

It's already gotten that started by transitioning it's branded prepaid cards into essentially neobank checking accounts. So it's got a lot going on there. And it does have Walmart Pay, which it may not be used to the extent that Apple Pay is used, but I think you do have some Walmart Pay loyalists that have bought into Walmart Pay. It's not just dead on arrival.

Do you see, with all these issues with traditional banks, do you see any of these brands moving to a neobank or a digital bank as maybe an alternative? Jeremy Goldman:. I think that it's a really interesting question. I think the answer is probably people are going to look at that as one of many different places where they can park their revenues.

If you're a financial institution, if you're a neobank, or if you're a large money center bank, or if you are an emerging micro lender, make sure that every touch is personalized, relevant, and timely. And that goes a long way to fostering in and generating trust. Rob Rubin:.

I think the verdict is still out about how well it actually works, but we've already seen one example of a neobank that has launched a generative AI-driven platform. Marcus Johnson:. Tiffani, what, as consumers, can we expect to see from banks in some of these generative AI virtual assistants? As a banking customer, how would I expect to use one of these in the next year or two? Tiffani Montez:.

What I think is interesting is what some of the neobanks are able to do. Talk about Chime as a value proposition. Get paid two days early. That was their value proposition for a checking account. When you have a very simple value proposition, it's easier to stand out. The challenge with a bank that serves multiple generations is, how do they stand out?