Nasdaq Partners with Latin American FinTechs to Drive Innovation and Growth

In a sign of its expanding footprint with Latin America’s fintech community, Nasdaq is expanding its partnership with Nubank to bring Nasdaq’s state-of-the-art technology and regulatory solutions to the Brazilian digital banking giant. 

Nasdaq AxiomSL will help Nubank meet various regulatory reporting requirements in Colombia. In addition, Nasdaq will continue to aid Nubank in managing its fixed income and money market operations through the Nasdaq Calypso SaaS technology platform. 

AxiomSL brings tremendous value to banks grappling with complex reporting needs, and even further value for those trying to navigate multiple regulatory systems as they expand across countries, explained Luis Gustavo Penteado, Nasdaq’s Associate Vice President of Sales for Latin America. 

“With Axiom, we provide not only the solution—the reporting technology—but also the regulatory expertise embedded in the process. We provide the regulatory reports and maintain them to stay current as well,” he said. 

AxiomSL has specialists in each country who maintain contact with regulators and ensure that its reporting technology stays aligned with planned changes, allowing clients to comply with new regulations as soon as they take effect. “If the regulator changes something tomorrow, we’re going to understand those changes and deliver updates to our clients right away,” Penteado said. 

Banks in Latin America are choosing Nasdaq’s solutions not just because of its technological prowess, but also its understanding of the local market environment. “This is extremely important for our clients,” Penteado stressed. 

He explained that in the past, Latin American banks have struggled to implement more globally oriented solutions, and there was a sense that fintechs couldn’t function well in the region. 

Nasdaq has helped change that perception with its world-class services and local approach, along with dedication to helping Latin American markets prosper.  

In addition to Nubank, Nasdaq serves over 50 banking and payment services clients throughout Latin America—both digital and traditional—including Mercado Libre, C6 Bank, and Bankaool. And on top of its work with fintechs, in recent years, Nasdaq has expanded its partnerships with Latin American financial infrastructure providers.  

Signs point to more expansion for Nasdaq’s Latin America fintech business in the future. In the last 12 months, more than half of Nasdaq’s Latin American clients using its regulatory and treasury function solutions have reached out to expand their partnerships. 

“After finding success working with Nasdaq on a specific solution, clients look to see how we can support their future,” Penteado said.  

For example, partnerships with two of the biggest banks in Paraguay that began with a contained integration of Calypso have now expanded to four other business areas, Penteado noted. While both banks began only using AxiomSL for specific reporting, they have since implemented further regulatory reporting solutions. 

“Digital banking services in Latin America are experiencing a period of extraordinary development, with online marketplaces, open banking, and innovative technology combining to empower a new generation of consumers,” said Ed Probst, Nasdaq’s senior vice president of regulatory technology. “We welcome the opportunity to expand our partnership with Nubank, alongside many other clients in the region, to support their ambitious growth trajectory.”