Porfirio Sanchez Galindo is an entrepreneur in the fintech industry. He grew up in Mexico City and studied math and economics at Stanford University. Upon graduation, he returned to Mexico and became a public official. He was an executive in the media industry before turning his attention to Mexico’s burgeoning fintech sector.
He recently said fintech is doing very well in Mexico as the government supports the industry. It provides opportunities for neglected populations who have been locked out of the traditional financial system. Porfirio Sanchez Galindo said advances in AI have been used to help people manage their money, transfer it and invest.
— Porfirio Sanchez Galindo (@PSanchezGalindo) May 18, 2020
Porfirio Sanchez Galindo sees several trends in the fintech sector. Among these is traditional banks partnering with fintech startups so they can offer better lending options to their customers. Customers can also view fraudulent transactions, pay bills, track their spending and more.
Automation is another trend in traditional banking. Porfirio Sanchez Galindo said automation frees up bank employees to do things that AI can’t do. This makes the banks more efficient and better able to meet the needs of their customers. He doesn’t believe this will lead to lost jobs, but different duties for employees and more
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