Strengthening the Fintech Ecosystem in Mexico
In the 2026 Economic Package, Mexico’s Ministry of Finance (SHCP) has set a focus on bolstering the Fintech ecosystem. The ministry aims to encourage new entrants into the market of Financial Technology Institutions (ITFs) to broaden competition, stimulate innovation, and ensure financial inclusion in Mexico.
Promoting New Participants and Regulatory Improvements
According to the General Criteria of Economic Policy in the 2026 Package, the SHCP will promote the entry of new participants into the ITF market and develop initiatives to further strengthen the Fintech ecosystem. This will be achieved through regulatory improvement mechanisms that foster balanced market development, enhance competition and inclusion, provide legal certainty, and encourage innovation and the use of technological tools for proper sector functioning.
Current Fintech Landscape and Future Expansion
Currently, there are 87 authorized ITFs under the 2018 Fintech Law. Of these entities, 60 are Institutions of Electronic Payment Funds (IFPE) and 27 are Institutions of Collective Financing (IFC). Three new authorizations have been granted in the past year, indicating a growing ecosystem. However, the SHCP seeks to accelerate this expansion with new regulatory incentives and increased market openness.
Other Financial Reforms in the 2026 Policy
Alongside the Fintech focus, other significant reforms are part of Mexico’s financial policy for 2026. In the banking sector, a comprehensive review of the Credit Institutions Law is planned to maintain sector stability while facilitating new bank establishments. Additionally, the performance evaluation of multiple-bank institutions will be reinforced by incorporating sustainability, inclusion, and risk management criteria.
Parallel to these banking reforms, the modernization of electronic deposit certificate issuance through interconnected and cryptographic systems aims to ensure traceability and security. In the securities market, operations of lending and borrowing will continue to be strengthened, derivative frameworks will be reviewed, and investment alternatives based on environmental, social, and governance (ESG) criteria will be promoted, with a focus on facilitating access to financing for small and medium-sized enterprises (SMEs).
Enhancing Financial System Security and Sustainability
The 2026 Economic Package also intends to reinforce the cybersecurity of the financial system, update anti-money laundering provisions, and harmonize rules with the international standards of the Group of Action on Money Laundering (GAFI). Furthermore, Mexico’s Sustainable Taxonomy will be updated to include new objectives related to sustainable cities, biodiversity, and financial inclusion.
Key Questions and Answers
- What is the main focus of Mexico’s SHCP in the 2026 Economic Package? The primary focus is on strengthening the Fintech ecosystem by encouraging new participants and regulatory improvements.
- How many Financial Technology Institutions (ITFs) are currently authorized in Mexico? There are 87 ITFs authorized under the 2018 Fintech Law.
- What other financial reforms are part of Mexico’s 2026 policy? Alongside Fintech, the banking sector will undergo a comprehensive law review, and multiple-bank institution performance evaluations will incorporate sustainability, inclusion, and risk management criteria. The securities market will see continued strengthening of lending operations, derivative framework reviews, and promotion of ESG-based investment alternatives.
- What measures are being taken to enhance financial system security and sustainability? The SHCP plans to update cybersecurity provisions, anti-money laundering rules, and harmonize them with GAFI standards. Mexico’s Sustainable Taxonomy will also be updated to include new objectives related to sustainability.
