To encourage safe online banking practices Phone Number List , more financial institutions have stepped up their commitment not only to consumer education, but also to implementing better technology to prevent fraudulent Phone Number List activity in the first place. Additionally, many Latin American governments are using biometrics to prevent fraud as well as facilitate and secure everyday transactions. The banking Phone Number List industry is a major adopter
of biometrics as a security authentication factor Phone Number List , especially in Brazil, where biometrics has been used in ATMs for many years as a more reliable and secure authentication mechanism. Fintech companies in the region are Phone Number List also developing solutions to help better assess financial risks and reduce Phone Number List fraud. Nequi is a financial mobile banking service from Bancolombia,
the first company in Colombia to deploy mobile Phone Number List biometrics for authentication. According to research by the Inter-American Development Bank (IDB) and Finnovista, the fraud prevention and risk Phone Number List management sector is now the fifth largest in the region and growing. The road to a more financially inclusive Latin America According to reports, there are more than Phone Number List 700 fintech companies in Latin America, and more and more such enterprises are operating in the above-mentioned fields.