Fintechs storm Mexico's banking sector with digital onslaught

Revolut and Nu are set to begin operations in Mexico next year, aiming to capture middle-class customers with payroll deposits. Mexico's biggest lenders, BBVA, Banco Santander, and Banorte, face pressure to modernize and cut fees. Fintechs have appealed to Mexicans who don't have access to banks or credit, now targeting underserved customers with heavy marketing and payroll account access.