Nasdaq's AxiomSL Solution Powers Digital Banking, Boosts Presence In Latin America

Nasdaq, Inc. (NASDAQ:NDAQ) expanded its digital bank financial technology operations in Latin America.

Notably, the company agreed to supply Nubank with its AxiomSL regulatory reporting solution. Nubank is a digital bank that serves over 100 million customers across Brazil, Mexico, and Colombia.

The agreement strengthens Nasdaq’s partnership with Nubank, extending support from treasury operations to regulatory reporting in Colombia.

The company underscores the growing demand for third-party financial technology solutions in Latin America, driven by the rapid expansion of digital banking and the need for quick market entry for new products and services.

Nasdaq serves over 50 banking and payment services clients in Latin America, including a mix of digital and traditional banks, local and regional players, and tier-one global banks.

Ed Probst, Senior Vice President, Regulatory Technology at Nasdaq said, “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.”

“Nasdaq’s technology is helping to underpin the maturation of the industry, with proven regulatory solutions substantially reducing time to market and providing a competitive advantage in such a fast-paced industry.”

This month, Nasdaq unveiled a new leadership structure, including an appointment for its Financial Crime Management Technology business, to strengthen its momentum and support continued growth.

Investors can gain exposure to the stock via Listed Funds Trust Horizon Kinetics Blockchain Development ETF (NYSE:BCDF) and iShares U.S. Broker-Dealers & Securities Exchanges ETF (NYSE:IAI)

Price Action: NDAQ shares are down 0.08% at $74.23 premarket at the last check Monday.

Photo via Shutterstock

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This article Nasdaq's AxiomSL Solution Powers Digital Banking, Boosts Presence In Latin America originally appeared on Benzinga.com

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