The success story of fintechs in Latin America is entering a new phase. After five years of explosive growth, the ecosystem expanded by more than 340% in the last six years, according to the Inter-American Development Bank — a new factor can now level the playing field and drive not just more growth, but also more opportunities for startups. AI agents are transforming the way financial services startups connect with customers, they expand inclusion and reduce costs. These agents offer startups the chance to scale faster and smarter than their predecessors. See how they are redesigning the future of the fintech sector in Latin America
Enhancing customer engagement through AI agents
Os agentes de IA estão revolucionando as interações com clientes nas startups financeiras ao assumir a linha de frente do atendimento 24/7, in addition to handling more complex tasks, as financial advice. According to Finextra, financial institutions that use personalized agents see a 30% improvement in customer satisfaction and a 20% increase in conversion rates
Some of the biggest players in the region are already reaping the benefits. The MercadoLivre, for example, integrated AI and machine learning to offer personalized financial services — a movement that helped raise its market value to over 100 billion dollars, according to Reuters
Now, with the rise of cloud computing in Latin America (growing at an annual compound rate of 15%) and the decrease in processing costs, what was once a privilege of tech giants is becoming accessible to a new generation of startups. This change in the offering is enabling growing companies to build AI solutions internally or adopt the AI as a Service (AIaaS) model to optimize their operations. Recently, a large Mexican retailer used IAaaS to digitize its consumer credit approval process — reducing the waiting time from one week to just 15 to 20 minutes, what significantly improves the customer experience
Advancing financial inclusion
With the growth of the fintech ecosystem in Latin America, financial inclusion has also advanced — even if in a unequal and limited way. According to a 2023 Mastercard study, 21% of Latin Americans remain outside the formal financial system. AND, embora 79% tenham cartão de débito e/ou conta bancária, only three out of ten have access to more advanced services like credit, loans and insurance
AI agents are becoming an essential tool to accelerate progress in financial inclusion, allowing financial services startups to take a central role in this expansion. The World Economic Forum states that the use of AI agents can trigger a "technological leap through AI" effect in developing economies such as Latin America, allowing financial services to reach underserved populations directly, without relying on traditional infrastructure
The CGAP reports that AI agents contribute to inclusion by processing complex transactions and operations while keeping customer interactions simple. For example, while an AI agent can analyze diverse datasets to create personalized financial products, he can communicate all transaction steps via WhatsApp, understand customer voice commands or offer simplified decision flows — what facilitates inclusion even in rural areas with low literacy
Furthermore, by intelligently processing more diverse datasets, AI agents are also capable of calculating fairer loan costs and increasing approval rates for people with little or no financial history. A Brazilian financial services company that used AI to analyze alternative credit data for underbanked clients achieved a 25% increase in credit approvals, maintaining low default rates
Optimizing operations and reducing costs
The benefits of AI agents are not limited to customer experience and financial inclusion — startups seeking to keep their operational costs low are also finding efficiency. Galileo fintech reported that its AI agent reduced back-office calls by 70%
In Gupshup, It is observed that financial institutions that implemented AI agents experienced a 40% to 50% reduction in operational costs related to customer service and loan processing. These efficiency gains come from automation in document handling, the reduction of manual intervention in routine tasks and the optimized management of workflows
Faced with these three factors — enhanced customer engagement, expansion of inclusion and cost reduction — AI agents are becoming an essential tool for the next generation of financial services startups. Moreover: several venture capital funds in Latin America are already preparing to increase investments in startups offering credit products and artificial intelligence. This means that fintechs adopting AI agents will become even more attractive investment options
In summary, AI agents are not just the future of financial services in Latin America — they are already the smartest bet of the present
