The success story of fintechs in Latin America is entering a new phase. After five years of explosive growth, the ecosystem has expanded by more than 340% in the last six years, according to the Inter-American Development Bank—a new factor may now level the playing field and drive not only more growth but also more opportunities for startups. AI agents are transforming how financial services startups connect with customers, broaden inclusion, and reduce costs. These agents offer startups the chance to scale faster and smarter than their predecessors. See how they are reshaping the future of the fintech sector in Latin America.
Enhancing customer engagement through AI agents
AI agents are revolutionizing customer interactions at financial startups by taking the front line of 24/7 customer service, as well as handling more complex tasks such as financial advice. According to Finextra, financial institutions using personalized agents have seen a 30% improvement in customer satisfaction and a 20% increase in conversion rates.
Some of the region's biggest players are already reaping the rewards. MercadoLibre, for example, has integrated AI and machine learning to offer personalized financial services — a move that has helped raise its market value to over $100 billion, according to Reuters.
Now, with the rise of cloud computing in Latin America (growing at a compound annual rate of 15%) and falling processing costs, what was once the privilege of tech giants is becoming accessible to a new generation of startups. This shift in supply is allowing growing companies to build AI solutions in-house or adopt the AI as a Service (IAaaS) model to optimize their operations. Recently, a large Mexican retailer used IAaaS to digitize its consumer credit approval process—reducing wait times from a week to just 15-20 minutes, significantly improving the customer experience.
Advancing financial inclusion
With the growth of the fintech ecosystem in Latin America, financial inclusion has also advanced—albeit unevenly and in a limited way. According to a 2023 Mastercard study, 21% of Latin Americans remain outside the formal financial system. And, although 79% have a debit card and/or bank account, only three out of ten have access to more advanced services such as credit, loans, and insurance.
AI agents are becoming an essential tool for accelerating progress in financial inclusion, enabling 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 "technology leap through AI" effect in developing economies such as Latin America, allowing financial services to reach underserved populations directly, without relying on traditional infrastructure.
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, it can communicate all transaction steps via WhatsApp, understand customer voice commands, or offer simplified decision flows—facilitating inclusion even in rural areas with low levels of education.
Furthermore, by intelligently processing more diverse datasets, AI agents are also able to calculate fairer loan costs and increase 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 while maintaining low default rates.
Optimizing operations and reducing costs.
The benefits of AI agents aren't limited to customer experience and financial inclusion — startups looking to keep their operating costs down are also finding efficiencies. Fintech Galileo reported that its AI agent reduced back-office calls by 70%.
At Gupshup, it has been observed that financial institutions that have implemented AI agents have 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, reduced manual intervention in routine tasks, and optimized workflow management.
Given these three factors—improved customer engagement, increased inclusion, and reduced costs—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 short, AI agents are not just the future of financial services in Latin America—they are already the smartest bet of the present.
