As blockchain technologies and cryptocurrency continue to emerge in Latin America's FinTech scene, TaskUs's cybersecurity services become even more aggressively relevant than ever before.
Mexico was the first Latin American country to have enacted a FinTech law in 2018, while Panama legislators are now moving to implement some “crypto-friendly” laws. El Salvador, meanwhile, is set to adopt Bitcoin as an official currency in their country, alongside the US Dollar. Given these recent developments in Latin America’s FinTech scene, there is also a rising need to support the industry’s technology and finance elements, according to a report published on Nearshore Americas, the authoritative media platform for Latin American and Caribbean technology services markets.
This is where TaskUs’s FinTech services and expertise come in.
“For one of our clients, a leading cryptocurrency exchange platform, we’ve provided quality client-customer and fraud prevention support, as well as transaction monitoring methods to ensure security,” says Josh Nutter, Vice President of Business Development at TaskUs, which has operations in Mexico and Colombia, and [six] other countries outside Latin America. “We address fraud payments, consumer compliance, account hold issues, missing funds, payment method issues, and login issues, among others.”
Nutter also assures that TaskUs has long been serving FinTech clients and providing cybersecurity services, hence the company already knows the right mix of leadership, innovative tooling, and refined processes that will best support the crypto ecosystem.
Latin America is generally a developing region where many people remain unbanked, although they have the basic tool that is needed in accessing cryptocurrency: the mobile phone. Not only is cryptocurrency more accessible, but it also sips fewer fees from the people. It allows a safe option for money transfer without the usually hefty transaction fees in third-party payment companies, which makes it appealing to the masses.
This is why FinTech companies, with the help of an expert partner like TaskUs, are in a great position to reach an immense market that has historically been ignored by more established financial institutions in the region.
“With our current crypto clients, we understand that agility and flexibility in staffing are key,” says Nutter. “Security is important in FinTech, and more specifically in crypto, so you need to ensure you have the right controls in place to support work-at-home or in-center solutions.”
Read more from the Nearshore Americas article: El Salvador’s Cryptocurrency Adoption Sparks Fintech Opportunity for Nearshore BPOs