Share of local finance app downloads in Mexico 2019-2023
The fintech sector in Mexico became more localized between 2019 and 2022 in terms of fintech app downloads. While in 2019 only 39.8 percent of all finance app downloads were downloads of locally headquartered finance apps, in 2022 the share of local finance app downloads exceeded 65 percent. In 2023, the share of local finance app downloads dropped to 59 percent.