You can see the rules and regulations in other jurisdictions.
A legislative agenda has been developed by Mexican regulators focused on financial inclusion and the growth of financial services users. Due to this, financial service providers may perform fully digitised onboarding of clients if Banxico or CNBV has reviewed and authorised the onboarding process. In the past, the CNBV has imposed significant sanctions for fully digitising client onboarding without prior approval.1
For financial institutions, including ITFs, regulations provide different levels of requirements that are commensurate with the customer's risk level and transaction activity. Customers who are judged to have low-risk profiles can often undergo remote onboarding with minimal information and documentation requested. If higher risks are identified, the customer may partly onboard pending further review; however, no operations will be allowed on the platform until the full onboarding process is completed.1
The rules for financial entities have also been updated to allow customers to complete transactions entirely through digital outlets (including loan origination) in addition to a fully digitized onboarding experience.1
Artificial intelligence in financial products
