Capital One Opening Tech Center In Mexico
“Capital One is the latest foreign bank to enter the Mexican financial sector. However, it will not compete directly with BBVA or Banco Santander, given that the initial hirings suggest a focus on generating technology products for the North American market.
Mexico’s banking regulations mean that institutions must wait considerably for oversight checks to be completed. There is currently a backlog of at least five foreign banks—Banco Plata, Banco Masari, Banco ION, Konfío and Nu Mexico—awaiting their banking license. UK unicorn Revolut only recently passed its final test.
Starting with DevOps and human resources, Capital One aims for a 1,500-employee workforce of Mexicans or permanent residents over the next three years. Specifically, the bank is looking for creative professionals in technology, financial regulations and software development. Given the high demand for such workers, the bank is determined to create a startup environment…”