Founder Mythos
Banking Argentina's Unbanked
Learning and knowing financial history is essential to wanting to disrupt a cartelized group of banks.
A trained economic historian, he read the past of banking to see what an incumbent system had stopped serving.
Knowing how financial systems fail is a map of where to build the one that does not.
We ask the public to believe in democracy and capitalism, and then we don't even give them a way to pay for Netflix.
More than half of Argentine adults had never held a real payment method when Uala launched in 2017.
A card in the hand is not a small convenience. It is the entry ticket to the formal economy.
Forty percent use Uala as their primary account. That means that we're bringing people into the formal economy. This is financial inclusion.
The number that mattered was not downloads. It was how many people made Uala the account they actually live on.
Primary-account status, in an inflation economy, is proof the rail earned trust.