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The new Colombian tech-forward bank offers interest bearing business accounts with no transactions or maintenance fees, and a 100% digital services portfolio, says Iris CEO, banking industry veteran Lorenzo Garavito.

“The importance of BBVA’s work in digital banking across the region cannot be overstated,” wrote the publication.

Health and fitness startup Fitpal won the award for digital entrepreneur of the year. Réditos Empresariales took home the prize in the large company category.

"I see PrimeCap in three years as probably one of the, let's say, top 20 — at least — investment banking companies in Colombia," says Camilo Cordovez Amador.

The top companies will only get $15,000 USD in funding, but they will also receive mentorship during their stay in Mexico City.

Other leading partners include Deutsche Bank, Credit Suisse, Deloitte, MUFG, USAA, and Banco do Brasil

"Fintech investments are on the rise in Latin America, growing 31%, in terms of dollars, and 81%, in terms of deal count, in 2016."

Bancolombia has become the first traditional bank to join Fintech Colombia, the leading fintech association in Colombia.

Sempli sees this as the first in a series of investments that will allow the online lender "to​ ​support​ ​this​ ​segment​ ​with​ ​more​ ​than​ $​50​ ​million USD."

ePayco, RapiCredit, ESCALA Educación will compete against their regional peers for $75,000 USD in startup funding.