"This is a dynamic region with a growing demand for products which genuinely reflect local requirements," says Steve Hearn, CEO of the London-based broker.
The monetary authority and watchdog CVM will be allowed to hand down much bigger fines.
SulAmérica, one of the leading players in the Brazilian insurance industry, unveiled the new product at a major banking tech event.
The decision could result in President Temer being removed from office.
BNamericas looks at some of the latest solutions announced during Latin America's main event for banking technology.