Yes. Financial institutions in Mexico (e.g., banks, financial technology institutions (such as e-wallet and crowdfunding entities) and brokerage firms) are permitted to contract with third-party service providers for the provision of cloud services. However, such arrangements are regarded and regulated as a form of "outsourcing." As a result, in some circumstances, financial institutions need to provide notice or obtain authorization from the National Banking and Securities Commission (CNBV) prior to contracting with third-party service providers for the provision of cloud services.

In general, the CNBV does not proactively encourage nor prevent private financial institutions from moving to the cloud. However, the fact that the CNBV expressly included a reference to crowdfunding and e-wallet institutions of "cloud services" contracting with third-party service providers in its General Rules Applicable to Financial Technology Institutions and General Rules Applicable to Electronic Payment Fund Institutions (which were published in 2018 and 2020 respectively) suggests that the CNBV is willing to acknowledge cloud services as a new standard.