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A “fintech law” is required for AlphaCredit executives in Colombia

July 29, 2020

According to AlphaCredit’s CEO for Colombia and the Andean Region, Manuel Alemán, a fintech law is required in Colombia. This has been reported in Colombia’s Fintech, with an article published on July 24th.

According to Alemán Such a law would make Colombia’s financial regulator sandbox much clearer. Show what can and cannot be done, which in turn would give more tools.

“For German, Although the Superfinancial Sandbox was a very good first step, it needs a law because it is currently the responsibility of the regulator in the way it works, but a law would make it much clearer; both what can and cannot be done, and it would give you more tools to work broader, ”the article said.

A “fintech law” is required for AlphaCredit executives in ColombiaA “fintech law” is required for AlphaCredit executives in Colombia

In this sense Alemán expressed:

“We checked the sandbox of the Superfinancial and it wasn’t clear to us how it works. So far, at AlphaCredit we haven’t done any activities that need to be regulated, but we’ve checked them to see how they work. “

“Regarding the possible issuing of a fintech law in Colombia, The AlphaCredit manager said that before a law for Colombia, it would be an important step to define how a clear sandbox works for fintech companies so that they can conduct supervised activities in a controlled setting”, Stated by Colombia Fintech.

On the other hand, the same article pointed out: “Alemán said that the national government has a clear desire for innovative things and that AlphaCredit has had talks with Innpulsa and is quite optimistic about some kind of regulation that drives the fintech sector be. “”

About AlphaCredit

AlphaCredit is a fintech company that has been present in Mexico for nine years and Colombia for five years.

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