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Fintech Nuvu estimates that 45% of Latin Americans are without a bank account

September 5, 2020

In Colombia, the fintech Nuvu estimates that 45% of Latin Americans are without a bank account. This emerges from an article in La República that contains statements from Andrés Barrantes, CEO of this digital company. In this article, signed by Laura Sofía Solórzano, Barrantes spoke about the challenges and opportunities in the current situation

“”The technology has significantly expanded its place in the market during the pandemic, which industries known as fintech have benefited from and are pointing to ever greater challenges.“noted the publication.

In this context from Nuvu said covid-19 increased fintech application use by 72%. This is apparently due to the need to make payments without physical contact.

Fintech Nuvu estimates that 45% of Latin Americans are without a bank accountFintech Nuvu estimates that 45% of Latin Americans are without a bank account

Andrés Barrantes, Nuvu CEO said:

“This year it opened with a record economic downturn that was the culmination of mobile banking. Now fintech and digital banks are in the best position to create value for the consumer and the competitiveness for traditional banks is increasing. “

“”One of the ways the industry is focused is in banking. Nuvu estimates that 45% of Latin Americans are without a bank account and are becoming a target audience“Solórzano wrote.

They also explained this from Nuvu The collaboration between fintech companies within the ecosystem and the value chain could help to offer more specialized services as well as an offering for different market niches or regions.

At Fintech Nuvu, they emphasized, “It would narrow the gap between people who lack access to a large number of products and services in rural areas that would be made easier and more effective using digital currency exchange platforms.”

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