Regulation and the digital agenda face challenges for fintech companies at the regional level in Latin America

Although there have been laws in Mexico since 2018, In the Latam region, the legal framework for operating the fintech sector needs to be strengthened. This was indicated by Colombia Fintech, in an article based on a publication by Entrepeneur México.

In this publication I quote a study called “ship in Fintech Latin America”, carried out by the Inter-American Development Bank (IDB), the “Recommends the creation of temporary test beds for regulators on which fintech companies can operate, evaluate their business models and offer their products in monitored environments, and enable startups and their supervisory authorities a smooth transition to adequate regulation and oversight.” ????.

According to the article, Countries with stricter and clearer regulations also have different potentials and greater opportunities. This would be due, among other things, to a more reliable ecosystem.

Regulation and the digital agenda face challenges for fintech companies at the regional level in Latin America
Regulation and the digital agenda face challenges for fintech companies at the regional level in Latin America

The consolidation of fintech companies allows digital companies to be deployed in other industries once they take on their role as intermediaries for other sectors to better sell their services. Not to mention the (…) advantages for users of digital access to financial services with a higher speed in paperwork.

to????We can assume that the conditions for the arrival of more investors in financial technology are ripe in Latin America. However, the development of the fintech ecosystem will largely depend on a combination of visionary companies, the creation of seed capital programs, a digital agenda and the right regulations, ”the publication concluded.

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