The FinTech Association of Chile has had a number of talks with this country’s executive authorities to be included in the so-called “liquidity measures” that the government is promoting to mitigate the effects of Covid-19. This was reported by Diario Financiero on May 7th.
As explained in this medium, fintech companies should be able to participate in the financing of small and medium-sized enterprises (SMEs).
“The FinTechs, represented by their managing director, Ángel Sierra, met with Corfo (Production Promotion Corporation) last week to present a series of suggestions that were reflected in a document. The idea, the text says, should be that use existing financial market structures to more flexibly meet the needs of SMEs and take advantage of the speed at which non-bank financial institutions and FinTech can reach a larger number of companies, ”the article said.
Then they added: “The idea of the guild is to occupy a structure in which institutional investors, with an 80% state guarantee, provide resources for mutual funds, which in turn provide liquidity to FinTechs to finance the companies that request it . “
The Vice President of the FinTech Association of Chile, Gonzalo Kirberg, spoke in this context and said:
“The most important thing is to reach as many SMEs as quickly as possible, at the best possible cost. FinTechs play a big role. We can quickly reach a large number of SMEs across the country as we are technology platforms. The government is fully aware of the importance of including FinTechs in the programs they carry out through Corfo for non-bank financial institutions. “
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