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The Chilean Ministry of Finance is making progress in regulating fintech

The Chilean Ministry of Finance is making progress in regulating fintech companies. In addition, she will conduct a survey together with the IDB to monitor the evolution of the ecosystem. This is what Diario Financiero reported in an article signed by Vicente Vera.

According to this publication, the Treasury Department reported through a statement on new advances in creating a regulatory framework for FinTech and implementing open banking in Chile.

“The foreign minister revealed that Together with the Inter-American Development Bank (IDB), they will conduct a survey to update the existing information on the FinTech ecosystem in the country”They explained in the article.

The Chilean Ministry of Finance is making progress in regulating fintech
The Chilean Ministry of Finance is making progress in regulating fintech

“”The survey is carried out by Finnovista and it will target FinTech companies for which it will receive the assistance of the FinTech Association of Chile in its application, “they later added.

The survey is expected to provide a detailed diagnosis of the size and composition of the sector in Chile, as well as the type of segments in which they operate.

“The main objective of the survey is to identify the level of development and maturity of FinTech in Chile, the market trends and the dynamics of competition and cooperation with the traditional financial sector, as well as possible entry barriers or regulatory gaps for new players of technological innovation in the financial industry” they specified.

“In addition, the Treasury Department announced that it has become a participant in FintechLAC, a regional IDB public goods initiative that brings together financial regulators, regulators and FinTech associations from fifteen countries in the region,” they later added.

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