In Colombia, they estimate that advances in regulations for the fintech ecosystem still have much to regulate. This was highlighted on the Dinero.com portal in an article published on August 6th.
After this post, Small steps have been taken to address the challenges that will arise after the coronavirus crisis has ended. However, this industry will play an important role in the economic recovery.
“”In Colombia, unlike other industries, the fintech sector has made advances in its regulations, which are guided by the Treasury Department through the Financial Regulation Unit (URF) and Financial Superintendence. And is not for less. Colombia is currently the third largest market in Latin America for developing fintech initiatives after Mexico and Brazil. In addition, the latest Finnovista Fintech Radar study identified 200 startups in this sector of the country with an annual growth rate of 26%, “the article says.
Then they added: “Regulators have launched some initiatives that allow the development and access to innovative models. Major advances include regulations on electronic deposits, digital loans, and crowdfunding. The sandpit of the Superfinanciera should also be emphasized, which played a major role in the development of the national fintech sector. “
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