In Chile, several financial sector players have highlighted the role fintech companies play as strategic allies in job creation, banking, business opportunities and the relationship with banking. This was reported by El Economista (America version) on August 21, as it was a conclusion from the webcast “Fintech, Banking and Chile Today: Working Together in Action?” Was organized by the consulting and auditing company EY and FinteChile.
In the above webcast Guillermo Tagle, President of Creditcorp Capital; Manola Sánchez, director of BCI; Soledad Ovando, Deputy Public Affairs Manager at BancoEstado; Ángel Sierra, President of FinteChile; and Ariel Koch, EY Financial Industry Consulting Partner.
“”The BancoEstado representative spoke about the need for a regulation that takes into account industry best practices and is in line with our reality“You stated in the article in El Economista. In your opinion, regulations that have a sandpit with the participation of financial institutions should serve as a model for Chile to be able to experiment there in a space regulated and monitored by an authority.” Our financial market needs competition and today we generate a very good level of fintech (technology and development) that is internationally recognized, “he said.
The director of BCI stated that legislation should prevent talent from fleeing overseas. “The entrepreneur will go to a place where it is easier for him to start a business and since Chile has no timely regulation (…) he will go to a country that makes it easier for him (England) , Mexico etc) and the flight of the talent can be something that plays against us when we think about economic reactivation and the creation of a fintech ecosystem, a modular and proportional regime is needed that takes into account the terms and conditions that make it It makes it easier and, at the same time, attracts talent from other latitudes, “he said.
On the other hand, The Fintech Association stated that due to announcements of regulations in the industry, there is greater interest from investors and fintech in the market. In this context, Ángel Sierra said: “There are more than 45 companies that have expressed an interest in locating in Chile and many venture capital funds have started inquiring about the sector. Today our country has the opportunity to gain regulatory experience in others Countries to see. ” Spread and use them to generate one of the best fintech ecosystems regionally and globally. “
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