Fintech and regulation

Financial activity, both globally and locally, is strongly regulated given its nature of public interest.
Fintech does not constitute the entire financial system, but only a part of it. Its role intermingles and converges with banking services. Complementarity and a clear trend towards interoperability that focuses on the user will certainly be our focus in the coming years.


Thanks to the efficient use of technology by the fintech ecosystem, driven by its user-centric entrepreneurial spirit, the sector has the potential to benefit the population through more innovation and more competition. In turn, this generates operational efficiencies and inclusion for sectors of the underbanked population that have traditionally operated in cash.


Any law or regulation that intends to fall on the fintech sector must be clear about the possible benefits and drawbacks that it could bring, in light of the economic freedoms provided for in our National Constitution, the structure of the financial system and the dynamics of technological progress, that has been driving the fintech ecosystem since the pandemic to date.
In the meantime, it is desirable for the sector to continue along the path it has already started to strengthen its compliance programs, in order to anticipate and be better prepared for any transition to a new regulatory framework.