Latin America showed the largest growth in the number of people having bank accounts between 2017 and 2021, according to the study Global Findex 2021, conducted by the World Bank. However, opportunities for a more widespread use of digital payments persist. After all, 150 million adults having bank accounts made payments solely in cash at commercial establishments, including over 50 million on them in Brazil and 16 million in Colombia.
To comment on this scenario and, mainly, the performance croatian email list of fintechs in the context of Financial inclusion in Latin America, we spoke with Bruno Diniz, specialist in innovation in the financial market, co-founder of Spiralem, South America Director at FDATA (Financial Data & Technology Association), professor at Fundação Dom Cabral and MBA at USP and author of the book “The Fintech Phenomenon”.
Entrevista com Bruno Diniz sobre Inclusão Financeira na América Latina
The role fintechs play in financial inclusion is a common topic in the industry today. But how can we effectively contextualize that role?
Fintechs have had a critical role in the entire process for driving advances in the financial industry, not only in Brazil but also across Latin America and other regions.
Considering the reality in Brazil, alternatives were limited when it came to managing one’ financial life 10 years ago. And those have grown since the regulator paved the way for fintechs. That process is also ongoing in different countries in Latin America, which are working on their own regulatory foundation to accommodate new business models.
We’ve started having new industry actors, which are able to better understand specific types of audiences that traditional banks often don’t see. Possibilities are now available for different groups to access financial services. So without a doubt, the fintech phenomenon we’ve seen in the past few years has revolutionized the way financial services are delivered and accessed by people in general.