Fintech in Latin America and the Caribbean: A Consolidated Ecosystem for Recovery

This report shows how the fintech ecosystem of Latin America and the Caribbean has evolved and grown over the last three years. The number of platforms grew at a rate of 112 percent since the last measurement in 2018, to reach 2,482 at the end of 2021. This number is related to the size of the economies and their regulatory development, among other factors. 80 percent of them are concentrated in the following countries: Brazil (31 percent), Mexico (21 percent), Colombia (11 percent), Argentina (11 percent) and Chile (7 percent). The figures show the diversity of fintech segments: payments and remittances (23 percent), loans (18 percent), business technology for financial institutions (14 percent), business finance management (10 percent), and personal (7 percent) lead in the region. The platforms address critical problems such as financial inclusion and attention to groups such as women. Investment in fintech platforms increased significantly to reach more than US$1.6 billion in 2021, showing the growth potential of the sector. For the first time, a regulatory summary is included, along with an interactive tool, for five fintech segments and two types of regulatory innovations, showing the progress in public policies across the region.

Categories: Recommended Readings
Author: ASBA