Fintech
Colombia Establishes Itself as a Leader in Digital Financial Inclusion
Colombia continues to experience rapid progress in the digitalization of its financial sector, with a comprehensive focus on the implementation of technologies and accessibility. In the region, growth forecasts are positive since it is expected that, by 2025, the number of fintech users will increase to more than 300 million, according to the Statista firm.
According to the Colombia Tech Report 2023, over the past year, fintech in Colombia grew by 20%, highlighting the country’s crucial role in Latin America’s digital transformation and underscoring the importance of collaboration between the public and private sectors. to drive progress in the digital age.
Read more about the importance of digital financial inclusion and find the most important economic news from around the world with our companion app Born2Invest.
According to Colombia Fintech, 76% of the population that is active in the Colombian financial sector does so through fintech solutions
In the region, growth forecasts are positive since it is expected that, by 2025, the number of fintech users will increase to more than 300 million, according to the Statista firm. In this context, the Colombian population will have a leading role and will occupy an important percentage compared to other countries.
According to Daniel Materón, CEO of RapiCredit, a fintech dedicated to granting low-amount loans to populations underserved by the traditional financial system and those in strata 2 and 3, Colombia’s position, as a leader in the digitalization of financial services, reflects the country’s commitment with the innovation and new opportunities that the digital banking system can provide.
“We are proud to contribute to the development of a more accessible and efficient financial ecosystem for all Colombians, which increasingly covers a population that previously did not have access to banking services. This is boosting the economy and betting on the country’s financial inclusion. The adoption of technology is making it possible to offer more personalized services, mitigate risks and improve the security of transactions,” said Materón.
And, according to Colombia Fintech, 76% of the population that is active in the Colombian financial sector does so through fintech solutions, which translates into around 28 million people. In fact, there are already 346 entities that operate this type of services in the country, as stated by the same entity.
“With the growing adoption of cutting-edge technological solutions, Colombia has proven to be a pioneer in the implementation of modern financial practices, allowing the population to have access to financial services available to everyone, safer, more efficient and supported by the investment sector. ”, concluded Materón.
Colombia continues to experience rapid progress in the digitalization of its financial sector, with a comprehensive focus on the implementation of technologies and accessibility.
__
(Featured image by Random Institute via Unsplash)
DISCLAIMER: This article was written by a third party contributor and does not reflect the opinion of Born2Invest, its management, staff or its associates. Please review our disclaimer for more information.
This article may include forward-looking statements. These forward-looking statements generally are identified by the words “believe,” “project,” “estimate,” “become,” “plan,” “will,” and similar expressions. These forward-looking statements involve known and unknown risks as well as uncertainties, including those discussed in the following cautionary statements and elsewhere in this article and on this site. Although the Company may believe that its expectations are based on reasonable assumptions, the actual results that the Company may achieve may differ materially from any forward-looking statements, which reflect the opinions of the management of the Company only as of the date hereof. Additionally, please make sure to read these important disclosures.
First published in LA NOTA ECONOMICA. A third-party contributor translated and adapted the articles from the originals. In case of discrepancy, the originals will prevail.
Although we made reasonable efforts to provide accurate translations, some parts may be incorrect. Born2Invest assumes no responsibility for errors, omissions or ambiguities in the translations provided on this website. Any person or entity relying on translated content does so at their own risk. Born2Invest is not responsible for losses caused by such reliance on the accuracy or reliability of translated information. If you wish to report an error or inaccuracy in the translation, we encourage you to contact us
-
Impact Investing1 week ago
Lidl Strengthens Commitment to Climate: Net Zero Target by 2050
-
Crypto2 days ago
IOTA Teases Mysterious Announcement Amid Price Crash and Binance Risk Warning
-
Fintech2 weeks ago
‘Mastercard for Fintechs’ the Program Which Offers Support to the Most Innovative Startups
-
Cannabis6 days ago
Ukraine Reveals List of Diseases that Qualify for Medical Cannabis Treatment