Fintechs in Peru had a growth of 21 % in recent years
By 2014, the Latin country had 50 Fintech businesses and currently has 151
According to the Fintech 2020-2021 guide, prepared by EY Law, Fintech businesses in Peru registered an increase of 200 % since 2014, leading the Latin country to currently have 151 businesses dedicated to this trade.
As reported by Ljubica Vodanovic, leader of Financial Regulation & Fintech at EY Law, by 2014 there were 50 Fintech businesses in Peru and currently their increase is evidenced in 151 businesses under this area. 33 are in the payments sector, 33 in financing, 27 in foreign exchange, 21 in business finance management, 10 in personal finance management, 9 in crowdfunding, 7 in credit score, and 6 in insurance.
According to Vodanovic, the presence of the Fintech sector in a country stimulates the virtual financial service, through the use of technology and the support of a startup, bank or big tech.
The executive highlights that this great boost is due to the impact generated by smartphones in the region, which has led to the creation of new alternative payment methods, all of them to the benefit of meeting the needs of the population.
According to the data published in the study, only 11 % of the population in Peru knows what a fintech is and that, once the concept is explained, 54 % claim to be interested in using any of the services.
K. Villarroel
Source: elcomercio.pe
