Mexico City. /
With the arrival of different platforms fintech to the country and adoption by the public, Leticia Riquelme, financial specialist at the Inter-American Development Bank (IDB), indicated that these institutions have the potential to reduce digital divides.
In his participation, on the second day of activities of the Finnosummit 2024the representative of the international organization, mentioned that these entities have contributed to the financial inclusion of underserved communities in the Latin American region.
However; He added that even 20 percent of financial system users do not trust the services offered by fintech.
“There are still about 20 percent of people who do not have any trust in fintechs compared to the 6 percent who do not understand any trust in traditional banking, so there is still a gap that we have to overcome,” he commented.
“Because I permanently believe that the fintech sector is the one that is going to close these financial gaps and is super important for the development of the countries in our region,” he said.
The specialist stressed that in order for these gaps to be reduced, a key point is the user protectionhighlighting that the IDB is involved in completing these aspects.
He stressed that compliance with this item will generate confidence among people who still distrust the services provided by these financial institutions.
“The issue of user protection, the truth is that it concerns us a lot, it matters a lot to us and we have been involved from the beginning when this whole Fintech race began, because we have to protect people before anything else,” said Riquelme.
Another point that must be improved is the regulation on fintech in Mexico and the region, since technologies continue to advance rapidly, so an updated regulatory framework must be important.
“Looking at the point of view of the issue of regulation, the truth is that there are also other very specific challenges because technology is advancing super fast, business models are changing, so regulation is always going to be left behind, which is why it is It is important to put the focus there,” said the specialist.
K.L.
