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Going Digital: The Promise of Fintech in Latin America
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Overview
As COVID-19 increased reliance on digital technologies in Latin America, interest in online financial services exploded. From 2018 to 2021, the region’s fintech industry doubled in size. Even so, nearly half of Latin Americans remain unbanked, impeding their ability to save, shop and grow their businesses.
As Latin America looks beyond the pandemic, the region’s fintech sector, from start-ups to behemoths, is turning its attention to the challenges and opportunities of financial inclusion. Goals include reducing the cost of remittances — perhaps through the use of cryptocurrencies, NFTs, and other blockchain adoptions — and offering technologies that appeal to individuals who have no ties to formal financial institutions, or to those who seek more efficient and transparent methods to conduct financial transactions.
How can Latin America’s fast-growing fintech sector help solve stubborn challenges in Latin America such as income inequality? Will Latin America’s “digital divide” inhibit the future growth of this dynamic sector? What laws and regulations will support this sector’s expansion and maximize its social benefits? Please join the Wilson Center’s Latin American Program on Wednesday, May 25, 2022, from 1:00pm to 2:00pm ET, to explore the potential contributions from the region’s fintech revolution.
This event, part of our “Going Digital” series, is co-sponsored by Klaytn, the blockchain arm of Korea's Kakao Corporation, and HF.Capital.
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Latin America Program
The Wilson Center’s prestigious Latin America Program provides non-partisan expertise to a broad community of decision makers in the United States and Latin America on critical policy issues facing the Hemisphere. The Program provides insightful and actionable research for policymakers, private sector leaders, journalists, and public intellectuals in the United States and Latin America. To bridge the gap between scholarship and policy action, it fosters new inquiry, sponsors high-level public and private meetings among multiple stakeholders, and explores policy options to improve outcomes for citizens throughout the Americas. Drawing on the Wilson Center’s strength as the nation’s key non-partisan policy forum, the Program serves as a trusted source of analysis and a vital point of contact between the worlds of scholarship and action. Read more
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