IMF Working Papers

Fintech in Latin America and the Caribbean: Stocktaking

By Pelin Berkmen, Kimberly Beaton, Dmitry Gershenson, Javier Arze del Granado, Kotaro Ishi, Marie S Kim, Emanuel Kopp, Marina V Rousset

March 26, 2019

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Pelin Berkmen, Kimberly Beaton, Dmitry Gershenson, Javier Arze del Granado, Kotaro Ishi, Marie S Kim, Emanuel Kopp, and Marina V Rousset. Fintech in Latin America and the Caribbean: Stocktaking, (USA: International Monetary Fund, 2019) accessed November 21, 2024

Disclaimer: IMF Working Papers describe research in progress by the author(s) and are published to elicit comments and to encourage debate. The views expressed in IMF Working Papers are those of the author(s) and do not necessarily represent the views of the IMF, its Executive Board, or IMF management.

Summary

In Latin America and the Caribbean (LAC), financial technology has been growing rapidly and is on the agenda of many policy makers. Fintech provides opportunities to deepen financial development, competition, innovation, and inclusion in the region but also creates new and only partially understood risks to consumers and the financial system. This paper documents the evolution of fintech in LAC. In particular, the paper focuses on financial development, fintech landscape for domestic and cross border payments and alternative financing, cybersecurity, financial integrity and stability risks, regulatory responses, and considerations for central bank digital currencies.

Subject: Balance of payments, Central Bank digital currencies, Digital currencies, Fintech, Mobile banking, Remittances, Technology

Keywords: Africa, Asia and Pacific, Beneficial owner, Caribbean, Central Bank digital currencies, Central banks, Competition., Cross border payments, Cyber regulation, Cyber risk, Digital currencies, Electronic money, Financial regulation, Financial sector, Financial stability and integrity, Fintech, Fintech firm, Firms in Mexico, Global, Investment management firm, Legal tender, Market structure, Mobile banking, Monetary policy, Payment startup, Peer to Peer, Private sector, Remittances, Savings account, South Asia, Technology company, Transaction costs, Transmission mechanism, Value chain, WP

Publication Details

  • Pages:

    53

  • Volume:

    ---

  • DOI:

    ---

  • Issue:

    ---

  • Series:

    Working Paper No. 2019/071

  • Stock No:

    WPIEA2019071

  • ISBN:

    9781498303248

  • ISSN:

    1018-5941

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