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Fintech in Latin America and the Caribbean: Stocktaking

Author

Listed:
  • Pelin Berkmen
  • Ms. Kimberly Beaton
  • Mr. Dmitry Gershenson
  • Mr. Javier Arze del Granado
  • Kotaro Ishi
  • Miss Marie S Kim
  • Emanuel Kopp
  • Mrs. Marina V Rousset

Abstract

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.

Suggested Citation

  • Pelin Berkmen & Ms. Kimberly Beaton & Mr. Dmitry Gershenson & Mr. Javier Arze del Granado & Kotaro Ishi & Miss Marie S Kim & Emanuel Kopp & Mrs. Marina V Rousset, 2019. "Fintech in Latin America and the Caribbean: Stocktaking," IMF Working Papers 2019/071, International Monetary Fund.
    • Handle: RePEc:imf:imfwpa:2019/071
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    References listed on IDEAS

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    Cited by:

    1. Sigitas Siaudinis, 2019. "Digital Currencies and Central Banking: A Sense of Déjà Vu," Bank of Lithuania Occasional Paper Series 26, Bank of Lithuania.
    2. Maria Gabriela Coloma, 2020. "Issues in Fintech Regulation: What can Peru learn from other countries?," Technium Social Sciences Journal, Technium Science, vol. 9(1), pages 678-682, July.
    3. Alexandra Horobet & Irina Mnohoghitnei & Emanuela Marinela Luminita Zlatea & Lucian Belascu, 2022. "The Interplay between Digitalization, Education and Financial Development: A European Case Study," JRFM, MDPI, vol. 15(3), pages 1-23, March.
    4. Bejar, Pablo & Ishi, Kotaro & Komatsuzaki, Takuji & Shibata, Ippei & Sin, Jasmin & Tambunlertchai, Suchanan, 2022. "Can Fintech Foster Competition in the Banking System in Latin America and the Caribbean?," Latin American Journal of Central Banking (previously Monetaria), Elsevier, vol. 3(2).
    5. Sergio Luis Náñez Alonso & Miguel Ángel Echarte Fernández & David Sanz Bas & Jarosław Kaczmarek, 2020. "Reasons Fostering or Discouraging the Implementation of Central Bank-Backed Digital Currency: A Review," Economies, MDPI, vol. 8(2), pages 1-27, May.
    6. Álvarez-Gamboa, Javier & Cabrera-Barona, Pablo & Jácome-Estrella, Hugo, 2023. "Territorial inequalities in financial inclusion: A comparative study between private banks and credit unions," Socio-Economic Planning Sciences, Elsevier, vol. 87(PA).
    7. Pierre Nguimkeu & Cedric Okou, 2021. "Leveraging digital technologies to boost productivity in the informal sector in Sub‐Saharan Africa," Review of Policy Research, Policy Studies Organization, vol. 38(6), pages 707-731, November.
    8. Batiz-Lazo, Bernardo & González-Correa, Ignacio, 2021. "Start-ups, Gender Disparities, and the Fintech Revolution in Latin America," MPRA Paper 109373, University Library of Munich, Germany.
    9. Julia Bersch & Jean François Clevy & Naseem Muhammad & Mrs. Esther Perez Ruiz & Mr. Yorbol Yakhshilikov, 2021. "Fintech Potential for Remittance Transfers: A Central America Perspective," IMF Working Papers 2021/175, International Monetary Fund.

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