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Issues in Fintech Regulation: What can Peru learn from other countries?

Author

Listed:
  • Maria Gabriela Coloma

    (BCP)

Abstract

Today, Peru is witnessing an exponential growth in Fintech, both in number local start-ups being founded and international scale-ups arriving to the country. However, the lack of government regulation on the topic slows down the growth of Fintech because it depletes such industry of consumer and investor confidence. This research aims to explore what regulatory framework Peru should adopt as a response to the unstoppable growth in Fintech within the nation. The study takes a comparative approach, analyzing Fintech regulation in three different countries: Mexico, Brazil and the United Kingdom. The study finds that Peru should follow Brazil´s footsteps in enacting strong, detailed and strict regulation which will result in improving local consumer trust and in attracting foreign investment into the Peruvian Fintech industry. Plus, the study suggests that Peru should centralize Fintech regulation with one single authority, such as the Financial Conduct Authority in the case of the United Kingdom.

Suggested Citation

  • 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.
    • Handle: RePEc:tec:journl:v:9:y:2020:i:1:p:678-682
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    References listed on IDEAS

    as
    1. World Bank, 2019. "World Development Report 2019 [Rapport sur le développement dans le monde 2019]," World Bank Publications - Books, The World Bank Group, number 30435, December.
    2. Naoko Nemoto & Bihong Huang & David Storey, 2019. "Optimal Regulation of P2P Lending for Small and Medium-Sized Enterprises," Working Papers id:12964, eSocialSciences.
    3. 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.
    4. World Bank, 2020. "World Development Report 2020," World Bank Publications - Books, The World Bank Group, number 32437, December.
    5. Nemoto, Naoko & Huang, Bihong & Storey, David, 2019. "Optimal Regulation of P2P Lending for Small and Medium-Sized Enterprises," ADBI Working Papers 912, Asian Development Bank Institute.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    Fintech; Financial Regulation; Peru;
    All these keywords.

    JEL classification:

    • R00 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General - - - General
    • Z0 - Other Special Topics - - General

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