Bancos digitais: estado de situação e perspectivas na América Latina[Digital-only banks: panorama and perspectives for Latin America]

In recent decades, the financial sector in Latin America has undergone significant transformations due to digitalization and the rise of fintechs. This study examines the impact of fintechs and digital banks on the region’s banking system, within the context of financialization and the subordinate position of Latin American economies in the global financial architecture. The central question investigated is whether neobanks and digital banks act as direct competitors or strategic partners to traditional banks. The hypothesis is that, despite their nascent stage, fintechs may eventually form conglomerates that alter the existing oligopolistic structure. The study employs a methodology combining literature review and empirical analysis of financial data, alongside an examination of regulatory approaches in 10 Latin American countries. The results indicate that pressures for regulatory liberalization and the need to attract investments are shaping sector development, while technological innovation faces the challenge of balancing financial stability and inclusion. This work contributes to understanding emerging dynamics in the financial sector and provides insights into the future potential of fintechs in the region.