Colombia continues to stand out in the Fintech world

Melissa López
December 6, 2020

Colombia stands out in the FinTech ecosystem by being rated with the highest rate of adoption of financial technology in Latin America, according to the 2019 Ernst & Young report.

Likewise, according to this medium, Colombia has an attractive ecosystem for the development of the fintech industry, filling banking gaps in the region and reaching an annual growth of 120%.

Also, statistics such as those from Ernst & Young have led investors to have invested more than $ 1 billion in the industry in the last three years, of which about $ 300 million was obtained during the first five months of the pandemic, according to information from Fintech Colombia highlighted by the British newspaper in the publication.

The Colombian FinTech industry advances betting on financial inclusion because 76% of the country's citizens regularly use some product, however, there are areas in which the adoption of these services or products is still lagged compared to the main Colombian cities, according to the Financial Times publication.

The pandemic accelerated the digitization of companies looking for ways to get closer to their customers without requiring them to leave home, that is where FinTech comes in as a spearhead in the economic reactivation.

And it is precisely there where they have an important opportunity: in the development of solutions and products capable of innovating and responding to the changing demands of consumers.

In the case of Costa Rica, the FinTech market is extremely young in our country even though it has been developing in various parts of the world for decades; However, startups have aroused the interest of a great diversity of national market players.

In this context, companies like Antit stand out for taking advantage of their experience to build financial development solutions: payment gateways, digital wallets, bank portals, KYC, AML, and much more.