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16 NOVEMBRE 2018

22:50 - Argentina

BOOM IN ARGENTINA: 61% GROWTH IN NEW FINTECH IN THE LAST YEAR

(ICE) - ROMA, 16 NOV -

The fintech world continues to grow steadily in Argentina. According to the annual report of the Inter-American Development Bank (IDB) and the Finnovista consultancy, the number of financial companies that develop based on technology in the country grew by 61% in the last year, from 72 to 116 enterprises. However, Brazil is the country that contributes the largest number of fintech ventures in Latin America, with 380, followed by Mexico, with 273; Colombia, with 148, Argentina is in fourth place, and Chile completes the top 5, with 84 projects.

At the regional level, the main business segment continues to be that of payments and remittances, which represents 24% of the identified businesses, followed by the loans segment (18%) and business finance management (15%). It also highlights a rapid growth in the areas of digital banking and, mainly, credit scoring, identity and fraud, according to the report of the multilateral credit agency.

The IDB highlights 3 fintech companies developed in Argentina: Moni, a company that manages online loans; Ripio, and PayPerTic. The last 2 are signatures to make electronic payments. The sector employs 5860 people directly and 91,226 indirectly. The average annual growth rate, meanwhile, is 110%.

(ICE BUENOS AIRES)