Digital Banking and Insurtech Among Fastest-Growing Fintech Segments in Latin America

Capria on

September 5, 2022

The fintech ecosystem in Latin America (LatAm) has risen quickly over the past couple of years with sustained growth observed in all segments and in the number of active fintech companies, a new report from the Inter-American Development Bank (IDB) and Finnovista shows. But across all major categories, it is digital banking, technology/IT and infrastructure, as well as insurtech that have witnessed the strongest growth.

As of the end of 2021, the LatAm and Caribbean (LAC) region was home to 2,482 fintech companies. The region’s largest economies, Brazil and Mexico, accounted for more than half of the total number of fintech companies, hosting 771 and 512 fintech ventures, respectively. These two countries, combined with the three other top fintech markets in the region, namely Colombia, Argentina and Chile, made up 81% of all LAC fintech startups.

Read the complete article on Fintech News >

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