Fintech and Financial Inclusion in Latin America and the Caribbean

Author/Editor:

Dmitry Gershenson ; Frederic Lambert ; Luis Herrera ; Grey Ramos ; Marina V Rousset ; Jose Torres

Publication Date:

August 20, 2021

Electronic Access:

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Disclaimer: IMF Working Papers describe research in progress by the author(s) and are published to elicit comments and to encourage debate. The views expressed in IMF Working Papers are those of the author(s) and do not necessarily represent the views of the IMF, its Executive Board, or IMF management.

Summary:

Despite some improvement since 2011, Latin America and the Caribbean continue to lag behind other regions in terms of financial inclusion. There is no clear evidence that fintech developments have supported greater financial inclusion in LAC, contrary to what has been observed elsewhere in the world. Case studies by national policy experts suggest that barriers to entry in the financial sector, along with a constraining regulatory environment, may have hindered a faster adoption of fintech. However, fintech development seems to have accelerated in the wake of the COVID-19 pandemic and with the support of recent policy initiatives.

Series:

Working Paper No. 2021/221

Subject:

Frequency:

regular

English

Publication Date:

August 20, 2021

ISBN/ISSN:

9781513592237/1018-5941

Stock No:

WPIEA2021221

Pages:

77

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