Note published in Finnovista
Like other Latin American countries, in Argentina the digital transformation of the financial sector has given rise to the emergence of an increasing number of Fintech companies that are developing solutions to meet needs that traditional financial institutions have not been able to cover. This is how the Fintech Radar Argentina shows 60 startups with technological proposals that are at the forefront in the provision of digital financial services.
It is noteworthy the prevalence of platforms whose business models are enabled in blockchain platforms, with different applications in different segments, both for the execution of payments, for the digital signature of contracts or the obtaining of loans.
Being a constant in other countries in the region, the Payments & Remittances segment heads the list of Fintech segments analyzed, covering 33% of the startups identified. Secondly, the Enterprise Financial Management segment was positioned with 18%, this being the highest proportion found for this segment compared to the rest of the countries analyzed so far in the Fintech Radars project. The third place is occupied by the Lending segment with 13%. The radar is complemented by another 6 segments, each with between 2 and 4 startups that seek to position themselves as pioneers in their respective areas of business: Crowdfunding, Investment Management (Wealth Management), Personal Finance Management, Insurance (Insurance), Identity Solutions, Scoring & Fraud, and finally Trading & Markets.
The growing impulse to the Argentinean Fintech ecosystem, by public and private entities, as well as a greater collaboration between startups and traditional financial entities will be two triggers that allow us to take better advantage of the opportunities offered by Fintech for the benefit of users and consumers. Today there are conditions for more and more entrepreneurs to take the lead in the digital transformation of the financial sector, but this will not be possible without the collaborative and permanent involvement of accelerators, private equity funds, development banks and regulators, coupled with recognition by the parties. of banks and insurers that are facing an imminent change in the way they provide financial products.