Saturday , March 6 2021

Fintech ecosystem, the opportunity to include women in Latin America

In Latin America (AL), 52% of women over the age of 15 are paid because in the most developed regions such as Europe and Central Asia this percentage is 79%; However, there is strong evidence that the fintech of financial technologies can be a great help to promote women's financial inclusion in the region.

According to the Fintech América Latina 2018 report by the American Development Bank (IDB), as the financial engineering ecosystem in the region has created new alternatives to overcome the supply and demand barriers, especially those that are estimated to be effective in achieving these technologies. greater impact on financial inclusion.

"Custom-tailored services, streamlined digital channels, and a better understanding of the user needs that fintech companies are offering to make these alternatives potentially effective in achieving greater financial integration of women." read in a recently published study.

With hope

The study found that there is still no data available to assess the use of fintech solutions for women in the region; however, it explains that new information is available that contributes to the impact of these ecosystems on women.

According to the study, there are statistics in Paraguay that show that, in the use of digital payments, four out of every 10 users have women who do business at 10am and midday.

"(It) clearly reflects the importance of women with digital channels, which resolve travel and time constraints," explains the report.

Equally, Paraguay's ecosystem statistics show that women in the country purchase a digital device and thus pay more.

With regard to alternative funding, such as collective financing, the report says that women in the region are more involved in such mechanisms than their peers in the larger and more mature markets, such as the United States.

"In the US, only 19% of investors (or donors) were women, and in the Asia-Pacific region it was 25%, while in Latin America and the Caribbean this proportion was 35%," the report said.

The latter, which is also based on PwC reports, reports that women, in comparison with men, are more successful in making alternative financing campaigns and attaining their funding objectives.

"On average, in South America, 7% of women-led projects were successfully funded compared to 2% for men, while in Central America – 13% – for projects run by women, while for men – 6%," he explains.

They are part of the ecosystem

This study examines the role of women as founders of fintech companies, which shows that 35% of the 1,166 platforms found in Latin America have a founder above the global average of 7%.

He explains that Mexico focuses on the majority of women of Latin American women, which is 31%, followed by Colombia (14%) and Brazil (12%).

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