75% growth in fintech startups drives new regulatory sandbox in Colombia

Under the new regulatory sandbox rules, fintech ventures can formally test their technological developments in real market conditions, although with limitations in terms of audience and time. In the last five years, fintech companies have grown 75% annually in Colombia, placing third in the region after Mexico and Brazil. According to Érick Rincón, president of Colombia Fintech, “in the coming years we expect new technologies such as blockchain and big data to take hold in the Colombian fintech market, which requires differential regulation.

Source: El Espectador