fbpx
  • About us
  • Advertise
  • Contact
  • Nominate
  • Client’s Voice
  • Login
  • Register
📖 Magazine
The Global Economics
  • Home
  • Banking
  • Non Banking
  • Markets
  • Infrastructure
  • Lifestyle
  • FeatureNew
  • Awards
No Result
View All Result
  • Home
  • Banking
  • Non Banking
  • Markets
  • Infrastructure
  • Lifestyle
  • FeatureNew
  • Awards
No Result
View All Result
The Global Economics
No Result
View All Result
Home Technology

How Fintech’s Surge Can Help Maximize Latin America’s Economy Amid Covid-19

The Global Economics by The Global Economics
May 25, 2020
in Technology, Trending
Reading Time: 2 mins read
0
Coronavirus prevention and social distancing in the office

Coronavirus prevention and social distancing in the office

25
SHARES
138
VIEWS
FacebookTwitterRedditWhatsAppLinkedInShare Link

With the ongoing crisis of Covid-19 crippling world economies, the situation is no different for Latin America.

Reportedly, the number of cases has surpassed the U.S. and Europe. Amid the already prevailing economic instability and financial exclusion, the growth has not climbed beyond 1% since 2014.

According to a survey only about 51% of the people hold bank accounts. Though the situation is grim, and the businesses are walking on thin ice, there is a glimpse of hope: Fintech. Fintech is a portmanteau of the terms “finance” and “technology” and refers to businesses that use technology to enhance their growth and automate their services.

There are 703 Fintech startups operating in Latin America, with more than 50% being launched in the last six years with a funding of $481 million in the second quarter of 2019. These startups which make extensive use of technologies are contributing to the growing economy in Latin America.

Countries like Nicaragua which had only about 29% of their people holding bank accounts presented a bleak situation. The Argentinian Fintech company Ualá and Brazil’s Neon give citizens a prepaid card and an app to make domestic and international payments with transfers between Ualá users being free of cost.

While there is a long way to go for these startups to sustain themselves and receive further funding to help the economy slowly climb back to stability, the conglomeration of banking, finance, and technology in Latin America is something worthy of appreciation and to look forward to in changing lives in the longer run.

The Global Economics

The Global Economics

The Global Economics Limited is a UK based financial publication and a bi-annual business magazine giving thoughful insights into the financial sectors on various industries across the world. Our highlight is the prestigious country specific Annual Global Economics awards program where the best performers in various financial sectors are identified worldwide and honoured.

Related Posts

Coinbase to expand its footprint into the European Union in 2022
Crypto & Fintech

Coinbase to expand its footprint into the European Union in 2022

by Sakshi K S
June 30, 2022
DIFC unveils the region’s first Open Finance Lab in 2022
Crypto & Fintech

DIFC unveils the region’s first Open Finance Lab in 2022

by Ritu M R
June 29, 2022
LATAM Airlines to omit single-use plastics by 2023
Ultility

LATAM Airlines to omit single-use plastics by 2023

by Ritu M R
June 28, 2022
Nike revenue strikes as Europe demand dominates China sales slump in 2022
Retail

Nike revenue strikes as Europe demand dominates China sales slump in 2022

by Ritu M R
June 28, 2022
PhysicsWallah gains a whopping USD 100 million in seed funding round
Funds

PhysicsWallah gains a whopping USD 100 million in seed funding round

by Sakshi K S
June 9, 2022
Previous
Next
Previous
Next
Previous
Next
Previous
Next
Previous
Next
Previous
Next
Previous
Next
Previous
Next
Facebook Twitter Instagram Youtube LinkedIn Soundcloud
The Global Economics

The Global Economics Limited is a UK based financial publication and a quarterly business magazine giving thoughtful insights into the financial sectors on various industries across the world. Our highlight is the prestigious country specific Annual Global Economics awards program where the best performers in various financial sectors are identified worldwide and honoured.

DMCA.com Protection Status

  • Privacy
  • Legal
  • Terms of Use
  • Client’s Voice
  • Server Status

norton verified - the global economics

Latest Posts

Oman: Jumeirah Group to open its first luxury resort in 2022

Oman: Jumeirah Group to open its first luxury resort in 2022

June 30, 2022
Coinbase to expand its footprint into the European Union in 2022

Coinbase to expand its footprint into the European Union in 2022

June 30, 2022
Central Bank of Europe ready to ‘stamp out’ surging inflation in 2022

Central Bank of Europe ready to ‘stamp out’ surging inflation in 2022

June 30, 2022
Download The Global Economics PWA to your mobile or Desktop
PWA App Download
Download The Global Economics Android App to your mobile or Desktop
Android App
Download The Global Economics IOS App to your mobile or Desktop
IOS App

All Rights Reserved © 2020 | 🇬🇧 The Global Economics, Business Finance Publication - www.theglobaleconomics.uk 🌏

No Result
View All Result
  • About us
  • Awards
  • Magazine
  • Client’s Voice
  • Exclusive Coverage
  • Nominate
  • Login
  • Sign Up

All Rights Reserved © 2020 | 🇬🇧 The Global Economics, Business Finance Publication - www.theglobaleconomics.uk 🌏

Welcome Back!

Sign In with Facebook
Sign In with Linked In
OR

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Sign Up with Facebook
Sign Up with Linked In
OR

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Receive the latest news

Subscribe To Our Weekly Newsletter

Get notified about new articles, delivered right into your email inbox.

-
00:00
00:00

Queue

Update Required Flash plugin
-
00:00
00:00
Go to mobile version