Una mirada al ecosistema fintech en Ecuador

Abstract

Technologies applied to finance are bursting into the market, giving rise to the creation of companies (Fintech) that bring with them a series of opportunities and challenges in economic, regulatory and social issues. Therefore, this article aims to deepen the knowledge regarding the Ecuadorian Fintech ecosystem, through the measurement and description of its development in the period March 2017 - June 2021, along with its comparison with Colombia. As a result, it shows an Ecuadorian Fintech ecosystem that despite its growth still remains behind Colombia, which is consolidated as one of the most important in Latin America. Consequently, Ecuador is lagging behind in terms of the number of financial technology companies, customer adoption, investment attraction and development of regulations related to the sector. Therefore, there is a need for Fintech, the government and traditional banks to work together to advance in the promotion of actions that will keep the processes of innovation, adoption and strengthening of financial technology services vigorous.