26 November 2018, Bolivia, Los Yungas: A woman checks her smartphone during a break at a coca plantation in the community of Cruz Loma, Los Yungas. This region has the largest area of coca cultivation in the country. According to the United Nations Office on Drugs and Crime (UNODC), the area grew by six percent in 2017. In Bolivia, chewing coca leaves is a tradition and widespread and legal practice. Bolivia is the third largest coca producer worldwide after Peru and Colombia. Photo: Marcelo Perez del Carpio/dpa (Photo by Marcelo Perez del Carpio/picture alliance via Getty Images)
How Latin America Can Make Fintech a Priority
In order to flourish in the region, fintech will require country-specific regulatory measures and institutional capacity building. Attention must also be paid to managing new risks to financial stability, cyber-risks and data privacy. Given the potential triple dividend in terms of financial inclusion, competition and inclusion, however, it is clearly worth it.