Technology & Financial Services
The finance technology firms are spreading fast all-over Latin America. Under 40% of adults in Colombia, Mexico, and Peru have formal bank accounts. However, in one of the most chronically underbanked parts of the world, improvements in financial technology have opened the doors for widespread financial inclusion throughout the Latin America. More and more people are accessing mobile payments, credit systems, and P2P lending opportunities through recent advances in local fintech, and investors are catching wind of the enormous opportunity.
The technology sector is the category of stocks relating to the research, development and/or distribution of technologically based goods and services. In the case of Colombia, most prominent within this sector are developments within the ICT sector. Colombia has become a distribution hub for outsourcing services, IT and software services regional wide, due to the availability of qualified human capital, its strategic and competitive geographic location with easy access to global markets, and its location in the middle of five time zones shared with important business centers.