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FINPYME Forum Makes a Forceful Call for Banking Innovation

FINPYME Forum Makes a Forceful Call for Banking Innovation

The small and medium-sized enterprises (SMEs) of Latin America and the Caribbean have made a loud call for banking innovation this week as they continue to face barriers to accessing financing. The panels at FINPYME Forum revealed the harsh reality SMEs face when they seek loans from the financial sector and how financial technology (FinTech) companies and the new models of the banking industry can help meet this need. “We are seeing a technology revolution that promises to transform the industry. But banks and FinTech companies can work together, each offering what the other lacks. In many cases, FinTech companies don’t compete with banks but rather complement them,” said Carl Muñana, the general manager of the Inter-American Investment Corporation (IIC).

 

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