Fintech credit: an analysis of its impact on the economy of Colombian and Uruguay

Abstract

The overall objective of this paper was to analyze Fintech credit and its impact on the Uruguayan economy, using a qualitative approach and a literature review of various scientific publications such as Scopus, ProQuest, SciELO, Redib, Dialnet, and EBSCO. The existence of a fusion between the financial industry and technology, providing greater accessibility,  improved transparency, lower costs, and  more agile processes, allows people to access and use new products, closing the existing financial inclusion gap. In both countries, as in several other ones, the financial industry and technology have merged, providing greater accessibility, improved transparency, lower costs, and more agile processes, allowing people to access and use new products. Furthermore, access will be facilitated through web3-based mechanisms, due to their interoperability and the pillars upon which detection is built, but also because they are built within the environment from which they emerge and with which they have grown. Therefore, it is important that the financial system and the information systems used include security and confidentiality standards for economic transactions, since the development of increasingly effective protocols can motivate users to conduct their operations online. These networks provide the necessary information for corporate and consumer businesses and design ecosystems, which they then accompany with the search for complementary partners who collaborate in generating a value proposition that promotes higher-quality services at lower costs and contributes to risk reduction, thus enabling business development.