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A financial technological innovations international congress just launched

Authorities of the Inter-American Development Bank, private entities and the Economic Cabinet today launched the Technological Innovation Congress for Financial Services (Fintech).

The event is organized by the IDB, has the sponsorship of the Central Bank of Honduras, Banco Atlántida, the Honduran Association of Banking Institutions (Ahiba), the National Commission of Banks and Insurance (Cnbs), as well as some companies and foundations of the sector private.

The representative of Banco Atlántida, José Luis Moncada, indicated that this initiative by the IDB reaffirms the interest of this institution for the economic and social development of the country.

He adds that it will be the beginning of a route that leads to Honduras and the financial sector scalar in an orderly, gradual and certified to the timely digital service and according to the demand that the market sends.

Banco Atlántida is the only private bank sponsoring this event due to its strength in digital banking and digital financial services.

The event will involve more than 350 people and international panelists to explore the benefits of Fintech, its impact on the economy and its future trends.

The term “Fintech” derives from the words “Finance Technology” and is used to refer to companies that offer financial products and services, making use of information and communication technologies, such as Internet sites, social networks, and mobile applications.

In Latin America and the Caribbean, the country that leads the enterprises is Brazil with 380, that is, 33 percent. Bolivia, Panama, Paraguay, and Honduras together with Nicaragua represent 3 percent, according to the report recently published by the IDB and Finnovista.

At least 1,166 Fintech ventures have registered in the Latin American region, reflecting a growth of 66 percent.

Upon taking the floor, Moncada said that digitization has substantially changed the consumption habits of citizens and is creating new business channels.

Fintech are companies that are characterized by being companies with an important technological component, seeking new solutions within the financial sector through technology, apps or big data.

Also published on Medium.

Published inFintech

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