Latin American financial innovation competition
In the framework of the Financial Development program and the technology-based entrepreneurship ecosystem, CAF supports the Digital Bank Latam in Colombia.
Close to 180 entrepreneurships in Latin America applied to present their developments in the Demo Day on May 26th in Bogota, framed in the event Digital Bank Latam, evidencing the importance of this financial innovation competition.
On this occasion, the jury will evaluate 30 proposals from Colombia, Chile, Argentina, Ecuador, and Portugal, following criteria such as the impact of the generation of new businesses for the banking system and on the reduction of costs and operational processes; the degree of originality of the solution; or the simplicity and ease of use and implementation, among other aspects that contribute to offer accessibility, portability, efficiency, and scalability of the financial services.
The event will include the participation of representatives from the local and foreign financial industry, as well as renowned international experts such as Yael Oppenheimer, Director of International Operations at Plug and Play; Ignacio Paz, Manager of the Innovation Laboratory at Banco Galicia; Ana Inés Echavarren, CEO of Infocorp Banking, and Mauricio Salazar, Director of the Productive and Financial Sectors North Region at CAF, Development Bank of Latin America, among others. Digital Bank consolidates a space where Fintech entrepreneurships, banks, financial services companies, and traditional suppliers of the banking system may learn and share experiences, knowledge, and challenges of the market.
For Patricio Silva, CEO of Digital Bank, "the significant interest shown by entrepreneurs and industry representatives in participating in this financial innovation contest is proof of the degree of development achieved by the Fintech entrepreneurship ecosystem in the region. We have great expectations for this version of the competition with respect to the quality of the participants, as well as for the contribution of the different speakers and representatives of the financial industry, which will address the challenges, trends, and new technologies that are being developed worldwide".
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