“In the fintech world there are a couple of challenges to make progress towards the hub: the need to have a regulatory framework, as well as to think about some incentives for entrepreneurship and investment,” said Isabel Bravo, director of Inbest Chile, an organization that promotes the Chilean financial market at an international level. Establishing a fintech-specific regulatory framework would provide assurance to promote investment in Chile, according to several specialists during the Chile Fintech Forum 2021, held earlier this month. That would encourage accelerated development of fintech talent and innovation in the country, as well as the growth of the ecosystem supported by international investment. Currently, the fintech ecosystem in Chile is made up of 179 startups, 60% more than two years ago, which translates into an annual growth rate of 38%, according to Finnovista. “What Chile needs to do to become a true technological hub is to create a legal and administrative ecosystem that facilitates the development of technological platforms,” said Felipe Harboe, a Chilean senator. Similarly, the financial innovation advisor to the Ministry of Finance, Rosario Celendón, indicated that access to capital was one of the most important elements to continue driving the new disruption of Chilean financial services.

https://iupana.com/2021/05/17/chile-seeks-to-become-a-fintech-hub/?lang=en