After one year of processing, last October 12, Chilean Congress passed the Fintech Law initiative (the “Fintech Law”).
The speed in the processing of this bill responds to the need to give legal certainty to the Fintech of companies, given their growth in recent years and their importance as a tool for strengthening the national economy. These entitites have proven to be a key element in driving the economic boom in Chile, reducing the costs of financial products, extending access to such services, allowing greater transparency and competition in the financial offer as well as using technology to provide more efficient solutions.
