Bibliographic update on the role of Fintech in the financial sector

Susgein Julissa Miranda Cansing, Karen Vanessa Castro Guajan, Melissa Tatiana Palacios Mite and Jenrry Fredy Chávez Arizala
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Susgein Julissa Miranda Cansing: Instituto Superior Tecnológico Adventista del Ecuador, Santo Domingo, Ecuador
Karen Vanessa Castro Guajan: Bibliographic update on the role of Fintech in the financial sector
Melissa Tatiana Palacios Mite: Instituto Superior Tecnológico Adventista del Ecuador, Santo Domingo, Ecuador
Jenrry Fredy Chávez Arizala: Instituto Superior Tecnológico Adventista del Ecuador, Santo Domingo, Ecuador

Diginomics, 2025, vol. 4, 246

Abstract: Introduction: Fintech, an acronym for Financial Technology, refers to companies offering financial services through innovative technology, such as web platforms and mobile applications, benefiting individuals and businesses. The evolution of Fintech is characterized by rapid technological development and the proliferation of startups. In Latin America, the sector is growing significantly, with key markets like Mexico and Brazil, offering new opportunities to improve financial inclusion, a fundamental aspect for economic and social development.Objective: To characterize Fintech as an innovative component in the financial sector.Methods: A literature review was conducted by consulting databases such as PubMed and ResearchGate, selecting 17 articles mainly from the last five years. Relevant information was extracted to develop this research.Discussion: Since 2014, Fintech has transformed the global financial sector, gaining regulatory and market prominence. It improves efficiency and accessibility but still depends on trust in intermediaries for electronic payments, posing risks that could be mitigated with technologies like blockchain. Fintech competes and collaborates with traditional banks using technologies such as artificial intelligence. However, its growth presents regulatory and consumer protection challenges. Generational and digital gaps also limit adoption.Conclusions: Fintech is an innovative pillar that enhances accessibility, efficiency, and financial inclusion, especially in Latin America. Regulatory, security, and generational challenges require attention to ensure safe and equitable adoption. Regulation and financial education are key to maximizing benefits and promoting economic and social development

Keywords: Fintech; Financial Technologies; Companies; Economic Sector; Latin America (search for similar items in EconPapers)
Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:cwg:digino:v:4:y:2025:id:246

DOI: 10.56294/digi2025246

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