Teresa Ripamonti, payment methods manager at Mercado Pago, shared her vision on the advancement of financial inclusion and the crucial role that fintech—companies that offer digital services for the management of personal finances—have played in this process.
In a new chapter of Al Pan Pan with Mirna SchindlerRipamonti stressed that in recent years significant progress has been made in the coverage of unbanked people, thanks in large part to the implementation of solutions such as the RUT Account and other digital accounts or view accounts.
“People who are not in the financial system, you don’t know them, so you don’t know what their ability to pay is,” Ripamonti explained, highlighting one of the main challenges that traditional financial institutions face. However, she emphasized that in recent years “we have made a lot of progress in terms of coverage” of these people, where “there is tremendous merit to the RUT Account, for example” and other similar initiatives promoted by fintech companies.
These tools, he highlighted, have allowed both small and medium-sized companies (SMEs) and individuals, “to really have access to services that allow them to improve their financial condition.”
In that sense, Ripamonti offered his perspective on the future of the fintech market, predicting continued growth in the sector. “The fintech market is going to continue to grow,” he said, although he anticipates that over time “many of these companies will consolidate” and eventually join forces to offer a broader range of services.
“Today we are in a phase of super explosive growth“He noted, although he considers that in the long term, the number of fintechs will be reduced due to this consolidation.
Ripamonti’s analysis highlights the importance of fintech in promoting financial inclusion and its potential to transform the economic landscape, especially for those who have historically been excluded from the traditional financial system.
