Ray Ruga, co-founder and CEO of Fintech Americas in Miami: “Colombia’s fintech sector is experiencing a thriving state of growth and innovation. For some time now, the country has seen a significant rise in fintechs that have emerged to address the financial needs of the population. The sector has become a key player in the digital transformation of the country’s financial system. As one of the largest countries in the region, Colombia holds great promise for fintech companies like Nubank and others. First, the country boasts high mobile phone penetration and Internet access, creating a solid foundation for the adoption of digital financial services. Additionally, the Colombian population has shown an increasing acceptance and trust in online financial transactions, paving the way for the expansion of fintech solutions. The Colombian government has also played a crucial role in fostering the growth of the fintech sector by implementing favorable regulatory policies. The Financial Superintendence of Colombia has established a clear and flexible regulatory framework that allows…”