Argentina Fintech Chamber Asked to Improve Credit Information to Reduce Late Payments
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The Argentine Fintech Chamber set up an X-ray of the credit sector in Argentina, at a time when there is a strong debate over high default. It should be noted that while banks account for 81.1% of total credit ($67.2 billion) and account for 63.3% of the irregular amount ($8.5 trillion), Fintech accounts for 11.7% of credit ($9.7 trillion) and [...] The entry Las fintech exceeds 10 million debtors. 20% is in arrears was first published in AgendA…
The fintech lending market has grown from fewer than half a million users before the pandemic to over 10 million borrowers, with 3.8 million people lacking access to traditional bank credit. Simultaneously, 2.41 million of these borrowers are in arrears, within a system where 20.8 million individuals hold at least one formal loan and 5.8 million are more than 90 days in arrears. Private credit represents 13% of GDP, while fintech companies accou…
The Argentine Fintech Chamber, which brings together virtual wallets and banks, affirmed that the increasing late payment in loans requires "shared solutions" and demanded to improve the information available to prevent financing being granted to people who are already heavily indebted. The institution stressed that credit is an indispensable tool for development, but warned that Argentina has maintained a structural problem of access to finance…
The Argentine Fintech Chamber came out to position itself in the middle of the debate on the indebtedness of Argentine families. In a statement, the entity that groups together virtual wallets and digital banks recognized that late payment is a problem, but maintained that the solution “requires shared answers” and not only target the fintech sector. Among its claims, it asked to improve the available credit information, reduce the tax burden on…
Buenos Aires, 20 August (NA) -- The Argentine Fintech Chamber, which brings together virtual wallets and banks, said Thursday that the response to credit default "requires shared solutions" and called for "improving available credit information" to avoid giving money to those already indebted. The institution considered credit as "an indispensable tool for development," but that in Argentina there is a "structural problem of access to finance fo…
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