The Impact of Fintech on Colombian Financial Products and Services

Abstract

The purpose of this article is to review the growth of Fintech in Colombia, analyzing the determinants that have influenced the behavior of the financial market, taking into account that Fintech is the mix between technology and finance, and that it is replacing the current banking services, providing a great help to the customers of financial services, defining the term as a technological evolution, and the contribution in the development of financial technologies and the conclusion on the influence of technology and finance and its possible ways to contribute to the development of the financial sector. The conclusion on how Fintech has been influencing traditional finance, thus imposing new conditions and therefore the offer of new services by traditional banking.