The situation regarding fintech in the Dominican Republic is not very different from the rest of Latin America. Although there is not a substantial fintech presence in the Dominican Republic yet (there are no official statistics on the matter), given the rise in the use of the internet for e-commerce, social networks and the development of electronic platforms, there is no doubt that start-ups of this nature will continue to emerge more and more. Moreover, this reality is evident considering that multiple banks in the country have incorporated new technology into their lines of business. As evidence of this imminent development, in May 2018 the Dominican Association of Fintech Companies (ADOFINTECH) was incorporated, initially with 19 member companies, with the aim of promoting the growth of fintech finance in the country.
October 17 2018
