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Mr. Dmitry Gershenson, Frederic Lambert, Luis Herrera, Grey Ramos, Mrs. Marina V Rousset, and Mr. Jose L. Torres
Despite some improvement since 2011, Latin America and the Caribbean continue to lag behind other regions in terms of financial inclusion. There is no clear evidence that fintech developments have supported greater financial inclusion in LAC, contrary to what has been observed elsewhere in the world. Case studies by national policy experts suggest that barriers to entry in the financial sector, along with a constraining regulatory environment, may have hindered a faster adoption of fintech. However, fintech development seems to have accelerated in the wake of the COVID-19 pandemic and with the support of recent policy initiatives.
Mr. Dmitry Gershenson, Frederic Lambert, Luis Herrera, Grey Ramos, Mrs. Marina V Rousset, and Mr. Jose L. Torres

with a mobile phone number, emerged from a private arrangement between fintech firms Minka and ACH Colombia, and has been expanding rapidly since the beginning of the COVID-19 pandemic. The Superintendency of Banks in Panama is developing a new legal framework to regulate the payment system and to facilitate the operations of fintech firms through clear licensing and payment compensation rules, while safeguarding the integrity and transparency of the system. A few measures have also been taken to increase access to credit. Several countries have modernized their