5 Fintechs regulated by the SBS in Peru that you should know about

[bitheerani319]

Do you know which fintechs are regulated by the SBS ? The growth of fintechs in Peru , despite the fact that it is not a country with a high number of companies of this type, has been considerable; and in the last two years a growth of 5.3% was recorded (Forbes, 2024). In another publication we have told you more about what fintechs are and we have even explained about the regulation of fintechs in Peru , we invite you to click on the links for more details on these topics.

On the other hand, although there is a growth in this type of companies, not all organizations have the required permits. There are companies that, despite being established, are not regulated by the SBS.

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What does SBS stand for? It stands for Superintendencia de Banca, Seguros y buy targeted email list Privadas de Fondos de Pensiones. And any entity that provides loans, credits, or currency exchange must be registered with this organization to begin operating in the territory.

What will you find in this text?

What is the SBS and what are its functions?

Why is it important for a fintech to be regulated by the SBS?

Which fintechs are regulated by the SBS?

Solvent

Merit

Crediface

Hi Andy

One Credit

What is the SBS and what are its functions?
The Superintendency of Banking, Insurance and AFP is a regulatory and supervisory entity of the financial system in Peru. Its main objective is to promote the stability, solidity and transparency of the system, as well as to protect the interests of users. It also implements policies and procedures to prevent financial crimes and encourages fair competition among entities in the sector.

Why is it important for a fintech to be regulated by the SBS?
It is important that fintechs are regulated by the SBS because it guarantees consumer protection and the security of their data. By being supervised, they must comply with transparency standards and good practices, which reduces the risk of fraud and ensures that information about products and services is clear.

In addition, regulation promotes the stability of the financial system, as it ensures that these companies are solvent and comply with current laws, generating trust among users and promoting a safer and more responsible financial environment.