Fintech has become an important source of financing for thousands of Argentine families who cannot access credit in traditional banking or get lines that do not meet their needs.
This trend is confirmed by the Central Bank (BCRA) which revealed that in the second half of last year the number of people who took loans from these financial technology companies and other non-banking entities in Argentina grew by 21%.
For its part, Adelantos.com conducts a survey every three months among its customers to know what their needs are. It is clear from the latest edition that:
- The main reason (51%) is to cancel debts
- The other big reasons are house arrangements (12%) and payment of services (8%)
- 30% resorted to this financial aid for the first time during 2021
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