Published and draft legislation - Colombia

Investment by financial institutions in fintech companies

Decree 2443, 2018 - Treasury and Public Lending Ministry

 

Financial institutions worldwide are undergoing a process of transforming their operating practices through the use of new technologies, to offer their products and services in an innovative manner, promote financial inclusion and offer services to populations and territories that have traditionally not had access to the financial sector.

In response to this, Colombia's Treasury and Public Lending Ministry has recently issued Decree 2443/2018 making it possible for credit institutions, financial services companies and private stock companies to invest in fintech companies.

This enables financial institutions in Colombia to own stocks or participations in companies, whether domestic or international, whose sole purpose is to develop or apply innovations and technologies relating to developing the purpose of the financial firms investing in them. The investees will be known as "FinTech” firms.