Financial Inclusion and FinTech in Suriname

This paper examines the potential role FinTech can play to support Surinames financial inclusion efforts. Financial technologyor “FinTech”describes the integration of technology into financial services to improve their use and delivery to customers. More importantly, it has the potential to meet the needs of those population segments that are not the main target of traditional financial services models. FinTech applications include mobile banking, mobile money, point-of-sale, e-commerce, and digital currencies. These solutions have contributed to financial inclusion, strengthening financial development, economic growth, poverty reduction, and socioeconomic development. We find that Suriname is making progress in promoting the development and use of FinTech. Still, there is room for further improvement, especially in fostering an enabling environment to harness FinTech opportunities, strengthening broader financial sector policies, addressing potential risks, promoting international collaboration, and addressing critical country-specific challenges.

Bibliographic Details

Main Author:	Inter-American Development Bank
Other Authors:	Shreshta Chotelal
Language:	English
Published:	Inter-American Development Bank
Subjects:	Fintech, Financial Service, Financial Sector, Small Business, Economy, Pandemic, G01 - Financial Crises, G21 - Banks • Depository Institutions • Micro Finance Institutions • Mortgages H6 - National Budget Deficit and Debt O1 - Economic Development E5 - Monetary Policy Central Banking and the Supply of Money and Credit E6 - Macroeconomic Policy Macroeconomic Aspects of Public Finance and General Outlook, Financial Access;Financial Sector Development;Suriname,
Online Access:	http://dx.doi.org/10.18235/0003988 https://publications.iadb.org/en/financial-inclusion-and-fintech-suriname
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