EN 
ES 
MOST OF THE FINTECH INDUSTRY SEE THEIR SITUATION AS “VERY GOOD”,
WITH SALES UP AND THINKING OF HIRING TALENT.
This sector of economy in quite positive about the evolution of its companies. However, regarding teh economic expectations of the country, the results are less positive: 63% belive that the country´s situation will worsen in the next 3 months and 63% maintain the same
Regarding the impact of the pandemic in the sector, the vast majority proyect that "the association between Fintech companies" and "the tradicional financial"
Monday, August 17th, 2020.- In order to learn more about the economic vision of the Fintech industry, the Depósito Central de Valores (DCV) and EY Chile conducted the second version of the Fintech Expectations Survey in which information was obtained regarding its characteristics, business expectations and its vision of the country’s economy.
In general, it is known that this sector is becoming increasingly important and contributes to the inclusion of population segments that often do not have access to the traditional systems of the financial sector. For this reason, the Depósito Central de Valores (DCV) and EY Chile decided to carry out the First Fintech Expectations Survey.
COVID-19 impact
When the Fintech companies were consulted on how they project that this industry will emerge after this pandemic, the vast majority projected that “the association between Fintech companies and the traditional financial system will increase” and that “Fintech activity will grow”; while 43% foresee that “acquisitions of Fintech companies by traditional companies will increase. Only 21% say that “many Fintech companies will disappear.”
The principal results were the following:
When asked about the current situation of their company, 48% consider it to be “very good”, with sales growth in the last twelve months in 73% of cases. Regarding the evolution of sales, 81% believe that they will grow in the next three months and 90% have the same opinion in relation to the next 12 months.
The favorable expectations are also reflected in the intention to hire talent. In the next three and twelve months: 78% plan to do it in the first case and 93% in the second.
Most of those who were surveyed (87%) are also thinking about making investments during the year and 81% have contemplated raising and/or obtaining capital from investors or financial institutions.
“Once again we see how the expectations of the leaders of Fintech companies go in the opposite direction compared to the mood in traditional companies and with what the first study carried out in December 2019 showed. It is extremely attractive to see the decoupling of this sector of the economy that, faced with uncertain scenarios, such as the current ones, sees business opportunities”, explained Javier Jara, Legal and Corporate Affairs Manager of the Depósito Central de Valores.
Along these lines, in terms of economic expectations, somewhat contradictory results appear in relation to the confidence they have in the proper functioning of their businesses, versus the behavior of the economy, as shown in the first version: 63% believe that the situation of the country will worsen in the next three months and 42% maintain the same with respect to the next 12 months.
“The results of this perception survey corroborates the vision that sees great potential for joint work between the traditional industry and the Fintech industry; although we are in times of uncertainty due to the pandemic, there is optimism about the development of Fintech companies in the future due to the work they can do with the financial industry”, explained Mauricio Martínez, Associate Partner of Technology Consulting at EY Chile.
On its characterization:
The Fintech companies surveyed are strongly concentrated in the Metropolitan Region (93%) and in the “Banking, payments and transfers” and “Financial Management” sectors, with 27% of the total in each of them, followed by “Crowdfunding & Lending” (21%).
42% of the firms surveyed have fewer than 10 employees, although 33% fluctuate between 11 and 50 employees. Regarding their sales, 25% have a turnover of less than 2,500 UF and 24% do so for over 50,000 UF per year.
Regarding their seniority, the highest range occurs in the two years of life (33%) segment, while only 9% have 10 years or more.
The survey began the second week of June and was completed in late July. It was sent to 59 Fintech companies and obtained a response rate of 56%.
Fintech full report
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