PERU Trends and Developments Contributed by: Luis Ernesto Marín and Andrés Kuan-Veng, Rubio Leguía Normand
Rubio Leguía Normand Av. Dos de Mayo 1321 San Isidro Peru Tel: +51 1 208 3000 Email: abogados@rubio.pe Web: www.rubio.pe
Regulatory Developments and the Future of Fintech in Peru Introduction The fintech industry in Peru has undergone sig - nificant transformation in recent years, driven by rapid technological advancements, regula - tory developments, and an increasing demand for digital financial services. While traditional banking institutions have continued their digi - tal evolution, fintech start-ups have gained momentum by providing innovative solutions to address gaps in financial inclusion, payments, and lending. At the same time, regulators have been refining their approach to overseeing fin - tech activities, balancing the need for innovation with financial stability and consumer protection. This article examines the key regulatory updates, market trends, and strategic developments that are shaping the Peruvian fintech ecosystem in 2025. By analysing the interplay between regu - lation, technology, and financial services, this overview provides insights for industry profes - sionals, investors, and companies looking to navigate the evolving financial landscape. Regulatory framework and market oversight Peru’s evolving fintech regulation Unlike some Latin American counterparts, such as Mexico and Chile, Peru does not yet have a dedicated fintech law. However, fintech activi -
ties are subject to regulations enforced by the Superintendencia de Banca, Seguros y AFP (SBS) and the Superintendencia del Mercado de Valores (SMV), depending on the nature of their operations. Fintech companies must obtain authorisation if they engage in financial intermediation – the collection and placement of funds – which falls under SBS supervision. Likewise, those involved in securities intermediation must adhere to regu - lations set by the SMV. Certain fintech business models, such as digital lending and cryptocur - rency exchanges, are required to register with Peru’s Unidad de Inteligencia Financiera (UIF- Perú) for compliance with anti-money laundering (AML) and counter-terrorism financing measures. Rather than regulating fintechs based on their technological nature, Peruvian law is primarily structured around the type of financial activities they perform. This principle of technological neutrality ensures that companies operating in the financial sector are regulated based on their services rather than the underlying technology, allowing a degree of flexibility in fostering inno - vation.
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