Digital transformation is gaining prominence for the financial sector in Latin America. Argentina is no exception; in the last two years, even more innovative solutions have emerged to simplify and accelerate this digitalization.

According to data from Mastercard's New Payments Index 2022, throughout 2021, 94% of consumers used at least one digital payment method such as digital wallets, QR codes, cryptocurrencies, among others.

Methods that are increasingly used and common in the daily lives of consumers. Therefore, the financial sector is paying more attention to accelerating its digitalization strategy focusing on 3 objectives: continuing to promote the use of mobile banking, applications, and financial inclusion.

In a timely manner, FinTechs are becoming leading companies in the face of this new wave of technological innovation in a sector as relevant and regulated as finance.

At least 50% of Argentine companies are associated with a Fintech company. This is according to PwC's Global Fintech Survey. This demonstrates that technology is becoming an important ally for the business sector in general.

However, beyond the conveniences and facilities for the consumer, the financial sector is paying special attention to digital transformation to ensure its Compliance and the mitigation of certain risks, cyber risks, for example. This is how the term 'RegTech' is arousing curiosity and interest.

RegTech are technological solution tools focused on the management of regulatory processes specific to the financial sector. We know that with accelerated digitalization, regulation and legality have become difficult issues to manage.

Faced with this, that solution offered by the FinTech themselves is born. It should be noted that this regulatory technology has been defined as the future of digitization for the financial sector and part of the most accessible route to comply with regulations with transparency.

RegTech seems to be the beginning of a promising and accessible future for digital transformation, as by including Compliance solutions, it offers a secure environment where information and data are not exposed to possible cyberattacks, therefore, it has also become a strategic factor for risk management.

It is clear that as market needs increase, so will technological solutions. However, it is important to highlight that RegTech is just part of the wide range of technological tools that ensure the improvement of Compliance and transparency in the organization alongside cybersecurity.

Examples of this are GRC (Governance, Risk and Compliance) software, focused on simplifying and unifying processes related to Corporate Governance, Risk management and Compliance of an organization. On the other hand, we also find Corporate Governance software, specific tools to create a secure environment for Boards, ensuring the effectiveness of the same body and the optimization of time in such management.

Es importante entender que la digitalización implica una serie de estrategias y herramientas que trabajen y simplifiquen el trabajo de todos en una organización. Por eso, es que ahora se debe prestar mayor atención en todas estas tecnologías que en conjunto, podrían significar la optimización de resultados de toda una organización y una evolución acelerada en el mercado.