CLOSING REMARKS BY FERMÍN BUENO The FinTech movement in Latin America has been favored by different factors such as the higher and higher expectations of clients, who are looking for more custom- ized and digitalized experiences, growth of venture capital investment in IT in the region, reduction of entry and regulatory barriers, popularization and adoption of new technologies and the large gap of unsatisied needs the traditional inancial insti- tutions have allowed or have not even properly identiied. The new non-traditional competitors, who operate under the FinTech banner, are trying to exploit all these, starting to grab the business opportunities from banks focusing on speciic business lines, unbundling value proposals and surpassing traditional players to attack new needs and markets. The traditional inancial industry is evolving at a very rapid pace to adapt to these new market conditions, and the most advanced players are empowering teams to solve the digital transformation through new slightly conventional innovation strategies. Some inancial institutions will properly respond to the FinTech advance party in the region ‒as we have seen during our conversation. Many inancial services players established in the region are already making signiicant investments in the FinTech sector, implementing innovation initiatives and building departments of experts that allow them to face this new coopetition environment. However, the inancial institutions that do not know how to react to this market environment of high -un certainty are at risk of becoming irrelevent or falling into barely sustainable or very commoditized competitive positions. Despite the confrontation points between FinTechs and banks, both groups have a lot to win by working together on this two-way path and this collaboration may turn into a crucial competitive advantage for players from both sides rapidly moving. FinTechs may beneit from the experience, support, resources and security the banks provide; A TWO-WAY PATH79