chapter 01 NARROWING GAPS WITH TECHNOLOGY FinTech employers in Latin America have developed a wide variety of products and services to serve segments untouched or not properly attended to by the traditional inancial system. Thanks to the lower costs of distribution of inancial services and the increase in the forms of Internet access for the population in general, it has been possible to respond to the inancial needs of a public previously excluded or under- served by traditional inancial services, whether they are individuals or small and medium-sized enterprises (SMEs). For example, if we talk about exclusion, numbers are clear: more than half of Lat- in-Americans have no access to any type of inancial services, while Banking costs for the other half are high. With different stages of maturity, the FinTechs seek to address a diversity of market segments (see Picture 3). The predominance of alternative inancing platforms and digital payment solutions stand out, which together account for slightly more than half (50.8%) of the offer. The inancial inclusion approach is also notable: 41% of FinTech startups monitored by Finnovista through its FinTech Radar initiative and the aforementioned FinTech industry report, are seeking to serve the unbanked or under-banked consumers or SMEs, as their main clients. A TWO-WAY PATH16