Software Development Companies in Colombia

The disruptive and innovative mindset of Colombian software development companies has turned the IT services industry into a benchmark for Latin America. The Fintech industry is one of the most relevant segments where the country is leading within the region. Software developers and software companies are focusing on this segment due to its high growth potential. According to Appsflyer, in 2019, Colombia was the third country in the region with the highest growth within the fintech market, after Brazil and Mexico. Additionally, Colombia was the fourteenth country in the world in terms of fintech industry growth. These have been compelling reasons for multinational software development companies to invest, and open development branches in the country.

Technology in Colombia and Latin America is developing at a fast pace. According to Appsflyer, the usage and creation of companies for this industry in Latin America grew by 128% in 2019. Therefore, this region has the greatest potential for this industry in the world. The Colombian fintech industry divides into five main segments. 36% of the customers demand investment services, 26% demand digital banking services, 21% demand general financial services, 14% demand services regarding new technologies adoption and innovation, and 3% demand fintech companies that provide loans.

Colombian IT solutions companies for financial services are gaining more relevance in the global fintech market. Most financial software developers offer payment gateways, biometric security, payment platforms, financial management software, and document digitization services. National and international customers are positive about the seal of excellence that these products have.