It is common among entrepreneurs to say that days are like roller coasters. But last week brought even higher and lower fintech entrepreneurs, digital companies that operate in the financial market. The reasons for concerns were two: 1) After; and 2) those that extend to fintechs the same treatment given to banks, requiring greater transparency and information supply.
For Ricardo Toledo, director of Acate’s Fintech Vertical Business Vertical, Santa Catarina Technology Association, situations like these – the investigation involving fintechs – endanger the reputation of serious companies and raise doubts in entrepreneurs and investors. “Our mission, as an entity, is also supporting associates and society to talk about controlled risk, conduct the discussion about regulation and give security to the ecosystem,” says Toledo, in an interview during the Startup Summitevent that took place in Florianópolis, Santa Catarina.
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Regarding the new recipe rules, Toledo evaluates that the question now is how to keep steps in innovation as fintechs adapt to new standards. “An innovative environment comes with risks. On the one hand, it is important for society to evolve, but, on the other, it allows the creation of experts in finding the gaps,” says Toledo. For Toledo, “it was time for fintechs to be inserted in the same environment and regulation of banks.”
According to Revenue, the new rules were already provided for in the Brazilian Payment System Law, the tax authorities had already published a normative instruction with the same goal last year, valid from January 2025. However, the measure, which seeks, precisely, the combat of financial crimes, was temporarily revoked after being disinformed. “Fintechs need regulation. At the same time, regulators have an important mission to promote environments that give everyone security,” he says.
According to Toledo’s analysis, laws and regulations serve to brake business, yes, but this is not necessarily bad “what prevents you or gives you security from 120 kilometers per hour is the same thing: regulation. It is confidence in the airbag test system, for example. Controlling systemic risks is critical and that’s what will make good business accelerate,” he says. “After all, Brazil is an exponent in fintechs, nationwide. We are reference in innovation in the sector with Open Finance and Pix. Our sector still has a lot to accelerate,” he says.
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About 120 fintechs are connected to ACATE, generating business at national and worldwide level. “Santa Catarina is one of Brazil’s fintech centers, with several exponents, such as Asas, and major national players. With this, we have a very connected agenda with regulators, and we participate in the major discussions about innovation in the sector,” he says.
