Global Trends in Digital Finance as a Driver for a New Global Approach to Corporate Governance

Abstract

The field of finance is characterized by rapid developments and a high degree of responsiveness to shifts in the external environment. The advent of the global pandemic of 2019-2020 introduced a novel reality that had not previously been encountered. The necessity to establish new modes of interaction prompted the implementation of modifications and adaptations in a relatively short period of time, with the objective of maintaining operational continuity. Consequently, although digital finance was already being encouraged, it was adopted at a more accelerated pace during the pandemic, also prompting a reevaluation of novel business management strategies. The health crisis precipitated a transformation in the manner by which work, trade, and international transactions are conducted, with borders becoming increasingly permeable. The advent of fintech, disintermediation, electronic wallets, and cryptocurrencies has led to the emergence of new digital markets that collect vast amounts of data from users of virtual services. The data in question permit the formulation of market decisions. This situation presents smart organizations with the challenge of implementing cybersecurity measures to protect the various users of cyber fraud. This paper addresses some of these global trends in finance and extends the analysis to the SICA region, which is not exempt from this global reality. However, in terms of innovation and market context, the expository context.