Global FinTech Guide
Country Name
FinTechs belonging to this category provide identification services, which are required for most banking services.


Attitude of the country towards identification services

Almost all Start-ups are incorporating identification services to their registration process to verify the user’s identity. This is a procedure incorporated by FinTech companies such as crypto currency exchanges, P2P lending platforms, which require users to provide pictures of their personal IDs as well as identification procedures which include face recognition through the use of biometric technology.

Legal affairs

Obligations and requirements to provide identification services

There are no specific regulations issued in Argentina which stipulate the obligation to obtain a special license to provide identification services. However, regarding KYC/compliance purposes, companies must comply with adequate security measures to avoid unauthorised access to user’s personal data as established by Data Protection Law 25,326 and special regulations issued by the Agencia de Acceso a la Información Pública (public authority in charge of enforcing Data Protection Law 25,326).

Additional comments regarding the legal situation for identification services or what FinTech’s must be aware of in this business area

Companies providing identification services should also be aware of fulfilling obligations that may be applicable regarding regulations issued by the UIF on prevention of money laundering and financing of terrorism.

Economic conditions

Market size for identification services and biggest companies in this business area

There are no statistics available in Argentina on the size of the market of identification services. Notwithstanding this, it is expected that the market of identification services continues growing exponentially as the commerce of goods and services globally continues its trend of constant digitalisation. In this sense, cybersecurity and data protection matters are becoming sensible areas at which companies and regulators are looking after more carefully over the last years; and, therefore, identity verification services will continue playing an important role in these areas.

Additional comments regarding the economic situation for identification services or what FinTech’s must be aware of in this business area




© 2022, Zang, Bergel & Viñes Abogados. All rights reserved by Zang, Bergel & Viñes Abogados as author and the owner of the copyright in this chapter. Zang, Bergel & Viñes Abogados has granted to Multilaw non-exclusive worldwide license to use and include this chapter in this guide and to sublicense Lexis Nexis, a division of RELX Inc. and its affiliates certain rights to use and distribute this guide.

The information in this guide provides a general overview at the time of publication and is not intended to be a comprehensive review of all legal developments nor should it be taken as opinion or legal advice on the matters covered. It is for general information purposes only and readers should take legal advice from a Multilaw member firm.


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