Guatemala: Fewer Checks, More Electronic Banking

Between 2015 and 2016 issuance of checks in the country fell by 5%, while the use of electronic banking continues to grow.

Tuesday, July 11, 2017

The former president of the Banking Association of Guatemala (ABG), Luis Lara Grojec, explained to S21.gt that "... electronic banking will continue to grow in the coming years, but more than services through computers, there will be an increase in the use of applications on mobile devices, such as cell phones and tablets.
 
Although the issue of checks has been reduced, it is estimated that the country lags about 7 to 10 years behind in terms of access and use of mobile banking and electronic transactions with respect to the US and some South American countries.
 



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Starting April 21, 6 nicaraguan banks will include among its services online money transfers.

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Mobile Banking Growing in Guatemala

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The December 2015 newsletter released by the Superintendency of Banks of Guatemala shows that the number of deposit accounts and credit lines continues to grow in the country, where 1,210,900 accounts affiliated mobile financial services have been recorded.

Standardization of Checks in Panama

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The Superintendency of Banks is preparing regulatory changes in order to reduce the time it takes to clear a check from three days to just one.

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Panama: Online Banking Safety

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The Banking Association and the Superintendency of Banks of Panama have developed a set of standards in order to ensure the security of online banking.

The regulator has set up a department specializing in risk technology that aims to monitor the proper implementation of existing rules governing online banking.

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