82.9% of users of financial services are concentrated in the department of Guatemala, equivalent to 587,366 affiliated mobile customers. The average amount of transactions completed using this system nationwide is $85. Monetary deposits are the most demanded service with 51.5%, followed by savings deposits with 26.1%, and the remaining part is credit lines.

Distribution by bank, of these types of users is outlined in an article on Elperiodico.com.gt, which states that "... Banco Industrial (BI) leads with a 65.7 per cent stake of customers affiliated to these services; followed by G & T Continental with 19.6 percent, Banrural has 12.3 percent, and the remaining 2.4 belongs to International Bank; Bantrab and Bank of Central America (BAC) ... ".

Victor Mancilla, former head of the Superintendency of Banks, said that "... these operations are further linked to corporate accounts, but with technological and cultural advances retail banking will follow along ...".

See: " Quarterly Financial Inclusion in March 2015 "

Source: elperiodico.com.gt

More on this topic

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July 2020

The current business scenario ended up breaking down several barriers, and now there are more customers who demand the online services of financial institutions, which are challenged to facilitate digital processes and in turn apply strict security standards.

In the last four months, in most Central American cities, bank clients have moved away from the bank's service points, because between the home quarantines decreed due to the spread of covid-19 and the preference to avoid attending places where large numbers of people can congregate, consumers are choosing to look for ways to carry out transactions digitally.

Growing Use of Electronic Banking

April 2018

In Costa Rica in the past seven years the number of financial transactions carried out using digital banking almost doubled, going from 64 million in 2010 to 151 million in 2017.

From a statement issued by the Costa Rican Banking Association:

April 2018. The use of different digital banking channels offered by financial entities to Costa Ricans (Internet banking, mobile banking, telephone banking) which allow them to carry out transactions without having to visit the bank's offices, has seen steady growth in recent years. The Statistical Report on the National Payment System 2017, by the Central Bank of Costa Rica (BCCR), confirms that the number of transactions went from 64.2 million in 2010 to 150.8 million in 2017.

El Salvador: Regulation of Mobile Financial Transactions

November 2013

Financial operators who allow transactions to be made using mobile phones must have support capital and put a limit on the amount of transactions.

The project in consultation with the private sector was prepared jointly by the Superintendency of the Financial System (SSF) and the Central Reserve Bank (BCR).

Standards Defined for Mobile Banking in Guatemala

July 2011

Authorities and bankers will discuss the rules that regulate cell phone banking.

Within weeks, Guatemalans will be able to perform banking transactions using only their cell phones.

If the review of regulations by the Association of Banks is fruitful, the regulations will then be sent to the Monetary Board at the Bank of Guatemala, for approval and validity.