Guatemala: Telefonica Offers Services to Banks

The Large Business Division of Telefonica yesterday presented remote banking services to domestic banks for performing financial transactions through mobile phones, using a “cloud” computing platform.

Friday, July 1, 2011

Rudy Hoffens , manager in Guatemala for the large business division of the firm, said the pilot program will be implemented in Central America and will then be extended to Latin America.

The service will be under a pay per use model, so that the financial institutions concerned will not have to make any additional investment in hardware or software, and may offer the service to all their customers, because it will be accessible from any mobile operator.

Hoffens said that this platform has the capability to perform frequent transactions such as balance inquiries, payments for services, transfers, taxes and authorization of release forms.

More on this topic

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.

Trends in Banking Services

October 2011

New technologies will be the basis for changes affecting users of financial services in the future.

Accessing your account from Facebook and financing being offered at the time you buy a product are some of the innovations that we could be seeing in the coming years in the banking industry.

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.

IFC Invests in Mobile Banking Development in LA

October 2010

IFC made a $ 3 million investment and an additional $ 2 million for YellowPepper company in Panama.

The investment will support expansion of mobile banking and access to financial services in Latin America. This is the first capital of the International Finance Corporation (IFC, in English), in a mobile banking firm in Latin America and brings the total investment in YellowPepper to over U.S $ 15 million.

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