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.
Personal care items, vehicle accessories, food and beverages are some of the products most demanded by consumers, who have migrated to digital platforms to make their purchases.
In the current scenario of confinement due to the health crisis in the region, consumers have disappeared from physical stores and have migrated to digital platforms to buy their products.
Between 2015 and 2016 issuance of checks in the country fell by 5%, while the use of electronic banking continues to grow.
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.
Payment transfers and basic services are the types of transaction most made by the 708 thousand users of mobile financial services recorded in the country.
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.
The innovative digital banking technology firm has clients such as Citibank, Itaú, Banco Estado de Chile, and Banco Original.
Technisys, the innovative digital banking technology firm, has secured $13 million. The capital —invested by Intel Capital, Alta Ventures, KaSZeK Ventures, Endeavor Catalyst, and Holdinvest— will allow the company to expand its business throughout new markets in LATAM and the USA.
Technisys is the omnichannel digital banking company. It offers technology solutions that allow banks to stand out through their customer experience, increase their sales and dramatically reduce their time-to-market when it comes to launching new financial services. Technisys culture lies on its innovation, its human capital talent and its vision of the future. The digital age represents an unprecedented growth opportunity for the financial service providers, and Technisys helps its customers to differentiate and capitalize it.
Organization that operates in Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua and Panama
Phone: (506) 2256 7168
It has been announced that from March Costa Rican banks will be able to allow their customers access to the Central Interconnected System of Payments.
From a press release by the Central Bank of Costa Rica:
A new service has been developed called 'Pagos al Exterior (PEX)' (Foreign Payments), which will allow individuals and legal persons resident in the country, to send and receive transfers of funds to and from accounts in a financial institution located in El Salvador, Guatemala, Honduras, Nicaragua and the Dominican Republic. The aim of the service is to provide a fast and secure technology platform for processing commercial payments and remittances in the region.
In recent years, electronic transfers have been growing at a rapid pace.
Bank managers agree that the use of electronic banking operations reduces transaction costs, being this the main reason for its growth.
Luis Lara, manager of the Banco Industrial (BI) told Prensalibre.com that the institution expects amount of electronic transactions made by the end of 2011 to exceed those of 2010 when they totaled $1,377 million.
The system will allow judges to freeze bank accounts for delinquent taxpayers, in electronic form.
The system, which streamlines the process, will be implemented initially in three courts at the capital and one in Mixco.
"Luis Arturo Archila, tax lawyer, explained that thanks to this technology the accounts of the defendants can be seized from the time the judge orders", published Elperiodico.com.gt.
Through CitiFx Pulse, Citi's corporate clients will be able to engage in real-time currency transactions via Internet.
The tools includes analysis tools, such as charts, reports and documents written by Citi's analysts, in order to assist the investor.
"With this system, the customer can trade national and foreign currencies. CitiFx Pulse takes care of all the customer's currency needs in a single screen.
Since the service was enabled in December 2008, over 30.000 wires transfers have been done.
In the short term, the GuateACH system will include transactions to all the Central American countries, as well as transfer wires in U.S. dollars.
Luis Lara, Banco Industrial CEO, told Prensalibre.com that "...he expect volume to increase to 80.000 transactions a month. These services will eventually substitute the use of checks".
Users continue to prefer traditional operations; bankers maintain that in a short time frame, this tendency will revert itself.
Sigloxxi.com publishes an article in its website: "Among the hundred of the most visited places on the internet, and in just half of the count, only three banks are placed: G&T Continental (46), Industrial (51) and Banrural (60).
The Bankers Association of Guatemala announce yesterday that the ACH system, or automatic compensation chamber, came into effect.
The system will allows clients to transfer money from one bank to another.
The service, which will be accessed via each banks' website (users must have online banking access), will initially be free of cost; however, as its use grows in the future, the banks may opt to start charging for the services based on their policies.
español
7288
