9 out of 10 banks already offer mobile financial services in Latin America

Bogota, July 2014 15th-. “After two years where the number of mobile banks seemed stalled around 80%, implying that they had reached a technical ceiling and only grew in number of services, 2014 marks a new growth phase in “mobilized” banks, reaching 92% in the top 100 in the region”, according to the study authors. This and other headlines arise from the 6th edition of the report Latinia Intelligentia “Mobile Banking in Latin America” released today by the multichannel financial notifications software firm.

Unique banks with cellular services in their offer almost rise a 20%, so does the total number of services with a 24% growth, while the coefficient services per entity has already reached 2.4, with Apps, which grew by 32%, and SMS Banking, with a further rise of 25% as leading technologies. For the very first time there are so many banks with 1 only mobile financial service in its offer as 4 banks, accumulating an increase of up to 70% in the last 4 years.

Countries belonging to the major economies stand out with an impressive 57 of 60 mobile banks (8 more than 12 months ago), but the percentage growth is higher on the banks of the remaining countries (20.6% versus 16.3%). In geographic terms Central America rocks, most notably led by Costa Rica, but not least, El Salvador and Honduras, which made a quantum leap.

The study, now in its 6th edition, has been carried out on the top 100 banks starring the ranking “The 250 Largest Banks of Latin America” published by America Economia, limiting it to commercial banks and a maximum of 10 banks by country of major economies and at least 3 in the minors, so being able to have the best and most wide-ranging representation of both banks and countries.

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