Fernando Quiñónez interviewed Herbert Hernández from G&T Continental for Siglo21.com.gt on the importance of banking agents to the Guatemalan economy, which have handled transactions worth more than $700 million since their inception in 2003.
Hernández comments that, "we began with three (agents), and there were no more than three or four for a while. By the end of the first year there were 38... we now have 1,350 operating, and 1,600 fit to operate".
Source: sigloxxi.com
More on this topic
September 2008
Banks in Guatemala are expanding by installing branches in small businesses to offer financial services.
Who would have thought that a pharmacy, a hardware store, a book store, or any other business would one day offer many of the financial services that have been exclusive to banks for decades?
January 2010
The number of basic banking services offered by local, small stores increased 27.6% when compared to 2008.
Currently there are 1.915 agencies offering basic transactions like cashing small checks and paying public services.
"In Guatemala, two banks have implemented this business model: G&T Continental and Industrial (BI)", reported Prensalibre.com. "In 2010, G&T expects to grow 30% in this segment, and BI 25%".
August 2010
Three of the operations to be regulated are balance enquiries, payment of bills and transfers.
The Guatemalan Banking Regulator (SIB) hopes to have the new standards ready this year to present them to the country's monetary policy committee for approval.
SIB president, Édgar Barquín, told Prensa Libre that, "the standards seek to establish security measures that banks should implement in order to prevent electronic fraud".
August 2010
A vehicle mounted with an ATM and with customer service facilities will enable clients to carry out any banking transaction.
The vehicle will use satellite technology to enable customers to carry out the transactions online.
"The cost of each unit is approximately $143k and will be used to deliver Banco de Costa Rica (BCR) services to customers attending large events as well as provide special services to the bank's client companies and institutions with particular needs, thereby widening its commercial offering," reports La Prensa Libre.
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