Authors: Anna Gincherman, Veronica Karpoich
Partners: USAID
Year: 2023
This study examines the state of digital financial services (DFS) in the country and the conditions needed to strengthen a more inclusive and competitive digital finance ecosystem. The study responds to growing demand for insights into how DFS can support financial inclusion, economic participation, and market efficiency, particularly for underserved groups that remain outside the formal financial system.
The publication analyzes the key drivers and constraints shaping the DFS landscape in Guatemala, including regulatory frameworks, market infrastructure, provider capabilities, agent networks, and consumer trust. It also looks at the broader economic and institutional factors that influence digital adoption, such as connectivity gaps, challenges in remote and rural areas, and varying levels of digital literacy. Together, these elements provide a clear picture of where the DFS market is progressing and where barriers continue to limit scale and impact.
The findings highlight a number of opportunities for strengthening the digital finance ecosystem. These include expanding interoperable payment systems, improving data-sharing arrangements, deepening agent network coverage, and supporting innovation among financial and non-financial providers. The report also identifies areas where increased coordination between regulators, donors, private-sector actors, and ecosystem partners can accelerate adoption and improve the reach of digital financial services across the country.
Developed for USAID, this study contributes to ongoing efforts to expand digital inclusion and promote market-led approaches to financial access. ConsumerCentriX supported the research and analysis, helping to identify practical pathways for strengthening Guatemala’s DFS market and improving financial access for underserved populations.
