The provision and use of digital financial services in Latin America and the Caribbean (LAC) has advanced notably in recent years.

In most countries, levels of traditional banking sector penetration are rising; coupled with sharp increases in investment in their digital platforms by banks and rising smartphone use, more people in the region are embracing DFS. However, one of the greatest challenges to promote DFS in the LAC region in the coming years is the need to overcome weak public perceptions of the benefits of digital finance.