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Honduras

No Open Banking

A Central American nation with Financial Inclusion as a high priority.

According to Kepios, 61% of Hondurans had access to the Internet in 2023.

Initial steps towards a regulator-driven FinTech environment began in 2022. There is no news yet about Open Banking or Finance specific regulations.

According to The Global Findex Database, 38% of Honduran adults had bank accounts in 2021, leaving 62% unbanked. 

Statista ranks Honduras as the second largest market of Fintech users in Central America, with around 3.2 million digital payments users and 210,000 customers of personal financial services. 

In 2014, Honduras was undergoing serious economic and security problems, aspects that threatened the socioeconomic development of the country, so the Government of the Republic undertook a recovery plan that included macroeconomic adjustments, with the support of the International Monetary Fund (IMF), Inter-American Development Bank (IDB), the World Bank (WB) and other international agencies. Promoting financial inclusion is a high priority for the government of Honduras. The vision of the Government of Honduras included the objective of improving access to credit for the lowest-income population of the nation. 

25 Fintech operate in Honduras in the following areas:

  • the management of the business or personal finances;
  • electronic payment services (electronic wallets, electronic remittances, digital banking, payment gateways, transfers, etc.);
  • credit bureaus and credit scorers;
  • insurtech;
  • electronic signatures and digital identity;
  • crowdfunding; and
  • blockchain and crypto-assets.

Mastercard announced the launch of a new financial inclusion program in Guatemala, El Salvador, and Honduras in 2022 that will accelerate the company’s objective of including five million unbanked individuals and digitise and provide credit access to one million micro and small enterprises (MSMEs) over the course of five years in the three countries. 

Honduras ranked 112th on Wiley’s Digital Skills Gap Index 2021.