The institution highlights that by optimizing the latest in financial technology, Transfer365 has provided the Central Government of El Salvador with a wealth of digital solutions to advance financial inclusion and boost overall economic growth in all sectors of the economy.

AFI also emphasized that in 2022 a total of 7.79 million interbank transfers and payments for a value of US$9,715.31 million were settled through the BCR's Transfer365 system.

He said that this represents more than half of the total domestic deposits, making Transfer365 the most used interbank payment and transfer services network in all of El Salvador, with a participation rate in 2022 of 45.96% (immediate settlement retail payments), reaching a maximum of 55.71% in the fourth quarter.

Transfer365 has benefited the population by providing more efficient and secure digital financial services, safe and easily accessible through cell phones and through various institutional online banking platforms.

In addition, the system has advanced financial inclusion by providing traditionally excluded sectors of the country's economy with affordable, readily available and indiscriminate payment services.

Translated by: A.M