The OIF will accelerate the adoption of technologies that facilitate access to and use of financial products and services. It will operate virtually, through the web site http://oif.gob.sv.

The Superintendent of the Financial System, Mario Menéndez, pointed out that the Office of Financial Innovation will also focus on companies and individuals whose business model has the potential to enter the financial sector, promoting financial inclusion.

The office will serve as a point of contact for natural and legal persons, to provide guidance on how they can establish their businesses and register as a company or launch their products.

Through the Financial Innovation Office, the public will be able to make inquiries and present initiatives on digital financial innovations. Likewise, financial institutions will have the opportunity to present their innovation projects.

The OIF is a joint effort between the BCR and the SSF with the support of the Inter-American Development Bank (IDB), through the Regional Public Goods Initiative FintechLAC, aims to achieve the digitization and development of the financial system in the country.

The Secretary of Trade and Investment, Miguel Kattan, stated that another of the benefits of this project is the higher levels of efficiency of the companies, supporting the emergence of new participants and business models.