digital banks, Latin America

Best Consumer Digital Banks in Latin America 2025

Latin American banks are leaning on digital transformation to improve customer experience, efficiency, and accessibility.

Banco Santander exemplifies the trend by focusing on automation, efficiency, and deliver of a superior customer experience through the bank’s digital strategy. More than 90% of the Santander’s services are now available online. Adopting a cloud-first, hybrid cloud approach, Santander is also exploring AI. The bank’s mobile-first app supports various banking activities with features like push notifications, contextual help, tutorials, and a chatbot. Conversion rate optimization and A/B testing are used to improve the user journey, while regular usability testing for blind and visually impaired users ensures accessibility.

In 2024, the bank enhanced the app with self-service upgrades, card pause functionality, Apple Wallet integration, and improved investment and payment flows. Santander’s chatbot, integrated with WhatsApp, was refined for better service and reduced costs. The bank’s customer-centric approach is built on continuous innovation, feedback integration, and accessibility, supported by a scalable, cloud-based infrastructure.

Sagicor Bank Barbados launched the Caribbean’s first fully digital neobank in 2023. The cloud-based platform offers advanced features like cardless ATM transactions and AI-powered digital onboarding. Sagicor also provides Barbados’s most extensive bill payment network, embracing more than 100 billers. Its digital platform includes automatic savings, scheduled payments, and real-time bill validation. Clients can send instant payments to any bank in Barbados. New features include payments via email and mobile number (Sagicor Pay), QR code scan-to-pay, and e-bill presentment.

Bancolombia focuses on digital user experience in its online channels, designed for efficient financial interactions. Clients can quickly manage their needs online through self-service options. Tabot, a WhatsApp virtual assistant, offers personalized, contextual advice. The bank uses Google Tag Manager and Voce surveys to gather user behavior insights. App features like ratings, personalization, and dark mode improve customer experience.

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