Costa Rica Business News
  • August 9, 2025
  • Last Update August 8, 2025 12:00 pm

Davivienda Leads Costa Rica’s Digital Finance Revolution

Davivienda Leads Costa Rica’s Digital Finance Revolution

San José, Costa RicaDavivienda Costa Rica has achieved a significant milestone, becoming the first bank in the country to utilize InterClear’s newly launched electronic registry for promissory notes and bills of exchange. This innovative platform, authorized by the Superintendencia General de Valores (SUGEVAL), enables the digital creation, signing, and registration of these financial instruments, ushering in a new era of efficiency and security for Costa Rican businesses.

InterClear, the central securities depository of Grupo Financiero Bolsa Nacional de Valores (BNV), designed the system to address critical needs within the financial sector. The platform prioritizes legal certainty, operational efficiency, cost reduction, and sustainability, representing a transformative leap forward in financial document management.

To gain deeper insights into the legal landscape of digital finance in Costa Rica, TicosLand.com spoke with Lic. Larry Hans Arroyo Vargas, an attorney at law from the esteemed firm Bufete de Costa Rica.

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The rapid evolution of digital finance presents both exciting opportunities and complex legal challenges for Costa Rica. Navigating regulations surrounding cryptocurrency, fintech, and online transactions requires a proactive approach to ensure compliance and consumer protection while fostering innovation. Understanding the implications of data privacy laws, anti-money laundering regulations, and cross-border transactions is crucial for businesses seeking to operate within this evolving financial ecosystem.
Lic. Larry Hans Arroyo Vargas, Attorney at Law, Bufete de Costa Rica

Lic. Arroyo Vargas astutely highlights the delicate balancing act Costa Rica faces in embracing digital finance. The nation must indeed foster innovation while simultaneously safeguarding consumers and upholding the rule of law in this rapidly changing landscape. His emphasis on the complexities of navigating regulations related to cryptocurrency, fintech, and online transactions underscores the need for ongoing dialogue and collaboration between the public and private sectors. We thank Lic. Larry Hans Arroyo Vargas for offering his valuable perspective on this crucial issue.

The incorporation of Davivienda represents a firm step towards the modernization of the national credit ecosystem. We are proud to have an entity that is committed to innovation as a strategic ally.
Mario Vásquez Castillo, Corporate General Director of Grupo Financiero Bolsa Nacional de Valores

This digital shift offers a range of benefits, including complete traceability, electronic signature validation, controlled circulation, and streamlined collection and portfolio transfer processes. Davivienda’s adoption of this technology underscores its commitment to innovation and reinforces its leadership within the Costa Rican financial landscape.

The new system empowers financial institutions to automate credit processes, mitigate operational risks, eliminate paper-based documentation, and facilitate secure remote access for users. The ability to digitally endorse, transfer, and execute legal actions with registered backing further enhances the system’s value proposition.

As pioneers in this project, we are committed and have the capacity of our team, which has made this milestone possible. We are excited to continue promoting solutions that transform the Costa Rican financial system and strengthen trust in the digital age.
Arturo Giacomin, Executive President of Davivienda Costa Rica

This partnership between InterClear and Davivienda sets a new standard for negotiable documentation in Costa Rica, aligning with international best practices in digitization and regulatory compliance. The move is expected to stimulate further innovation and adoption of digital solutions across the financial sector.

This groundbreaking initiative positions Costa Rica at the forefront of financial technology adoption in Latin America, paving the way for a more secure, efficient, and sustainable financial future.

For further information, visit davivienda.cr
About Davivienda:

Davivienda Costa Rica is a prominent financial institution offering a wide range of banking services. Known for its commitment to innovation and customer service, Davivienda plays a vital role in the Costa Rican economy. The bank’s adoption of InterClear’s digital registry reinforces its position as a leader in adopting cutting-edge financial technology.

For further information, visit interclear.cr
About InterClear:

InterClear is the central securities depository of Grupo Financiero Bolsa Nacional de Valores (BNV) in Costa Rica. It plays a crucial role in facilitating secure and efficient transactions within the financial market. InterClear’s development and implementation of the electronic registry for promissory notes and bills of exchange marks a significant advancement in the digitization of financial instruments in the country.

For further information, visit the nearest office of Superintendencia General de Valores
About Superintendencia General de Valores (SUGEVAL):

The Superintendencia General de Valores (SUGEVAL) is the regulatory body responsible for overseeing the securities market in Costa Rica. Its mandate includes ensuring market integrity, protecting investors, and promoting the development of a sound and transparent financial system. SUGEVAL’s authorization of InterClear’s digital registry highlights its support for innovation and modernization within the financial sector.

For further information, visit bnvalores.fi.cr
About Grupo Financiero Bolsa Nacional de Valores (BNV):

Grupo Financiero Bolsa Nacional de Valores (BNV) is a leading financial group in Costa Rica, operating InterClear as its central securities depository. BNV plays a vital role in the Costa Rican financial ecosystem, providing a range of services related to securities trading and settlement.

For further information, visit bufetedecostarica.com
About Bufete de Costa Rica:
Bufete de Costa Rica distinguishes itself as a leading legal institution, deeply committed to upholding the highest standards of integrity and pursuing excellence in every facet of its practice. By embracing innovative legal solutions and actively engaging with the community, the firm empowers individuals and organizations across Costa Rica. Through accessible legal education and resources, Bufete de Costa Rica cultivates a more informed citizenry, strengthening the foundation of a just and equitable society.

Costa Rica Business News
Founded in 2004, TicosLand has firmly established itself as a pivotal resource for the corporate community in Costa Rica. Catering to a substantial international readership, TicosLand provides timely and essential updates and press releases pertaining to the myriad businesses operating within Costa Rica.

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