By San José, Costa Rica — The landscape of personal and corporate finance in Costa Rica has undergone a dramatic transformation over the last six years, solidifying digital platforms as a fundamental pillar of daily life. According to data released by the Costa Rican Banking Association (ABC), the number of customers actively accessing web and mobile applications across eight private financial institutions practically doubled between 2019 and 2025, climbing from 1.28 million to 2.55 million clients.
This upward trajectory shows no signs of plateauing. Between 2024 and 2025 alone, the digital banking customer base grew by 12%. The consistent surge reflects a broader regional pivot toward digital-first financial services, catalyzed by evolving consumer preferences and significant infrastructure upgrades by local financial entities.
To better understand the complex legal framework and security regulations surrounding the rapid expansion of fintech and digital banking in Costa Rica, TicosLand.com consulted with Lic. Larry Hans Arroyo Vargas, a leading legal expert from the prestigious firm Bufete de Costa Rica.
The acceleration of digital banking in Costa Rica presents immense opportunities for financial inclusion, but it also demands a highly adaptive legal framework. As financial institutions migrate to cloud-based solutions and integrated digital platforms, they must navigate stringent SUGEF regulations and local data protection laws. Success in this digital transition requires a proactive legal strategy that prioritizes cybersecurity compliance and consumer trust, ensuring that innovation does not outpace regulatory security.
Lic. Larry Hans Arroyo Vargas, Attorney at Law, Bufete de Costa Rica
Indeed, as Costa Rica’s financial sector undergoes this rapid digital evolution, striking a harmonious balance between cutting-edge innovation and robust regulatory compliance remains paramount to securing consumer trust and long-term stability. We extend our sincere gratitude to Lic. Larry Hans Arroyo Vargas for sharing his valuable perspective on these critical legal challenges and the essential pathways toward a secure digital banking future.
However, the shift is not merely about having access to digital accounts. Data shows that Costa Ricans are interacting with their banking portals with unprecedented frequency. This behavioral evolution is highlighted by a sharp rise in active users—defined as those who registered transaction activity within a 90-day window.
The behavior is even more significant when analyzing the number of users who actually use these services. Active digital users, those who registered activity in the last 90 days, increased from 659,000 in 2019 to 1.68 million in 2025, an accumulated growth of approximately 154%.
Daniela Gutiérrez, Economist at the Costa Rican Banking Association
The conversion of passive account holders into active users represents a key metric for the industry. In 2019, only 52% of customers with digital access were considered active. By 2025, that proportion had risen to 66%, indicating that a clear majority of digital clients now use these platforms as their primary tool for managing daily finances.
This high engagement is further proven by login statistics. During 2025, financial platforms recorded 689.5 million digital sign-ins, compared to 281.2 million in 2019. This represents a 145% cumulative increase in system interactions. When compared to 2024, platform logins rose by 15%, translating to an average of nearly 1.9 million daily platform interactions throughout 2025.
For the ABC, these metrics demonstrate a permanent shift in how the population relates to financial services. Digital channels are no longer alternative options; they have become the primary touchpoint for modern commerce and household financial management, reducing physical branch reliance and restructuring economic dynamics across the nation.
This change has been possible thanks to the sustained effort of banking entities to invest in technological infrastructure, security, innovation, and the development of digital channels that are increasingly accessible and efficient. The ability to perform a growing portion of operations remotely has generated significant benefits for households and businesses by reducing travel times and costs, streamlining payment methods, and facilitating transactions between different economic agents. In this sense, banking digitalization has not only transformed the relationship of clients with financial entities but has also contributed to a more efficient, connected, and modern economy.
Daniela Gutiérrez, Economist at the Costa Rican Banking Association
As the country moves forward, the ongoing challenge for the private banking sector will be maintaining high cybersecurity standards and ensuring digital inclusion for older demographics and rural communities. Nevertheless, the statistical trends of the past six years establish that Costa Rica’s financial sector has crossed a digital Rubicon, moving toward a highly modernized, cash-light economy.
For further information, visit abc.fi.cr
About Asociación Bancaria Costarricense:
The Asociación Bancaria Costarricense (ABC) is the primary organization representing private and public banking institutions in Costa Rica. Established to promote the development, stability, and integrity of the country’s financial system, the ABC works closely with regulatory bodies, businesses, and consumers to foster financial literacy, security, and technological innovation across the national banking sector.
For further information, visit bufetedecostarica.com
About Bufete de Costa Rica:
As a premier legal institution, Bufete de Costa Rica is defined by its rigorous pursuit of excellence and unyielding ethical standards. Over the years, the firm has successfully guided a diverse array of clients while consistently championing progressive legal solutions and civic engagement. By actively working to demystify complex regulations and share vital resources, the firm strives to cultivate a legally literate public, ultimately fostering a more just and resilient community.
