Chile sees surge in digital banking adoption driven by Gen Z

A recent study by Stefanini reveals a significant shift in Chile’s financial landscape, with 43% of all new bank accounts opened in 2025. This surge is primarily driven by digital banks and digital wallets, which are increasingly favored by Generation Z (ages 18–29) over traditional banking institutions.

While this digital adoption reflects growing confidence in financial innovation, it brings notable risks. Data from Chiledeudas and Maat indicates that youth indebtedness multiplies 33.1 times among those aged 22 to 29. Experts emphasize that the ease of digital access must be balanced with financial education to prevent over-indebtedness.

Parallel to this digital shift, there is a growing trend of financial inclusion for younger demographics. Financial institutions are increasingly offering accounts to adolescents as young as 12 or 14, often under parental supervision. Academics from the University of Chile suggest that early access to banking tools allows teenagers to practice resource management and decision-making, which can improve long-term financial performance.