“One of the problems of financial inclusion, that although we are advancing we are still behind, is that the institutions of the sector have not managed to develop either the products or the communication to attract the population and show them that they do not need to be rich or an expert to invest and not lose heritage.
“Another issue is that people don’t have much time to invest and we have to think as responsible agents about how to help clients make decisions so they can see their money perform better,” said the economist.
Lorenza Martínez considered that at this time the entire industry would have to be focused on incorporating more people to prevent their money from losing value.
“If people do not use our financial services it is also our fault, we have to understand the population and be more accessible. People do not invest because they believe that this is for segments of the high population, they do not have enough money or because they do not know enough about investments.
“None of these reasons is enough for them not to do it, but that’s when we realize that as institutions we are not doing our job, being more accessible and showing services in an easier and more transparent way,” said the former director. Director of Payment Systems and Corporate Services of the Bank of Mexico (Banxico).
system robustness
Lorenza Martínez acknowledges that the episodes of turbulence generated by the bankruptcy of Silicon Valley Bank (SVB) and the problems of Credito Suisse could have made some bank clients uneasy; however, she points out that Mexico weathered the situation well.
The CEO of Actinver pointed out that the country learned the hard way from the financial and economic crises of the past, but that these events made her strengthen the entire system in terms of regulation and supervision, a bastion that today has Mexico in a stronger and more resistant position.
“Mexico has become a benchmark. The way in which we adopt regulatory principles has made us a benchmark for the rest of the world in terms of prudential measures,” he said.
Although 2023 is expected to be a year of great volatility, Martínez expects performance to be better considering that inflation is beginning to slow down and that monetary and fiscal policies are well managed. Finally, he points out that on the eve of the 2024 electoral environment, it is anticipated that the transition will be stable as it has been in past six-year terms.
