In Colombia, 9 out of 10 adults have a financial product

The Financial Superintendence and Banca de las Oportunidades presented the 2021 Financial Inclusion Report, which shows the progress of the country in the indicators of access and use of financial products.

(‘Fintech’ will raise financial inclusion figures for 2021).

In 2021, 90.5% of adults had at least one financial product, a figure higher than the 81.4% in 2018.

In this way, the indicator is 5.5% above the goal set by the National Development Plan for 2022 of 85%registering a total of 33.5 million adults with at least one deposit or credit product and 1.5 million new financial consumers.

The Report also includes the number of digital products and monetary operations carried out by mobile telephony and the Internet between January and December of the immediately preceding year. For its part, Low amount deposits, among which are products such as virtual wallets, electronic deposits and simplified processing accounts, had the highest penetration in 2021, reaching 23.8 million active products in the country, of which 67 .2% belong to women and 32.8% to men.

(How is the gender gap in financial inclusion in the country?).

“The incursion of technology gave a new dynamic to the transactions that businesses and electronic commerce carry out every day, given the security and efficiency that digital channels represent for the financial consumer. Making inquiries, payments or transfers digitally has simplified the use of financial products and services, which also contributes to generating well-being in people; hence the importance of moving towards the consolidation of financial inclusion with young people, the rural and migrant population through savings, payment systems and, of course, credit”said the Financial Superintendent, Jorge Castaño Gutiérrez.

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