Digital wallets gain ground in financial inclusion in Colombia

More than 40 million adults They have some type of deposit in traditional savings accounts or digital wallets in Colombia. This is highlighted by DataCrédito Experian in its most recent report on financial inclusion.

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The report investigates the current situation of credit indicators in the country and addresses the problem of credit invisibilityas well as its implications in daily life.

“This report not only highlights the differences in access to credit between different segments of the population, but also highlights the importance of strategies to reduce credit invisibility. Financial inclusion is essential for the economic and social development of the country.”says Santiago Rodríguez Raga, professor at the University of the Andes.

Among the most relevant results, the firm highlights the growing participation of digital wallets in the financial ecosystem, thus promoting access to credit products.

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Furthermore, it is highlighted that Cundinamarca, promoted by Bogotá, is the region that leads in access to credit both in number of operations and average balances, indicating greater financial inclusion in this region. Added to this is that the country’s main cities concentrate the majority of credit operations, while rural areas have a greater proportion of people with little visibility in this matter.

Regarding access to credit, a similar behavior is observed in the applications of both men and women and in terms of the number of operations. However, women tend to request smaller amounts compared to men.

When observing the data by strata, Datacrédito Experian highlights that strata 1 and 2 present the greatest challenges in terms of credit invisibility, with only 3 out of every 10 adults in stratum 1 accessing low-amount credits.

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