He migratory phenomenon of Venezuelans to Colombia has posed challenges in terms of integration and humanitarian responseHowever, it has also generated opportunities in various sectors and fields, including the financial sector.
According to Colombian Migrationuntil March 31, 2023, 2,448,908 people had pre-registered in the Single Registry of Venezuelan Migrants (RUMV). Of the total number of people, at least 66% were of working age, of which 53% were women and 47% men. In this context, the latest report from Banking & Economy of Asobancaria It highlights that the financial system offers a variety of products aimed at Venezuelan migrants.
(More than 200,000 migrants have crossed the Darien jungle in 2023.)
products include savings accounts with simplified processing, programmed savings accounts, electronic deposits, credits, insurance, remittances and international wire transfers.
(El Niño phenomenon: its effects and when they will be felt in Colombia).
According to the report, as of March 31, 2023, the Venezuelan migrant population in Colombia had acquired a total of 801,071 financial products, distributed among 515,880 users. This number of users represents 21% of the population pre-registered in the RUMV up to March.
(37.4% of migrants in Colombia do not have documentation).
“The preference for the use of a savings account is evident, with 61% participation compared to other products, followed by electronic deposit with 26%. There are two peaks in the acquisition of electronic deposits, the first in the second quarter of 2020, which corresponds to the start of the pandemic, which may be linked to transfers that respond to needs due to the crisis, and a second in the fourth quarter of 2022”, concludes the document.
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