Although Colombia has had one of the greatest advances in financial inclusion in the last year, The efforts made are still not enough for Colombia to achieve a better position in this aspect compared to other countries in the region..
In fact, according to the Credicorp Financial Inclusion Index 2025, between 2021 and 2025 the country gained 7.4 percentage points in the indicatorgoing from an index of 38 to one of 45.4, which places it seventh out of eight countries, surpassing Bolivia and below Argentina, Chile, Panama, Ecuador, Peru and Mexico.
Alejandro Pérez-Reyes, Financial Vice President of the Credicorp Group, in dialogue with Ian Bremmer, founder and president of Eurasia Group and GZERo Media
Portfolio
According to the data, in this aspect Colombia continues to be below the regional average, which stood at 48.5 points for this year.
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The results show that Colombians know seven financial products; 36% know 10 financial products or more, a figure that implied an advance of seven percentage points compared to 2021. In 2024 this figure even reached 49%.
The report emphasizes that, however, the use of financial products remains high, since 96% of Colombians have at least one savings product or insurance, for an advance of 11 percentage points compared to the first year of measurement, a figure that exceeds the regional average of 87%.
Regarding the use of financial products, the country’s financial consumers use financial products and services at least five times a month, up from three times five years ago, while 46% said they receive their income through accounts in their name, for an increase of 16 percentage points compared to the 2021 measurement.
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Likewise, the perceived quality of the financial system remained at high levels with 63.3 points in 2025, while the regional average is 61 points.
According to Luis Romero, president of the board of directors of the Credicorp Group and the Banco de Crédito del Perú (BCP), banking access is not the same as financial inclusion, nor maintaining a savings account, but rather if you have insurance, if you contribute to the pension system and can access financing to buy a home or a car.
come on! has immediate digital payments – Bre-b
come on!
Great contribution of digital wallets
Nevertheless, In recent years Colombia has taken firm steps towards greater financial inclusionand it has done so with a tool that is increasingly common in citizens’ pockets: digital wallets.
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This is ratified by the Credicorp 2025 Financial Inclusion Index, according to which 73% of Colombians already have a digital walletplacing the country as one of the leaders in the region, only being surpassed by Argentina.
But beyond having them, Colombians are actively using them. Indeed, 30% already make payments and purchases with these applications, exceeding the regional average of 22%. Additionally, they are the preferred means of making transfers, with an impressive 71% of users choosing them over mobile banking (27%) or internet banking (9%).
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This change in financial habits reflects a profound transformation. Digital wallets are not only facilitating access to the financial system, but are also promoting the formalization of income. In 2025, 46% of Colombians already receive their income in their own accounts, compared to 30% in 2021.
Confidence has also grown. Today, 61% of Colombians positively value the usefulness of digital payment methodsand the country reaches 63.4 points in perceived quality of the financial system, one of the highest in the region.
Colombia is not only adopting financial technology, but is integrating it into its daily life. Digital wallets have become a gateway to the financial system, even surpassing savings accounts and credit cards. An advance that marks the path towards a more connected, modern and inclusive economy.
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This progress is part of a general growth in financial inclusion in the country. In five years, Colombia went from 38 to 45.4 points on the index, with notable improvements in access, use and perceived quality.
For example, the proportion of people at the lowest level of inclusion fell from 50% to 33%, while the group with “achieved” financial inclusion grew from 15% to 20%.
OMAR G. AHUMADA
General Portfolio Editor
