The need for this policy arises, in part, from a lack of trust on the part of users in financial services, but also from demands to expand access to these services.
The president of the National Banking and Securities Commission (CNBV), Ángel Cabrera, said that this policy seeks to integrate development banks and organizations such as Infonavit.
“The policy presented today has the institutional and operational technical conditions to become an effective tool to surround the participation of the entire population in the formal financial system and contribute to the financial well-being of the country,” said Cabrera.
For her part, Victoria Rodríguez, governor of the Bank of Mexico (Banxico), said that despite efforts to increase financial inclusion in the country, challenges persist, such as the lag in access to credit for women and MSMEs.
“For the first time, a specific axis of gender equality is incorporated, recognizing that rural, indigenous and older women face different challenges,” he noted.
He also highlighted the low use of digital payments as well as the population’s distrust in using financial services.
“The causes associated with low inclusion in our country are multifactorial and require actions from various actors,” said the governor.
Regarding the distrust within the user population when contracting and using financial services, Rodríguez highlighted that the population needs access with greater ease of use and that with greater financial inclusion, monetary policy decisions can be more palpable for the population.
For her part, Lucía Buenrostro, vice president of regulatory policy at the CNBV, highlighted that problem prevention schemes with financial services products must be strengthened to strengthen trust.
