The health crisis caused by COVID-19 has accelerated the digitization processes in Latin America. This trend had been progressing since before the pandemic, but the lockdowns have highlighted the need to continue working to achieve progress in financial inclusion reaching all sectors of the population, especially the most vulnerable people.
In this context, we have seen a strong push for financial inclusion through digital channels. On the one hand, millions of people have tried digital services for the first time, forced by lockdowns, while financial institutions have accelerated their development processes to launch better apps and new functionalities in a short time. Additionally, governments have encouraged virtual transactions with emergency subsidy disbursements via remote channels.
In November, iupana and SafetyPay brought together seven industry executives for an in-depth conversation about the rapidly changing financial inclusion landscape - and the challenges ahead. This report contains the key takeaways of that meeting.
Participants in the 2020 Financial Inclusion Leadership Forum were:
- Vicente Fenoll, CEO, kubo.financiero
- Rafa de la Guia, Director, Quona Capital
- Alicia Ferrer, Senior Investment Officer, IFC
- Federico Gómez Romero, Investment Officer, Accion Venture Lab
- Rodrigo Andrade, VP Personal & SME Banking, Banco Guayaquil
- Gustavo Ruiz, CEO SafetyPay
- Hamish Wood, Country Manager Superdigital
This Special Report sets out the key thematic insights that emerged from the Financial Inclusion Leadership Forum, which was held virtually on November 12.
Download this exclusive Special Report to understand:
- The role of payments digitalization in financial inclusion
- The gender gap in financial inclusion
- How credit risk scoring affects financial inclusion
- Strategies for including low-income populations into the financial system