Mexico’s new government wants fintech, banks to help financial inclusion

Thursday, August 23, 2018

By Stefanie Eschenbacher

Mexico’s next government will look to fintech companies and large corporate banks to increase financial inclusion in the country, where only one-third of adults have a bank account, senior officials said on Tuesday.

Arturo Herrera, one of two future deputy finance ministers, said in an interview that the lack of financial inclusion was one of the biggest obstacles in the new government’s fight against poverty, inequality and slow economic growth.

Leftist President-elect Andres Manuel Lopez Obrador, who is scheduled to take office on Dec. 1, has made spreading the wealth more evenly a priority of his administration.

Photo courtesy of PresidenciaRD.

Source: Reuters (link opens in a new window)

financial inclusion, fintech, mobile finance, public policy