Financial technology companies and Cooperative Savings and Loan Societies (socap) have the potential to expand financial inclusion in rural areas, according to the fintech System of Transfers and Payments (STP).
Through the use of technology, it is committed to the inclusion of more clients in the financial system, since the use of tools facilitates the opening of accounts, the potential of savings banks is reflected in their management of 11% of the deposit accounts of the national financial system, according to the Panorama of Financial Inclusion 2021 published by the National Banking and Securities Commission (CNBV).
“Digital means of payment are well adopted by savings banks, which serve the rural population. To migrate to this technology, they work on communication campaigns, where they explain how these digital payment methods benefit their users”, commented Jaime Márquez, director of business development and new projects at STP.
The manager added that the incorporation of technology to the services of these entities has a high penetration in users, since 72% of customers adopt digital payment methods to carry out operations.
Adoption levels stand out because last year 73% of socap accounts were opened in a rural area; In addition, they financed 4% of the credit at the national level, an amount that amounted to 2 million pesos, as reported by the CNBV.
According to Márquez, the increase in the use of digital payments must be accompanied by training, both for end users and customers. This is precisely one of the main missions of fintech companies to expose the scope of financial technology and risk prevention.
“Throughout this year and 2023, we will see a growth in the adoption of digital payment methods in savings banks and as part of this there must be constant communication and training,” added the manager.