Four Years of Evidence for the Development of Financial Inclusion in Latin America
Abstract:
Financial inclusion has emerged as a fundamental driver for economic and social development in Latin
America. However, the region still faces significant challenges in this area, with large segments of the
population excluded from the formal financial system. In this context, it is essential to have diagnostic and
monitoring mechanisms that allow for an in-depth understanding of the state of financial inclusion, its
determinants and its gaps. This is where the Credicorp Financial Inclusion Index (IIF, for its acronym in
Spanish) is particularly relevant. Through direct household surveys in eight countries, it measures access,
usage and perceived quality of formal financial services, generating data that is comparable over time and
across countries. This information becomes valuable input for policymakers, financial institutions and
development organisations to design more effective and pertinent or targeted interventions to accelerate
financial inclusion in the region. By collecting information directly from citizens, the IIF captures the dimensions
of financial inclusion and its evolution over time. Its methodological robustness and continuity make it a
potentially useful tool to diagnose the state of financial inclusion in the region, identify progress and highlight
remaining challenges.
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