The head of the Ministry of Finance and Public Credit (SHCP), Edgar Amador, expressed the importance of financial entities continuing to strengthen their services and security measures to protect the population from fraud and potential losses. Amador also highlighted the need to adapt financial education to current changes, ensuring it is complemented by digital education, especially for those less familiar with new technologies and financial products.
According to data from the National Survey on Financial Inclusion (ENIF), around 29.5% of Mexicans do not receive the necessary information to trust banks and financial institutions in general. Furthermore, 45.2% believe these entities do not meet their economic needs, while 46.7% feel their complaints are not adequately addressed or are unsure whether they will receive a solution.
The ENIF also revealed that 39% of Mexicans do not trust the safety of their money in the hands of financial entities, and 41% think their personal data is not protected by these institutions. These figures reflect that approximately 36.6 million Mexicans doubt the security of their funds in the financial system, while 38.4 million believe their personal data is not protected and 43.9 million feel their complaints are not resolved adequately.
During the presentation of the results of the ENIF 2021-2024, an increase in financial inclusion in Mexico was highlighted, with a rise in the population that owns at least one financial product, going from 67.8% to 76.5%. It was noted that women's access to financial products increased from 61.9% to 72.8%, while men's grew from 74.3% to 80.9%.
Regarding the most common types of savings, it was shown that the majority of the population uses payroll or pension accounts, followed by savings accounts and accounts to receive government support, among others. It was also indicated that cash payments remain predominant, although the use of physical cards and electronic transfers is on the rise.
In light of the distrust of Mexicans in banks, Edgar Amador called on financial entities to improve the security of their operations and reflect on the causes of this trust crisis. He emphasized the importance of protecting the population against possible fraud and scams, aiming to guarantee the safety of citizens' and their families' resources.
