Financial Capability Building Practices in Mexico

Over the past 15 years, Mexico has made significant progress in advancing financial inclusion through key regulatory and support initiatives. New policies have contributed to increased channels for electronic payments, easier opening requirements for low-value accounts, more targeted financial consumer protection, and increased data collection to measure progress on financial inclusion.

However, despite government and private-led efforts to promote it, the financial capability landscape in Mexico has remained undeveloped. Nevertheless, some providers are aware of the importance of generating positive behavior change among financial services’ users and there are a number of innovative examples. This paper discusses selected initiatives by a variety of financial service providers and other types of institutions. The paper is divided into the following sections: 

• The Financial Inclusion and Policy Landscape in Mexico;
• Snapshot of Financial Education and Financial Capability-Building Efforts in Mexico;
• Key Players in Mexico that Work to Advance Financial Capability;
• What’s Going On, What’s Exciting, and What Remains a Challenge.