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Latin Amercia: financial inclusion cycle 2020

Distribution of the adult population before and during the COVID-19 pandemic in Latin America in 2020, by financial inclusion stage

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Release date

October 2020



Survey time period

between June and August 2020

Special properties

the study focuses on Brazil, Mexico, Argentina and Colombia. It consisted of an intensive review of data made available by governments and financial institutions, as well as in-depth interviews with 18 financial service providers, including the most relevant traditional banks and neobanks/fintechs

Supplementary notes

The source establishes an approach to financial inclusion, which categorizes consumers according to six pre-defined stages within the financial inclusion cycle:
1. Cash-only consumers: people who do not use financial services.
2. Cash preferrer: people with access to at least one financial product but who uses it rarely.
3. Willing to try: People with a financial account who make small deposits.
4. Cash displacer: People with a financial account who use their basic features, such as transfers, purchases, and bill payments.
5. True believer: People with a financial account who use more advanced features like personal loans, insurances, investments, etc.
6. Master: people with frequen use of advanced banking products.

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Statistics on "Coronavirus: impact on consumption in Latin America"

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