We analyze the factors influencing financial inclusion (FI) among vulnerable populations in Mexico, aiming to inform equitable public policy. Despite its portrayal as a tool for poverty reduction, substantial disparities persist in FI access and use, particularly in countries like Mexico. We employed a descriptive, quantitative, cross-sectional design. We analyzed data from the 2024 National Survey on Financial Inclusion (ENIF). A composite FI Index was constructed using principal component analysis (PCA) and categorized with latent class analysis (LCA). We used linear regression models to analyze the main factors associated with FI for the general population and the identified vulnerable groups: women, older adults, remittance recipients, and Indigenous language speakers. Results show significant inequalities. Around 32% of Mexican adults had low FI in 2024. Indigenous language speakers, and women exhibited high probabilities of low FI. Higher FI was positively associated with educational attainment, employment, being male, older age, household headship, union status, and receiving remittances. Conversely, speaking an Indigenous language and rural residence consistently linked to lower FI. We conclude that Mexico’s FI challenges stem from structural issues like informality, discrimination, and inadequate financial education. Current policies often prioritize financial system profitability. Effective FI demands differentiated, context-sensitive policies focusing on consumer protection, financial education, and tailored products to genuinely reduce inequality.
Pardo-Montaño et al. (Fri,) studied this question.