AFI is funding the development of a strategic plan for measuring and monitoring access to financial services in Mexico that could be applied in other countries.

The proposal for the strategy, submitted by the National Banking and Securities Commission (CNBV) in Mexico, involves analyzing existing information to establish a reliable baseline, defining necessary measures and assessing priorities against available resources. Information gaps will also be identified and filled, and a coherent analysis of trends assembled. Once the strategic plan has been developed, CNBV will collect, analyze and present information on a regular basis, preferably with annual monitoring reports.

Countries wishing to promote financial inclusion need to develop an active strategy to monitor and measure financial access over time. This requires establishing an accurate baseline and subsequent monitoring of how the situation evolves in response to policy measures or changing economic conditions. As such data and monitoring are crucial for developing effective policies for increasing financial access, other countries could also learn from the Mexican approach and apply a similar methodology.

CNBV is Mexico’s main financial regulatory agency and one of few financial authorities in the world to set up a special unit to promote financial inclusion. It proposes regulation that is conducive to developing new financial products and services, including regulations to promote the use of retailers as banking agents and a legal framework for providing mobile financial services.