Digital finance gaps identified across Latin America

A study published in the Journal of Economics, Finance and Administrative Science identifies significant disparities in digital financial inclusion across Latin America and the Caribbean. Led by Pilar Beatriz Alvarez-Franco from Universidad EAFIT, the research utilized World Bank data to analyze 15 countries in the region.

The findings indicate that digital financial tool adoption is heavily influenced by age, education, employment status, and income. Younger, more educated, and higher-earning individuals show higher rates of adoption, while women and lower-income populations face substantial barriers.

The research suggests that bridging these gaps presents both a social necessity and a commercial opportunity for fintech, banking, and insurtech companies. Specifically, countries like Brazil and Mexico, which have policies promoting digital inclusion, may experience faster growth in the sector.