Mexico enters a new era of multibank financial services

The financial services landscape is shifting toward a multibank era, where consumers manage diverse financial needs across multiple platforms rather than relying on a single institution. Customers are increasingly using traditional banks for payroll, fintechs for credit, and digital wallets for daily transactions.

In Mexico, this trend is supported by rising financial inclusion. According to the 2024 National Survey of Financial Inclusion, 76.5% of the adult population now holds at least one formal financial product, the highest level recorded since 2015. This evolution is driven by fintechs improving user experience and speed, while traditional banks provide essential infrastructure, risk management, and long-term consumer trust.