The Economist report, “Global Microscope 2019: The enabling environment for financial inclusion” praises Uruguay

IN Switch at the 4º Financial Innovation & Means of Payment Forum
September 25, 2019

The Economist report, “Global Microscope 2019: The enabling environment for financial inclusion” praises Uruguay

Source: The Economist

For the second year in a row, Uruguay  is ranked within the top 3 countries with best environments for financial inclusion.

The report, titled “Global Microscope 2019: The enabling environment for financial inclusion”, was published by The Economist with the support of the Inter-American Development Bank and the Bill & Melinda Gates Foundation. It praises Uruguay, which was ranked third in the list of countries with best environments for financial inclusion, for the second consecutive year.  

Colombia is leading with 82 points, followed by Perú with 80 and in the third place is Uruguay, with 76 points.

The report highlights that all of the three countries “improved their overall scores, as well as their scores for specific domains.”

“Colombia and Uruguay also performed well on data protection, contributing to score increases in the Customer Protection domain for both countries.”

The report also points out that “Uruguay showed the greatest improvement in the Infrastructure domain.” This is because “women in Uruguay now have as much access to the Internet as men, and they have slightly better access to mobile phones and the national ID system than men.” This “ensures that women can take advantage of new digital financial service offerings in the country.”

However, “Uruguay still lacks an automated know-your-client (KYC) system, which would facilitate the adoption of digital financial services by both women and men.”

The “Microscope” also showed that “women hold higher proportions of top decision-making positions at financial-sector regulators in Bolivia, Colombia, Ghana, Morocco, Perú, Rwanda and Uruguay, among others, compared with other countries.”

Read the full report here

Financial Inclusion