Mexico has seen a five-year delay in financial inclusion and technological innovation compared to other nations. However, Juan José Galnares, the General Director of Openbank, believes that the digitalization of banking, including the introduction of new banks into the system, will help reverse this trend soon. He emphasizes the importance of adapting banking products to the Mexican market, citing the potential for investments in cryptocurrencies and the use of artificial intelligence (AI) to assist customers.

Despite the promise of digital banking, Galnares acknowledges that some structural issues within the country must be addressed before more sophisticated banking offerings can be introduced. The focus will remain on increasing bank penetration and ensuring that services are efficient for users. He mentions the need to educate customers on basic financial products, such as debit accounts, credit cards, and investment accounts, before gradually introducing more complex services.

The overarching goal is to foster financial literacy and independence among Mexicans, enabling them to navigate the banking landscape more effectively. By doing so, the digital banking initiative aims not only to improve access to financial services but also to empower users in their financial decisions, ultimately bridging the gap in financial inclusion.