18 | FEB | 2019
56 million Mexicans manage their finances online
56 million Mexicans use online banking services – Photo: File Photo/EL UNIVERSAL

56 million Mexicans manage their finances online

Mexico City
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Online banking offers large benefits like accessibility and better prices, that's why 56 million Mexicans use it

56 million people manage their finances online, says LaTasa; and the main reasons for this change towards technology is because it offers accessibility, personalization, and better prices and how easy it is to use.

According to the Bank of Mexico (Banxico), these advantages in the use of online banking have resulted in a 64% increase in the number of users, compared to 2017.

In a statement released by the digital investment platform, LaTasa, they claim that among these advantages, accessibility is the most important service, as it only requires a smartphone and an internet connection to make inquiries or any transaction.

It says that online platforms also offer products that easily adapt to every person's needs, which has been a major concern during the technological development of these services.


Digital finances are a growing trend in Mexico

According to the digital investment platform LaTasa, 56 million Mexicans currently prefer to use technology in their finances
Digital finances are a growing trend in MexicoDigital finances are a growing trend in Mexico

An example of this is the credit platforms, as they evaluate different variables in order to offer a personalized rate that matches their finances.

The firm highlights that companies, by moving a large part of its operations to digital platforms, have managed to reduce costs and become more competitive.

It stated that this feature has been largely used by investment platforms as the savings in fixed expenses have allowed offering a profit of over 15% per year.

In regard to this, it pointed out that the digitalization of documents and being able to send information through e-mail or other digital platforms saves a great amount of time on paperwork that used to take a very long time.

On the other hand, the Internet Association affirms that one of the main reasons for not using online banking is that people prefer going to the bank, followed by those who don't consider online transactions to be safe.

LaTasa's general director, Diego Paillés, said that "the technological element has always been at the core of our operations, it has motivated innovation and adaptation in the market".




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