Financial Inclusion Program for Migrants

As a development banking institution in Mexico, BANSEFI, in concert with the financial sector, responds to the need for financial services through mechanisms that stimulate financial inclusion. Thus, in an effort to offer financial products and services to co-nationals returning to the country due to a repatriation process, 12 service modules have been installed to offer many financial services.

Innovation Summary

Innovation Overview

In view of the current situation of Mexicans in the US, a series of actions are being implemented to further protect the rights of our co-nationals in said country, as well to offer both Mexicans abroad and those who have returned to the country access to different federal government programs and support. The repatriation of co-nationals is done at the Points of Repatriation established by the INM along the borders, and at the Mexico City Benito Juárez International Airport. The busiest points are Tijuana, Mexicali, Nogales, Ciudad Acuña and Nuevo Laredo.

According to the INM’s experience, returnees generally arrive without any belongings, but sometimes with money. Their main requirements to enter Mexico are:

a) work

b) health insurance

c) financial services.

In order to participate in public policy on migrant protection, BANSEFI aims to enrich migrants by offering them financial information that facilitates decision-making and enhances the use of financial services.

Therefore, BANSEFI created the Financial Inclusion Program for Migrants to encourage co-nationals in the process of repatriation to open savings accounts that offer them more security and thus enhance their access to various products, programs, and financial services.

Innovation Description

Innovation Development

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Year: 2017
Level of government: National/Federal government

Status:

  • Implementation - making the innovation happen

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