How Digitalization Is Transforming the Relationship Between Women, Financial Institutions, and Fintechs

For many years, discussing financial inclusion in Latin America meant discussing access: access to accounts, loans, or basic banking services. Today, the conversation has evolved. It is no longer just about “having access,” but about how people interact with the financial system and how well it is adapted to their daily lives.

Amid this transformation, there is a segment that is becoming increasingly relevant to financial institutions, credit unions, and fintechs: mothers and new female financial users.

Far from being a secondary niche, they now represent a fundamental part of digital financial growth in the region. They are household managers, entrepreneurs, self-employed workers, professionals, and economic decision-makers within their families.

Furthermore, digitalization is profoundly changing the way this group interacts with financial products and services.

The New Face of Financial Inclusion in Latin America

The digital transformation of the financial sector has been accompanied by a significant demographic shift.

Currently, much of the growth in fintech users in Latin America comes from segments historically underserved by traditional banks, particularly:

• women,
• young people,
• entrepreneurs,
• self-employed workers,
• and people living in intermediate or rural areas.

According to regional studies on financial inclusion, women’s participation in advanced levels of financial inclusion rose from 11% in 2021 to 24% in 2024 in Latin America, reflecting significant growth in the active use of digital financial products and services.

In addition, the proportion of women with low levels of financial inclusion decreased from 56% to 36% during the same period.

This demonstrates that women are participating increasingly actively in digital financial ecosystems and formal credit processes.

Financial Digitalization and New Household Dynamics

Today, many Latin American mothers play a strategic role within the financial ecosystem.

Many of them:

• manage household expenses,
• make financial decisions,
• run small businesses,
• handle digital payments,
• and seek financial tools that allow them to save time and simplify processes.

And time, in fact, has become one of their most valuable assets.

For a woman who works, runs a business, or heads a household, physically traveling, standing in long lines, or repeating manual processes represents a real barrier. That is why digital experiences are gaining such widespread adoption among this segment.

Financial technology now makes it possible to:

• apply for products from a cell phone,
• upload documents digitally,
• make online payments,
• receive remote follow-up,
• and access more streamlined processes.

According to recent data on digital financial inclusion in Mexico, the use of mobile apps for banking activities rose from 54.3% to 69.1% between 2021 and 2024.

This growth reflects how digital channels are transforming the relationship between individuals and financial institutions.

Women’s financial inclusion remains a challenge… and an opportunity

Although progress has been significant, major gaps still exist.

In Latin America, only 70% of women have access to financial products, compared to 77% of men. Furthermore, only 25% of women have applied for loans from formal financial institutions, compared to 36% of men.

These differences show that challenges remain regarding:

credit history,
geographic access,
financial education,
and the availability of products tailored to their needs.

However, this also represents a huge opportunity for fintechs, cooperatives, and financial institutions that understand how to design more human and accessible experiences.

Technology that supports, not replaces

One of the most common mistakes when discussing digital transformation is assuming that everything must be 100% self-managed.

But in Latin America, especially in cooperatives and regional organizations, human support remains essential.

Many users still value:

• personal connection,
• advice from a counselor,
• trust,
• and the ability to resolve questions before making financial decisions.

That is why hybrid models are gaining momentum.

Today, many organizations combine:

• in-person service,
• advisor support,
• and technological tools that streamline applications, approvals, and follow-up.

Technology does not replace human relationships. It strengthens them.

This hybrid approach allows for more streamlined processes without losing the personal connection with the member or customer.

The Role of Fintech Companies and Cooperatives in This Evolution

Fintech companies and cooperatives now have a strategic opportunity to connect with new generations of financial consumers.

This is especially true because people expect:

• quick responses,
• mobile experiences,
• less paperwork,
• greater clarity,
• and simple processes.

But they also expect empathy and support.

And this is leading the financial sector to rethink the entire user experience.

In fact, the Latin American fintech ecosystem continues to grow rapidly. According to IDB data, Latin America ended 2023 with more than 3,000 active fintech companies, a growth of over 340% since 2017.

This growth demonstrates how financial digitization is accelerating new models of service and access.

Financial inclusion also generates social impact

When a woman gains access to better financial tools:

• it improves household stability,
• strengthens her financial independence,
• expands opportunities for her family,
• and makes a difference in her community.

That’s why talking about women’s financial inclusion isn’t just about technology.

It’s about opportunities.

It’s about understanding that behind every credit application, every digital payment, or every financial transaction, there are real stories of people seeking simpler, more accessible, and more human solutions.

And that’s where fintech can make a truly transformative impact.

The financial future will be more human, flexible, and digital

The evolution of the financial consumer in Latin America is making one thing clear: people no longer compare just financial products. They also compare experiences.

And in this new financial experience, mothers and new digital users are setting an important trend:
they seek solutions that are agile, accessible, and compatible with their lifestyle.

Financial institutions, credit unions, and fintech companies that succeed in combining:

• technology,
• human connection,
• simplicity,
• inclusion,
• and support,

will be the ones that best connect with the region’s new financial users.

Because digital transformation is no longer just about modernizing processes.

It’s about better understanding people.

At Shareppy, we help financial institutions and cooperatives modernize their processes through digital and hybrid solutions that streamline operations without losing the personal touch with members.

Learn how technology can help improve your users’ financial experience while strengthening the inclusivity and efficiency of your processes.

📩 Contact us and discover how to support new members in this digital evolution.

👉 www.shareppyinternacional.com

📱 Escríbenos al WhatsApp: +57 324 296 5208
📧 comunicaciones@shareppyinternacional.com