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Financial Inclusion Demand Survey Data

  • The survey carried out between April and May also reflects that ease and security continue to drive the use of digital channels to carry out transactions.

  • Preference for cash continues to decrease compared to previous measurements and is below 80%.

  • In urban areas, the preference for digital media (Internet and mobile telephony) prevails, while in rural areas, money transfer companies are used more. In both, the use of banking correspondents is high.

  • The Centro Nacional de Consultoría surveyed 5,513 people over 18 years of age, who were asked about their perception of access to and use of financial products and services.

Financial Inclusion in Colombia
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Bogotá, August 2, 2022 – (@SFCSupervisor - @BOportunidades) The Financial Superintendence of Colombia -SFC- and Banca de las Oportunidades presented today the data collection of the 2022 Financial Inclusion Demand Survey, applied by the CentroNacional de Consultoría – CNC - between April and May.

Through this survey, information was collected from 5,513 people over 18 years of age from all regions of the country in order to know the perception of financial consumers regarding the quality and use of the different deposit, credit and insurance options, as well as as your preferences when making payments.

Regarding the alternatives to make deposits and payments, 47.9% of those consulted indicated that they had a savings account and, in an equal proportion, a digital wallet. 37.0% use a debit card and 9.2% a current account. The main reasons for choosing these options are marked by the ease and security that they offer to carry out different types of transactions.

“The data obtained allows us to see how the digitization processes were accelerated, as well as the changes in the relationship model of the financial system with its users. A scenario in which digital financial products have been appropriated in an important way among financial consumers”, explained Mariana Escobar, Head of Sustainable Finance of the SFC.

Preferred channels

According to the information collected, the most used financial channels in the country are ATMs (33.6%), followed by banking correspondents (33%) and digital media (Internet or mobile telephony [24.5%] ). Only 9% of those surveyed reported that physical offices are the option they most frequently use to carry out their operations.

In this regard, the respondents were asked about which was the alternative they used the most in the last month and the transactions made by transfer through the cell phone reached a preference of 41% by the respondents.

When asked about the preferred means of payment to manage daily expenses, 62.2% of those surveyed indicated that they did so with physical money, 18.1% with debit cards and 15.2% through electronic transactions.

Despite the fact that the use of cash continues to be the most used means in the country, in the 2022 measurement there was a decrease in this aspect, since in previous surveys this percentage was located at levels higher than 80%.

Regions and zones

According to data from the 2022 Financial Inclusion Demand Survey, virtual channels are more widely accepted in the Central East region (51.3%), while banking correspondents are preferred by consumers in the Coffee Region (41.3%). 5%).

On the other hand, Internet transactions and ATMs are more used in urban areas, while in rural areas the preference prevails in money transfer companies.

Preventive saving prevails

More than half of those consulted by the CNC (53.4%) said they were in the habit of saving. Within this group, 77.6% said they did so in order to have financial support that would allow them to deal with emergencies and unforeseen events, that is, as an insurance mechanism.

The three main means most used to save are virtual wallets with 10.4%, banks, cooperatives or employee funds with 11.4% and the traditional piggy bank or other means in their home with 22.4%.

Access to credits

Close to 27% of those interviewed indicated that they had a current credit. People from the Central East and Central South regions of the country are the ones who use financing mechanisms the most, while those from the Caribbean region presented the lowest levels.

At the national level, it was observed that, within the formal sources of credit, the main ones are banks (66.9%) and cooperatives (14.3%).

Regarding the sources of informal credits that the people who were part of the survey used the most, there are family and friends with 7.6%.

The indicator of approval of credits requested before authorized entities was around 94% for all credit modalities at the national level.

For 68.3% of those consulted who said they did not have a formal credit or have not made an application during the last year, the main reasons were: not wanting to have debts (66.9%), believing that it is an expensive option ( 32.6%), have low income (26.8%) and do not have guarantees (13.2%).


In the field of voluntary insurance, funeral and life insurance were the most used among the citizens surveyed with 14.4% and 12.9%, respectively. Men indicated insurance to a greater extent than women, both mandatory (27.3% vs. 10.0%) and voluntary (34.0% vs. 26.1%).

The data from the 2022 Financial Inclusion Demand Survey ratify the challenge for people to get closer to insurance alternatives other than those associated with the labor market, social security or having a loan in the financial system.

“We want members of the financial ecosystem, researchers and leaders of the next development plan to have inputs to continue building the financial inclusion policy, in a country that is advancing towards digital transformation. For this reason, all the information from this survey, including the technical sheet and microdata, will be available to everyone on our website,” said Freddy Castro, director of Banca de las Oportunidades.

The analyzes and conclusions of this survey will be compiled in the report of the 2022 Financial Inclusion Demand Survey. The complete database and the technical sheet can be consulted at the following link:

• Quality survey and use of financial products

Encuesta de Demanda 2022
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