Banco del Bienestar to Enable Transfers, Digital Payments in 2026 – Mexico Business News

Report on Banco del Bienestar’s Digital Expansion and Contribution to Sustainable Development Goals

1.0 Introduction: Advancing Financial Inclusion through Digital Transformation

Banco del Bienestar has announced a significant expansion of its digital services, scheduled for implementation in the first quarter of 2026. As part of the National Financial Inclusion Plan 2025–2030, the bank will integrate the Interbank Electronic Payment System (SPEI) and introduce digital payment options through DiMo and CoDi. This strategic initiative is designed to enhance the financial services available to its nearly 50 million users, primarily beneficiaries of federal social programs, and directly contributes to the achievement of several United Nations Sustainable Development Goals (SDGs).

2.0 Key Initiatives and Implementation Timeline

The core of the bank’s digital transformation involves the introduction of new functionalities aimed at reducing cash dependency and promoting formal economic participation. The key services to be launched are:

• SPEI Transfers: Enabling users to conduct real-time electronic fund transfers to and from other banking institutions.
• DiMo Payments: Facilitating mobile-to-mobile payments using only a phone number.
• CoDi Payments: Introducing QR code-based digital payment and collection services.

These services are slated to be fully operational for all users by the first quarter of 2026, marking a critical step in the modernization of the institution’s service offerings.

3.0 Alignment with Sustainable Development Goals (SDGs)

The expansion of Banco del Bienestar’s digital ecosystem provides a direct and measurable impact on key SDGs, particularly those focused on poverty, inequality, and economic infrastructure.

1. SDG 1 (No Poverty) & SDG 10 (Reduced Inequalities): By providing secure and efficient digital access to government social program funds for nearly 40 million beneficiaries, the bank strengthens the social safety net. This initiative empowers vulnerable populations, reduces geographic and socioeconomic barriers to financial services, and gives users greater control over their funds, thereby tackling poverty and reducing inequality.
2. SDG 8 (Decent Work and Economic Growth): Financial inclusion is a catalyst for economic growth. Integrating millions of new users into the formal digital economy encourages participation in everyday commercial transactions, reduces reliance on cash, and supports the development of a more robust and inclusive economic environment.
3. SDG 9 (Industry, Innovation, and Infrastructure): The adoption of modern, interoperable payment platforms like SPEI, DiMo, and CoDi represents a significant upgrade to Mexico’s national financial infrastructure. This move fosters innovation and builds a resilient financial system capable of serving a broad and diverse population, including those in remote areas with limited physical banking presence.

4.0 User Base and Digital Adoption

The initiative addresses a large and growing user base with increasing digital engagement. Current metrics highlight the readiness for this transition:

• The bank serves nearly 40 million social program beneficiaries and an additional 10 million voluntary savings account holders.
• The Banco del Bienestar mobile application has been downloaded over 25 million times, with approximately 2 million daily queries, indicating that half of its customers are active digital users.
• An anticipated 10 million new account holders from programs like the Mujeres del Bienestar pension and the Rita Cetina scholarship will further increase demand for digital services.

This digital shift is expected to alleviate liquidity challenges in remote regions by encouraging beneficiaries to use their cards for purchases rather than making large cash withdrawals.

5.0 Industry Context and Operational Considerations

The modernization of Banco del Bienestar aligns with broader trends in the Latin American financial sector, where there is a growing demand for instant and interoperable payment systems. However, challenges remain, including the need to build trust among users accustomed to cash transactions. Industry analysis indicates that successful financial inclusion strategies require a dual focus on technology and user education.

The bank’s operational scope will remain focused on the distribution and management of government transfers, with lending activities handled separately by Financiera del Bienestar. Ensuring system reliability, compliance, and rapid incident response will be critical to maintaining trust as millions of users transition to digital finance.

Analysis of Sustainable Development Goals (SDGs)

1. Which SDGs are addressed or connected to the issues highlighted in the article?

• SDG 1: No Poverty

  The article focuses on Banco del Bienestar, an institution whose primary role is the distribution of federal social programs to nearly 40 million recipients. By providing a secure and accessible platform for these government transfers, the bank directly contributes to social protection systems aimed at alleviating poverty.

• SDG 5: Gender Equality

  The article specifically mentions the “Mujeres del Bienestar pension” as a program that will bring new account holders to the bank. This highlights a direct effort to ensure women have access to financial resources and services, which is a key component of promoting gender equality and economic empowerment.

• SDG 8: Decent Work and Economic Growth

  The expansion of digital services like SPEI, DiMo, and CoDi strengthens the capacity of a major domestic financial institution. By expanding access to banking and digital payment services for millions of people, the initiative promotes broader participation in the formal economy, which is essential for sustainable economic growth.

• SDG 9: Industry, Innovation, and Infrastructure

  The article details a significant technological upgrade within Mexico’s financial infrastructure. The introduction of interoperable digital payment platforms (DiMo, CoDi) and the expansion of mobile banking services represent an effort to build a resilient, modern, and accessible financial technology infrastructure for all citizens.

• SDG 10: Reduced Inequalities

  A central theme of the article is reducing “geographic and socioeconomic barriers to accessing financial services.” Banco del Bienestar operates in regions with limited private bank presence, explicitly aiming to connect underserved communities to the financial system. This effort directly addresses the goal of promoting financial inclusion for all, regardless of economic status or location.

Specific Targets and Indicators

2. What specific targets under those SDGs can be identified based on the article’s content?

1. Target 1.4: Access to basic services and financial services

   By 2030, ensure that all men and women, in particular the poor and the vulnerable, have equal rights to economic resources, as well as access to basic services, … and financial services. The article details how Banco del Bienestar provides financial accounts and is expanding digital services to its customer base of nearly 50 million people, many of whom are beneficiaries of social programs.

2. Target 5.a: Equal rights to economic resources and financial services for women

   Undertake reforms to give women equal rights to economic resources, as well as access to … financial services. The mention of the “Mujeres del Bienestar pension” directly aligns with this target, as it is a specific government program aimed at providing women with access to financial resources through the bank.

3. Target 8.10: Expand access to banking, insurance, and financial services for all

   Strengthen the capacity of domestic financial institutions to encourage and expand access to banking, insurance and financial services for all. The entire initiative described—enabling transfers, introducing DiMo and CoDi, and managing millions of accounts—is a direct effort by a domestic financial institution to expand the scope and quality of financial services available to the population.

4. Target 9.c: Increase access to information and communications technology

   Significantly increase access to information and communications technology and strive to provide universal and affordable access to the Internet. The bank’s promotion of its mobile application, which has over 25 million downloads, and the introduction of digital payment systems contribute to increasing the population’s access to and use of digital financial technology.

5. Target 10.2: Empower and promote the social and economic inclusion of all

   By 2030, empower and promote the social, economic and political inclusion of all, irrespective of … economic or other status. The article states that the bank’s expansion supports its mission of reducing “geographic and socioeconomic barriers” and connecting communities to the financial system, which is the definition of promoting financial inclusion.

3. Are there any indicators mentioned or implied in the article that can be used to measure progress towards the identified targets?

1. Indicator for Target 8.10 (Proportion of adults with a bank account)

   The article provides concrete numbers that can be used to measure this. It states the bank serves “nearly 40 million recipients of social programs and about 10 million additional customers” and expects to add “roughly 10 million new account holders.” These figures directly track the number of people with access to a formal bank account.

2. Indicator for Target 9.c (Use of digital financial services)

   Progress can be measured by the adoption of the bank’s digital tools. The article mentions that the mobile application “has been downloaded more than 25 million times” and registers “around 2 million daily queries,” with “half of the bank’s customers actively use the app.” These metrics serve as direct indicators of digital financial service usage.

3. Indicator for Target 1.4 and 10.2 (Availability of digital payment options)

   An indicator for progress is the successful implementation of the new services. The article provides a clear timeline, stating that SPEI transfers, DiMo, and CoDi will be available from “the first quarter of next year (1Q26).” The rollout and subsequent usage of these services are measurable outcomes.

4. Indicator for Target 5.a (Number of women with access to financial services)

   While a specific number is not given, the article implies a measurable group by mentioning the “Mujeres del Bienestar pension.” The number of women enrolled in this program who hold an active account at the bank would be a direct indicator of progress toward this target.

Summary Table of SDGs, Targets, and Indicators

Source: mexicobusiness.news