The presentation delivered by the International Finance Corporation (IFC) at a roundtable with key stakeholders introduced a new gap assessment on financial inclusion for Venezuelan refugees and migrants in Colombia, highlighting the untapped potential for the financial sector to engage with this underserved market. The findings underscored that 2.3 million Venezuelans reside in Colombia, with 950,000 having obtained identity documents. This population exhibits a strong intent to remain in the country, with 68% of individuals being of working age and already generating income. However, only 20% of adult refugees and migrants have formal financial services, and merely 1% have obtained credit, relying heavily on informal saving methods and remittances. 

The presentation highlighted the role of 54 financial entities that have opened accounts for over 420,000 migrants, providing 563,000 financial products. Despite this progress, there remains a 60% financial inclusion gap between migrants and Colombian nationals, indicating significant room for improvement. 

The presentation emphasized the need to adapt existing financial products tailored to refugees and migrants' needs, such as transactional services, savings accounts, credit facilities, and insurance. Additionally, it identified transactional products with a volume potential of USD 1.19 billion as a key opportunity to capture informal financial flows and build client relationships. 

Priority segments, including salaried and independent workers, offer a potential placement of USD 152 million in credit and USD 37 million in annual revenues. To unlock this potential, IFC highlighted the importance of overcoming barriers, such as limited documentation acceptance and financial literacy gaps, through clear actions and collaboration with local financial institutions.