Which countries offer the best access to financial services?

Affordable financial products and services play a crucial role in people’s lives — but access varies widely across Europe. New data show which economies are ahead, and which ones lag behind, in 2025.

The World Bank defines financial inclusion as giving individuals and businesses access to useful and affordable financial products and services — such as payments, savings, credit and insurance — delivered in a responsible and sustainable way.

The Global Financial Inclusion Index, published by Principal Financial Group and the Centre for Economics and Business Research (Cebr), analyses 42 global markets across three pillars: government support, financial system support and employer support.

Among 14 European countries, Switzerland ranks first with an overall score of 71.1, with Sweden (68.8) and Denmark (68.4) following closely.

All three appear in the global top 10 for both the government and financial system pillars. Kamal Bhatia, president and CEO of Principal Asset Management, told Euronews Business: “This suggests that any pullback from employer support felt in these markets was better supported by the other two pillars of financial inclusion.”

The UK scores 61.8, ranking fourth in Europe and tenth worldwide. That places it ahead of Europe’s top five economies.

The country entered the world’s top ten this year, a rise Bhatia attributes to stronger government and financial system support.

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For government support, the UK climbed two places, helped by improvements in consumer-championing regulations; higher awareness and uptake of mandated pensions and savings schemes; and wider availability of government-provided financial education.

Bhatia also pointed to the government’s plan to boost public spending by £70 billion a year until 2030, saying it has helped more households access financial resources. The share of people who feel financially included rose from 59% to 68% over the past year.

London also continues to rank as Europe’s top financial centre.

Italy (34.9) has the lowest overall score in Europe, followed by Turkey (39.3). Germany (53.3), France (47.9) and Spain (44.1) also fall below the European average of 54.6.

Pillar-level data show that Switzerland and Norway lead in government support, while Turkey and Italy score lowest.

Sweden and Denmark top the rankings for financial system support, while Italy and Poland are at the bottom.

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Switzerland and Turkey, meanwhile, score highest for employer support, while Italy and the UK rank lowest.

Globally, Singapore is the strongest performer with a score of 81.1. Hong Kong ranks second with 71.7. Four European countries — Switzerland, Sweden, Denmark and the UK — appear in the global top ten.

The United States ranks seventh. The United Arab Emirates, at 22nd with a score of 52.7, sits ahead of several major European economies including France and Spain.

Bhatia said the findings show that no single pillar can sustain financial inclusion on its own. “Long-term progress depends on a symbiotic relationship where governments set policy, financial systems modernise access, and employers deliver education and benefits directly to people,” he told Euronews Business.

Digitisation has become a powerful driver: markets making the fastest progress tend to be those embracing purposeful fintech.

“These solutions not only expand access through digital infrastructure but also embed education, information and safeguards, enabling informed choices and greater financial security,” Bhatia added.

This year marks the first time the overall global score has stalled after several years of improvement, said Seema Shah, chief global strategist at Principal Asset Management.

She attributed the slowdown largely to a pullback in employer-driven support, as companies facing macroeconomic pressures reduced benefits, guidance and financial flexibility.

“Richer economies and markets that have invested in structural measures — from digitising their banking infrastructure to rolling out financial-literacy campaigns — have built a more resilient framework for financial inclusion,” she said.