Domícia Maria de Jesus has become a benchmark for her community. This Brazilian woman began at a very young age to make and sell sweets, initially on a small scale, which little by little became a tradition. Over the years, and by the hand of Thrives, was born his restaurant Delicias da Domícia in Campos Salles (Ceará, Brazil).
Prospera is one of Banco Santander’s flagship programs in Latin America, where it is making a difference. In a region where more than 200 million people do not have access to the formal financial system – according to World Bank data – this initiative allows the most vulnerable groups to access microcredits that they could not reach through banking services. traditional.
The idea emerged in Brazil 19 years ago and, after being exported to Uruguay, it has just premiered in Colombia. The objective of the Santander subsidiary in this country aims to help small entrepreneurs grow, generate employment and have a positive impact on the development of communities, offering credits immediately for various kinds of businesses. The process is digital and is resolved in less than 24 hours.
“Prospera is one of the Santander brands that promotes responsible banking: it helps people achieve their dreams, encourages the creation of new jobs and promotes economic growth. We are proud to present our microcredit line in Cundinamarca, a key region for the country’s economy, its people stand out for being hard-working and entrepreneurial. We are here to support them and support the growth of their business ”, explains Martha Woodcock, head of the Santander group in Colombia.
The initiative allows the most disadvantaged people with the lowest income level to get out of poverty. Proof of this is that Santander Brasil has granted more than 1,400 million euros (9,000 million reais) in microcredits in a total of 1,500 cities. These resources have helped fuel the business of more than a million small entrepreneurs and their communities.
Thanks to this program, Banco Santander was included in 2019 in the list of companies that are changing the world (Ranking Change the World) of Fortune magazine, where 52 companies from 18 countries that have a positive impact on society stand out. The entity occupied the first place in the ranking among commercial banks and the sixth place among all the companies chosen.
In addition, the entity develops financial inclusion initiatives in other countries, such as Argentina, Chile, El Salvador and Mexico. In the latter, the program Tuiio It has been highlighted by Mexico’s Global Compact as an initiative to end poverty in the country. Its objective is to generate a positive social impact on the lower-income Mexican population through comprehensive financial inclusion, offering products and services with a high digital component that allow them to improve their living conditions and those of their family.
Financial inclusion, a global commitment
Banco Santander is making solid progress towards the financial empowerment of the most disadvantaged groups, promoting inclusive and sustainable businesses. The bank’s strategy focuses on three lines of action: access people who are unbanked or at risk of exclusion from basic services; financing and products for people with low income or with economic difficulties; and education to make economic concepts more understandable and help make the best decisions.
Its objective is to achieve the financial inclusion of 10 million people between 2019 and 2025. During the first half of the year, the entity has reached the figure of six million empowered people, of which 1.2 million have been through microfinance initiatives.
This permanent work has just been recognized by the British magazine Euromoney which, in the 2021 Global Awards for Excellence (Global Awards for Excellence), highlights Santander as Best Bank in the World for Financial Inclusion. The publication highlights the group’s work to financially empower both individuals and entrepreneurs in Latin America, Europe and the United States.
“During the last three years we have facilitated the financial inclusion of six million people. With this, we generate a positive impact in their lives, helping entrepreneurs to start their businesses thanks to our microfinance programs; or making it easier for customers to use digital channels so that they are not left behind in the digitization process. We thus contribute to generating inclusive and sustainable growth. I am so glad that Euromoney has recognized the efforts and innovation of our teams around the world ”, said Ana Botín, president of Grupo Santander.