"It is an unprecedented private sector agreement,"
Del Valle said the multinational is guided by its principle that "doing good has positive results for business," and added that she believed financial inclusion benefits society, as it strengthens the formal economy and creates job opportunities.
"Technology has the power to change the reality of millions of people and companies that are not prepared to face current challenges," said
Enrico stressed the importance of uniting "the best minds, resources and efforts with a singular focus: to build an inclusive economy in the region. This can be a game changer for many."
They will pool their technology and knowledge so that no one is left behind in the digital economy, said Del Valle.
It also frees thousands of people from having to rely on non-formal moneylenders and remittance services, she added.
According to data from 2017, 45% of the Latin American adult population, which is equivalent to 200 or 220 million people, did not have bank accounts.
Only
AN ALLIANCE FOR GOOD
Although it has its own independent entity, the "Tech for
Half of that objective has already been met. Between 2015 and the beginning of 2020, it contributed to the financial inclusion of 500 million people around the world.
Members of the "Tech for
In the first phase, they will focus on developing concrete initiatives in specific markets to expand basic financial services such as access to credit, financial aid, and educational tools and resources for the millions of Latin Americans who are currently vulnerable.
Over time they will share best practices and the results of the initiative with the financial services industry more widely for the betterment of the ecosystem through virtual events, white papers and publications, among others.
The regional senior vice president of Digital Partnerships points out that new products such as banking applications and digital wallets may emerge from this alliance.
ACCESS, USE AND SECURITY
In Del Valle's opinion, the most important thing is that this partnership goes "beyond" achieving that a greater number of people in
The technological boom seen in
The association will work on ways to develop digital resilience programs for the millions of micro and small businesses that do not have the ability to resume operations.
According to a
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