- The award recognizes the bank’s role in bringing financial literacy training and the promotion of savings to 7,000 people in rural areas of Apurímac and Cusco.
- In addition, 1,660 people who received training as part of the program went on to open a savings account with Confianza, of whom 81% were women.
Financiera Confianza has received the award for the Most Innovative Financial Institution in Peru in 2015, thanks to its “Ahorro para Todos” (Savings for all) product, which takes financial literacy and promotion of formal savings to low-income families in various rural areas around the country.
With this distinction the organizers of this important award have highlighted the bank’s work during the last year and a half in running “Ahorro para Todos” (Savings for all), the only private initiative to promote formal savings in rural areas, which has brought financial literacy training to 7,000 people in rural areas of Apurímac and Cusco. It has also encouraged 1,660 of these people to open a savings account with Confianza, 81% of whom are women.
The methodology of this program is innovative, as it is based on the prior knowledge of the target customers in order to understand their living situation, customs and language. It is only after this study that the training strategies were designed for the workshops, which are also taught in Quechua in order to be able to connect more effectively with the customers.
PREMIC 2015, the 10th edition of this prize in Peru, is organized by Citibank Peru and the Aprenda Microfinance Institute in association with the Association of Microfinance Institutions in Peru (ASOMIF), the Peruvian Federation of Savings and Loan Banks (FEPCMAC), the Consortium of Private Organizations for the Promotion and Development of Micro and Small Enterprises (COPEME) and the Peruvian National Federation of Savings and Loan Cooperatives (FENACREP).