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10mn people empowered between '19 and '25 +5mn more 2023-2025 (Financial Inclusion*)
10mn people empowered between '19 and '25 +5mn more 2023-2025 (Financial Inclusion*)
*with access and finance initiatives. Not including Financial education
Financial inclusion and empowerment
Santander Finance for All helps people access the financial system, set up and grow micro-businesses, and learn how to manage their finances. Our strategy addresses the needs of individuals and SMEs in Europe, Latin America and the US who have problems obtaining credit, limited financial knowledge or financial difficulties.
Our three lines of action promote financial inclusion:
financially empowered people
to 1.6mn microentrepreneurs
financially empowered people
to 1.6mn microentrepreneurs
We aim to guarantee basic financial services for everyone.
We promote access to the banking system and payment accounts. Our digital platforms help the unbanked make payments and use basic services tailored to their needs to overcome barriers, take greater control of their finances and perform faster and safer banking operations. Our Superdigital platform is a flagship initiative with approximately 500,000 users in Latin America.
We also seek to guarantee financial products in sparsely populated, small or remote areas (most of which have a sizeable elderly population), with branches and ATMs in Latin America and Europe as well as agreements with private and public entities to boost the financial inclusion of underserved communities.
Our objective is to guarantee financing for SMEs and entrepreneurs who have trouble obtaining credit, through microfinance proposals for unbanked or underserved populations in Brazil, Mexico, Argentina and Uruguay and other initiatives. Through programmes like Prospera and Tuiio, we offer more than just loans, by extending to bank cards, current accounts, savings and insurance.
We seek to finance the basic needs of low-income households through products and services like affordable housing programmes and mortgage payment deferrals. We also provide loans to underserved SMEs, some of which are guaranteed under EU and domestic schemes.
We foster resilience through financial education. Our objective goes beyond helping people open bank accounts. We make sure they have the skills to manage their finances and can make the right choices about the products and services that suit them. Our programmes are diverse and target various groups, with formats and tools that make financial education more accessible and our initiatives more impactful.
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Main initiatives
Superdigital
Banking without a bank. Superdigital is Santander’s flagship mobile platform for cash deposits, withdrawals and payments. Available in Argentina, Brazil, Mexico and Chile, it builds on fast growing smartphone use and better network coverage in Latin America to increase financial inclusion.
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Prospera
Created in 2002, Prospera is the largest microfinance programme offered by a private bank in Brazil. It’s a productive model aimed primarily at people without access to formal banking. In 2021, Santander Colombia and Santander Perú launched new microfinance programmes.
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Tuiio
Launched in October 2017 in Mexico, Tuiio is a financial inclusion programme for low-income households. Its objective is to have a positive impact on communities by offering competitive microloans, especially to support and develop businesses.
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