Guatemala. Bantrab Financial Group renewed its slogan to reflect its essence: improve the quality of life of workers and their families. “During its 56 years of operation, it has evolved and built an ecosystem of products, services, channels and programs that contribute to improving the quality of life of the population,” explains Herbert Hernández, General Manager of Bantrab.
Bantrab’s Wellness Strategy rests on three pillars:
1. Financial
In addition to offering the best return to savers and investors, Bantrab designed the Wellness Program that allows clients to consolidate debts, improve their liquidity and pay less interest if they save. To date, 71% of the beneficiaries managed to balance their income and expenses.
The Financial Group also designed a loan for entrepreneurs with conditions adjusted to the life cycle of the business whose guarantee is the endorsement of an affiliated incubator. “We will increase financing for popular housing, small and medium-sized businesses, and second-tier banking,” adds Fernando García, Director of the Commercial Division.
2. Social
Bantrab provides free education to workers on good money management, whether or not they are Bantrab clients, through the BancAprende digital platform and the BanConsejos office. The first has benefited 17,000 people and the second has provided 8,846 personalized advice and 381 talks to 15,534 workers. Additionally, the bank launched Siempre Sí, a card for workers to rewrite their credit history. It grants them Q500 of financing and the option to deposit up to Q11,999 to use as a debit card. If the customer shows good behavior, they can opt for a classic card”, says García.
The Financial Group also promotes initiatives that contribute to job creation. Among them, Mundo sin Barreras (internships for students of the Neurological Institute of Guatemala), Mi Primer Empleo (hiring of 100 young apprentices pre-qualified by the Ministry of Labor and Social Welfare) and Emprendo por ti (business development program with 1,724 people benefited in six departments).
“The social pillar also includes support for communities, as well as culture and sport. In alliance with the Guatemalan Cycling Federation, we celebrate La Vuelta Bantrab and the UCI MTB Bantrab mountain event. Soon, we will present important initiatives to support football. Sport is essential for physical well-being and contributes to social cohesion”, adds Hernández.
3. Digital
Bantrab began its technological transformation four years ago with the purpose of promoting financial inclusion. Among its main efforts are the YoLo digital wallet, which has allowed the opening of 73,011 accounts from the cell phone; the credit prequalification tools Chat.IO, WhatsApp and self-management portals; and Bantrab Remittances App, an application for residents of the United States to send money free of charge in real time.
Source. Central American and Caribbean Digital Newspaper