WHY IS THIS WORK RELEVANT?

Millions of low-income women in Mexico are unable to become entrepreneurs because they do not have access to bank credit. According to the Comisión Nacional Bancaria y de Valores (National Banking and Securities Commission), 83% of them don’t have a “credit history” so their loan applications are rejected.

Paradoxically, they are women who have received loans from neighborhood stores all their lives, so, they have a long credit history.

Datatienda.mx collects this information from the neighborhood businesses and uses it to create a credit history that secures them with the banks and allows them to obtain microcredits, financial inclusion, and economic autonomy.

BACKGROUND

Millions of low-income women in Mexico cannot study or start a business because they do not have access to bank credit.

According to the National Banking and Securities Commission, 83% of them don’t have a bank payment history that allows for verification of their payment behavior, thus having their loan applications rejected.

BRIEF:

WeCapital, seeking the financial inclusion of low-income women in Mexico, asked us to find a way to help millions of them gain easier access to microcredits.

GOALS:

• Financial inclusion of over 83% of Mexican women.

•Rebuild the credit histories of more than 35 million low-income women.

•Increase the visibility of gender equality in Mexico.

•Strive for economic autonomy and empowerment for thousands of women in one of the 20 countries that are among the worst countries for women according to the UN (United Nations).

•Support the task of bankarization of the financial sector and government.

IDEA

Millions of low-income women in Mexico are unable to become entrepreneurs because they do not have access to bank credit. Paradoxically, they are women who have received loans from neighborhood stores all their lives, so, they have a long credit history. Just that these credits don't appear in the financial information centers, but it does in the accounting records of millions of shopkeepers throughout the country.

We collect information from small neighborhood businesses on the payment behavior of millions of low-income women to build a credit history that guarantees their access to the financial sector and enables them to obtain microcredits and achieve financial inclusion, economic autonomy, and empowerment.

STRATEGY

To collect data, women should only enter the information of at least 5 trusted stores on platform, so the system, through WhatsApp bots, automatically collects qualitative and quantitative information from shopkeepers and it creates a credit score, which analyzes even more variables than the traditional information system.

The platform provides banks with the credit history of millions of unbanked women, enabling them to provide loans with the lowest risk margin.

HOW DOES THIS WORK?

Data Tienda allows any Mexican woman to recover her credit history while enabling financial institutions to view the payment history of all women registered on the platform.

For women:

Women who want to create a credit history need to enter the information of at least five trusted stores in datatienda.mx so that the system, through WhatsApp bots, collects qualitative and quantitative information from shopkeepers and creates a credit score that is available to banks.

For banks:

With a prior registration in datatienda.mx, any financial institution can view, download, send or print the credit score of the women it wants to consult.

RESULTS

· Since the platforms launch, more than 10,300 women have registered to build their credit history.

· Of the more than 10,300 women who have registered on the platform, 23% (more than 2,300 women) have received microloans for their businesses and study plans.

· With Data Tienda, we were able to obtain data from more than 50,000 business owners across the country to financially include thousands of low-income women.

· We restored the economic autonomy and empowerment of thousands of women.

· We have made visible gender inequality in Mexico.

· We have promoted entrepreneurship and job creation in the country.

· We have supported the efforts of the financial sector and the government to make the country’s banking sector more bankable.

· We have reduced the financial sector’s risk margin in popular sectors.

Gahr WeCapital - Data Tienda

CREDITS

Gold partners