Network News August 2020

Thursday 27th August 2020

Alliance members continue to innovate to meet the evolving needs of customers, from developing a portal to boost sales for struggling SMEs, to providing healthcare packages for at-risk clients. Here is a roundup of the latest news from our members in August.

Financial solutions for struggling SMEs

BHD León
BHD León launched “Oportunidad Open”, a business portal for SME clients to promote their products and services free of charge, enabling struggling SMEs to boost sales during the pandemic. BHD León is also conducting a digital media advertising campaign to publicize the promotions in the portal.

Financial solutions for women

BRAC’s TARA program, the bank’s women-focused initiative, launched an Internet Banking activation campaign for its customers to make them aware of new online banking services.

TARA also provided a unique health care offering with its FLEXI DPS (Monthly Deposit Scheme) product, which allows customers to access a free 12-month digital healthcare package including hospital coverage for COVID-19, maternity coverage, access to telemedicine, and discounted appointments.

Stanbic Bank
Stanbic Bank in Kenya celebrated the one-year anniversary of its DADA (Dare to Aspire, Dare to Achieve) program. In its first year, DADA supported over 7,000 women and provided more than $1.1 billion KES ($10.1 million USD) in loans.

Non-financial solutions for women

Santander Argentina
Santander Argentina launched the latest edition of its X Entrepreneur Award, a business plan competition that the bank has organized for the last 15 years to promote entrepreneurship among students and young professionals. This year, the competition features a Women’s Award to recognize female entrepreneurs in STEM fields.

Throughout the pandemic, TARA continued to inspire women by featuring role models on its Power Women radio show, where women from diverse professions and backgrounds discuss how they overcame gender bias.

International recognition and partnerships

Santander Argentina
Santander Argentina was named the Best Bank Partner for Women in Trade in Latin America and Caribbean by the International Finance Corporation (IFC). The award recognizes Santander Argentina’s achievements in financing women-led businesses through its Banca Women program as well as its groundbreaking work supporting female importers and exporters.

IDB Invest & Davivienda
IDB Invest, part of the IDB Group, structured the first gender-focused outcome-based bond worldwide. The US$100 million bond will be issued by the Alliance’s first member in Colombia, Davivienda. Proceeds will be acquired by IDB Invest to finance the growth of its women-led SME portfolio and other female-focused impact ventures, including housing for women.