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.

•Promote entrepreneurship and job creation.

•Strive for economic autonomy and empowerment for thousands of women.

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

•Reduce the financial sector’s margin of risk in the most vulnerable sectors.

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.

IDEA:

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.

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

01/2021: Implementation of datatienda.mx platform; five months of development and testing to enable proper automation of data.

08/2021: Communication campaign based on loudspeaker strategies in the lower social classes of Mexico City.

10/2021: The first 1,000 records are collected on the platform, and the first credit histories are recovered with them.

12/2021: More than one hundred women receive the first microcredits for their businesses.

02/2022: The communication campaign is repeated in major cities such as, Puebla, Guadalajara, Morelia, and Monterrey.

02/2022: datatienda.mx recovers more than 10,300 credit histories the data of more than 50 thousand businesses from all parts of the country.

05/2022: 23% of women on the platform (more than 2,300 women) receive microcredits for their businesses ranging from $2,000 to $20,000 Mexican pesos.

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

•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.