Sustainable Development Goals > Prosperity

CASH EVERYWHERE

OGILVY, La Paz / SOULFTWARE SRL / 2022

Awards:

Bronze Cannes Lions
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Overview

Credits

Overview

Background

We think first about people needs, then design, then technology.

We want to democratize the financial services and be a blessing to the people we serve in the process of massive financial inclusion.

We develop technology with purpose because in Bolivia there are less than 42 ATMs for every 100,000 people and they are only accessible to the most privileged.

Latin America was the only region where cash usage grew during the pandemic. We needed more ATMs. But there was a huge problem. It costs $8,000 to install an ATM and $1,000 to maintain it per year.

Our main objective was to increase the number of ATMs at least in 100% the first year and democratize the access to money with a very low budget.

And we made it.

Everyone deserves to have the same rights and opportunities regardless of their race, social status or physical condition.

Describe the cultural / social / political climate and the significance of the work within this context

- There are 11MM inhabitants and almost the 100% still uses cash.

- On the other hand, there is almost a 100% smartphones penetration.

- 80% of banked people takes their salary out from an ATM every month till day 4 but there are not enough ATMs.

- In Latin America the use of cash grew during the pandemic.

- Only 42 ATMs for every 100,000 people and they are only accessible to the most privileged.

- This innovation could change the way people interact with money, going from an offline need (cash) to an online solution (the application).

- We may be talking about the missing link between traditional banking culture and the digital one.

- Taxis, delivery motorcycles and stores work with cash inventory. There are tons of money in the streets! We just needed to convert them into the first mobile ATM network in the world!

Describe the creative idea

Blink turnos more than 70,000 taxis and 10,000 delivery motorcycles into the world´s first mobile ATM network.

We work with the money that taxi drivers have in their cars, the money from delivery motorcycles and neighborhood stores.

You have the need for cash, they have the money in their vehicles and businesses.

We connect an offline need with an online solution.

This is the first mobile ATM network in the world.

Describe the strategy

- There are 11MM inhabitants.

- Almost 100% smartphones penetration.

- 80% of banked people takes their salary out from an ATM every month till day 4.

- In Latin America the use of cash grew during the pandemic.

- Only 42 ATMs for every 100,000 people.

- This innovation could change the way people interact with money, going from an offline need (cash) to an online solution (the application).

- We may be talking about the missing link between traditional banking culture and the digital one.

- Taxis, delivery motorcycles and stores work with cash inventory. There are tons of money in the streets! We just needed to convert them into the first mobile ATM network in the world!

Describe the execution

Blink is a bolivian-based application for iOS and Android. We expect to growth regionally starting on Q4 - 2022 and we hope to impact 360MM banked people in the region in 2027.

- December 2020 Blink is incorporated.

- In 2021 we integrated Blink to BCP Bank and got our first delivery ally Yaigo with more than 4000 motorcycles.

- April 4th 2022 we soft launched the app within the BCP Bank clients with an exclusivity contract.

We are planning to scale to Perú in BCP Bank on January 2023 and start an ambitious scaling offering the solution to other banks in the region.

Describe the results / impact

- Through our main transactional partner (BCP Bank --leading bank of Perú and third in Bolivia--), we impacted 6,500 customers on the first day of launch that now can access to their money wherever they need it.

- 4000 brand new mobile ATMs on the first day of launch.

- We had a 1100% growth of ATMs in just one day.

- We saved BCP Bank $32 million on ATMs installation and $4 million on maintenance.

- More than US$ 0.5MM reached in worldwide earned media before launching.

- Worldwide coverage in 21 specialized media in countries such as France, UK, USA, Spain, India, LATAM countries, etc.

- We were selected as one of the Top 100 Startups in The World by Entrepreneurship World Cup 2021.

We accomplished and overcome IN JUST ONE DAY, our main objective that was planned for one year!

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