Banco Solidario

Subsidy : October 2019

The objective of this feasibility study is to determine the best banking mobile or alternative (non-traditional) distribution channels with the greatest impact to meet the needs of existing and potential clients of Banco Solidario.

Amount

€ 12,290.60

Type of investment

Subsidy

Beneficiary locations

Latin America and Caribbean: Ecuador

Investment field

Financial Institutions

Activity

Microfinance institutions

Organisation

Banco Solidario

Website

https://www.banco-solidario.com/

Domicile

Ecuador

More investments in

Banco Solidario

Debt € 8,338,200.00 (2019)
Subsidy € 77,220.00 (2012-2014)
Debt € 5,987,000.00 (2012-2016)

This project will allow Banco Solidario to :

Identify the banking channels that generate the greatest impact for its customers and the bank itself and identify adoption barriers. This will allow to increase channel use and customer satisfaction;
Reduce the flow of customers in branches and serve clients where having branches is not sustainable (costs); and
Reduce design and implementation risks.

Through this project, customers in urban, semi-urban and rural areas will improve their experience and satisfaction: they will reach to Banco Solidario easily since the channels will be improved.

In addition, there will be time and resource saving because the clients will not need to approach bank agencies personally to carry out transactions (receive disbursements, pay in installments, make deposits, pay for purchases or services, etc.).