MEXICO CITY (PRWEB) August 06, 2018
BFA—a global consulting firm specializing in financial services for low-income communities—has produced a report showing that the presence of Banco Azteca increases the likelihood of economic strength in the Peruvian communities in which it operates.
In the publication “The Impact of Banco Azteca in Peru”, BFA points out that, despite being one of the most dynamic economies in Latin America, Peru has relatively low levels of financial inclusion. In 2014, only 29% of people aged 15 or older had an account with a financial institution.
Banco Azteca began operations in Peru in 2008, and now has more than 150 branches, oriented to locations unattended by traditional banking. According to BFA’s study, since Banco Azteca started its operations, there have been positive economic effects, reducing the probability of being unemployed and being poor, within these locations compared with locations where there is no Banco Azteca branch.
The findings suggest that access to financial services, such as savings and credit for unattended segments, improves economic opportunities for Peruvians. BFA’s paper can be found at http://bfaglobal.com/projects/the-impact-of-banco-azteca-in-peru/.
BFA is a global consulting firm specializing in using finance to create solutions for low-income people. Our approach is to seek out, create and implement financial solutions to help people manage challenges and seize opportunities. We partner with cutting-edge organizations that touch the lives of low-income consumers such as financial institutions, fintech companies and information providers. In creating solutions, we integrate our deep expertise in customer insights, business strategy, new technology, and growth-enabling policy and regulation. Founded in 2006, BFA’s clients include financial institutions, technology companies, donors, investors and policymakers. BFA has offices in Boston, Medellín, Nairobi, New Delhi, and New York. For more information, please visit: http://www.bfaglobal.com.