Stories of improvement deserve to be heard. And today it is possible to know many of them thanks to the BBVA Microfinance Foundation (BBVAMF), go streaming, all over the world. The topic to view? How is the real progress of the over three million entrepreneurs it supports in Latin America measured? This is a meeting, chaired by Her Majesty The Queen, where the BBVAMF shows why rigorous data measurement has become a key element of its social strategy. It is accompanied by other Spanish organizations that use data to benefit people to improve health, agriculture, environment and development.
Carlos Torres Vila, president of BBVA, underlined the value of knowledge and innovation as drivers of social and economic transformation: “Every information is an opportunity to improve life and create a future with more well-being and progress for all”. Today data is the protagonist.
Ms. Letizia stressed that “technology and data analytics must help improve the lives of those who need it most. The BBVAMF supports more than three million vulnerable entrepreneurs in five Latin American countries. With this data and cutting-edge technology, the Foundation creates products and services that help them advance their businesses and improve their lives.”
Pioneers in the world
The Foundation, created by BBVA in 2007, is a world pioneer in the use of the Oxford Multidimensional Poverty Index, which analyzes not only the income, but also the housing, education, health and digital access of entrepreneurs. This information is collected from nearly 4,000 advisors who visit businesses and homes in urban and rural areas or in remote places like the jungle, recording essential data to tailor products such as home loans, climate insurance or financial education.
Every piece of data is an opportunity to improve lives and create a future with greater well-being and progress for all
Carlos Torres Vila, president of the BBVA
Him streaming Today he explains in detail how this model allows us to observe the real evolution of families and guide decisions that affect their daily lives. According to the Performance Report 202428% of entrepreneurs escape poverty in the first year of operating in the foundation’s entities and last year their activities generated 158,000 jobs.
Three strategic lines
The broadcast includes concrete examples and real voices, demonstrating that data can improve lives, contribute to sustainability and help those who need it most get ahead.
In its almost 20 years of activity, the BBVAMF consolidates three strategic lines: Inclusion (financial, digital and social), Female Empowerment and Environmental Sustainability. Advance these roadmaps through digitalisation, social impact measurement and training. It is present in five Latin American countries: Colombia, Peru, Dominican Republic, Chile and Panama. Currently, its entities serve more than three million people.
