Commemorating this fight on international women’s month, Scotiabank has been taking action to raise awareness and eliminate the huge Peruvian wage gap; 29.6, the highest in Latin America.

Addressing this subject in our society is not easy, it's a great motivation to fight against this kind of issues. Even though our initiatives have been successful, the wage gap is hard to eliminate and is still there.

Our main objectives were:

- Filling our female clients wage gap in comparison of what their male counterpart receives for doing the same jobs.

- Giving Scotiabank a high impact idea that drives conversation from people, media and other big companies, in order to maximize problem awareness.

- Make a clear statement and action to eliminate the wage gap between men and women.

Gender Gaps are hidden all around our country, but wage gap is the most complex to address inside the Peruvian male chauvinist society.

Scotiabank, in order to fight disparities have been working for several years ideas that take direct action to fight the higher wage gap in Latin America.

Gender Gaps, and specifically the wage gap between men and women, is a prove that our governments have been putting gender policies as one of the last priorities.

The evidence is within thousands of companies that employ millions of women who do not receive a fair salary for doing the same work as a man.

After launching the campaign, we not only take action to eliminate and drive conversation to this issue, but we also collaborate to promote the law that prohibits wage discrimination between men and women by The National Superintendence of Labor Inspection (SUNAFIL).

Bank on Equality is an idea that levels the wage gap between men and women with a banking product that really shows it: Payroll Accounts. To do this, we developed a unique algorithm that compares all of our female client's salaries with that of a male counterpart, recognizing critical variables such as age, occupation, education, and geographic location. This allowed us to know the specific wage difference for every one of our female clients. In turn, Scotiabank would automatically fill that specific salary gap for each of our clients with the banks' own currency: ScotiaPoints, a digital currency that customers use as real money to purchase products and experiences. So, on international women's month we surprised every new single female client who opened a payroll account with a fair salary.

After a deep desk research and data collection, we came to the conclusion that there is one time of the month where this evidence: every 15th or every end of the month when women receive their salaries is the key moment when the 29.6% of gap is put in the spotlight, this gave us light to understand what we needed to do.

Our main audience is working women in Perú, the same ones who do not receive a fair salary for carrying out the same professional activities as male workers.

On international women's month we surprised every new single female client who opened a payroll account with a fair salary. We communicated our initiative on social media, and invited women all around the country to open their payroll accounts with us. In return we pledged to eliminate the gender wage gap automatically filling that specific salary gap for each of our clients with the banks' own currency: ScotiaPoints, a digital currency that customers use as real money to purchase products and experiences.

We made a direct impact on Peruvian female chauvinist society, stating out clearly our position on a main social issue such as the wage gap between men and women in Peru. Our female clients did not only participate in this initiative, but also shared it on their social media, increasing the digital reach.

Scotiabank generated over $5,000,000 in press coverage. Even the Center for Global Development commented on our initiative. This led to a 20% growth of new accounts.

Dozens of local companies joined this initiative by implementing regulations within their companies to eliminate the wage gap among their workforces.

In addition, The National Superintendence of Labor Inspection (SUNAFIL) finally placed a law that prohibits wage discrimination between men and women.