Over the years, Women’s Day has reflected the achievements of each time. For the 2019’s celebration, like any other big brand committed to inclusion and equity, Santander Bank has asked us for a campaign totally aligned to today’s narratives. But when we search for it, we realized that women didn’t want a campaign at all. They wanted more opportunities, more job, equal payment, respect.

In Brazil, women have fewer financial opportunities than men.

An even more serious situation in a country where women are the majority of the population and the main providers in about 40% of households, despite of earning in average 34% less than men (Brazilian Institute of Geography and Statistics, 2019).

Women entrepreneurs also open more businesses than men, their businesses are 21% more likely to perform above average, and they honor financial commitments better (McKinsey, 2019).

But historically, women get less credit approval from banks (data from client). Which, considering all above numbers, exposes the prejudice against women in the financial sector.

In addition, around 40% of the work force in Brazil comes from informal work; and almost 25% of Brazilian women are in poverty (Brazilian Institute of Geography and Statistics).

By crossing these statistics, we reached the insight of women microentrepreneurs, who could benefit from a unique credit program.

Instead of ads, we created a product.

A new line of credit for microentrepreneurs using our entire media budget: US$250 million.

With the lowest interest rates in history: 15%.

Launched exclusively for one kind of entrepreneur: women.

The first of its kind in a country where women are the majority of the population, start more businesses than men, and honor their financial commitments also better (McKinsey, 2019), but still get less credit from banks and earn 32% less than men.

Since all our budget was transformed in funds to offer credit for women, we accessed the hard data that Santander already had available of their 25 million clients and other millions of potential clients.

Then, we chose to focus on the almost 25% of Brazilian women who earn less than US$85 a month. Becoming not only an innovative financial product that addresses gender inequality, but also an important tool for social transformation.

By crossing global data of gender (women) and location (low-income areas), we targeted this group of women microentrepreneurs with simple text messages, besides an internal communication at Santander’s branches.

The bank trained its staff on how to approach these women once they get in touch with Santander. For instance, while banks are used to asking about their husband’s job or income, in the Santander Ela program, we would be interested in the woman payment historic only. This way, all the process could be inclusive and respectful, and women could feel empowered.

Santander also invited big leaders – all women – of the country’s economy to talk about our subject in a series of debates streamed Live on YouTube. From the CEO of Brazil’s biggest ecommerce or the CEO of Goldman Sachs Brazil, to the CFO of the Brazilian Development Bank and the CFO of the Brazilian Petro Company.

100,000 women joined Santander Ela on the launch day only.

35% weren’t Santander clients until then – and became new clients of the bank.

All funds available were lent out within a week.

More than doubled the average number of women borrowing from the bank – from 20% to 44%.

A big coverage from both the specialized and the general media.

Finally, we got the attention of The World Bank also, who asked to become a partner – expanding the project for the following year.