Grupo Financiero Santander México Launches "Tuiio" A Financial Inclusion Program For Low Income Individuals
16 Oct, 2017, 17:34 ET
MEXICO CITY, Oct. 16, 2017 /PRNewswire/ -- Grupo Financiero Santander México, S.A.B. de C.V. (BMV: SANMEX; NYSE: BSMX) ("Santander México" or the "Group") announces the launch of "Tuiio" a financial inclusion program for low income individuals, which aims to have a measurable social impact through a competitive and comprehensive micro lending offer.
The launch was led by Ms. Ana Botín, Executive Chairman of Banco Santander S.A. (Santander México's parent company) and Mr. Héctor Grisi Checa, CEO of Santander México.
"Tuiio", which will have its own operating model, infrastructure and brand, is a robust financial inclusion program that will leverage technology to support the needs of Mexico's low-income segment. It aims to generate measurable social impact through productive micro-lending, a digital savings account, its own branch network, staff, ATMs, point-of-sale terminals and electronic banking.
The initiative will include a financial education program for clients, with the purpose of maximizing their skills and developing their employment potential.
Executive Chairman of Banco Santander S.A,. Ms. Ana Botín noted: "Tuiio is an initiative that aims to improve people's lives and promote broader economic development. Beyond improving an individual's situation, well-realized financial inclusion initiatives can have significant macroeconomic effects on productivity and growth."
Mr. Héctor Grisi emphasized that "Tuiio" will be significant for the bank in Mexico. He noted: "We developed Tuiio with the purpose of creating an allied institution for the people, one that speaks to them in a clear fashion and meets their needs with the best products and accessible tools. All this is underpinned by the security, knowledge and support of Santander, a top-tier bank with international reach."
By the end of the year, Tuiio is expected to have 10 offices and 160 employees in Estado de México. Within three years, Tuiio is expected to have 130 branches and a presence in several states throughout Mexico.
About Grupo Financiero Santander México
Grupo Financiero Santander México, S.A.B. de C.V. (Santander México), one of Mexico's leading financial services holding companies, provides a wide range of financial and related services, including retail and commercial banking, securities brokerage, financial advisory and other related investment activities. Santander México offers a multichannel financial services platform focused on mid- to high-income individuals and small- to medium-sized enterprises, while also providing integrated financial services to larger multinational companies in Mexico. As of June 30th, 2017, Santander México had total assets of Ps.1,209 billion under Mexican Banking GAAP and more than 14.3 million customers. Headquartered in Mexico City, the Company operates 1,075 branches and 324 offices nationwide and has a total of 17,209 employees.
SOURCE Grupo Financiero Santander Mexico, S.A.B. de C.V.
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