Scotiabank wanted to level the wage gap that exists between men and women, which in Peru is almost 30% – one of the highest rates in Latin America.
Our Work
Bank on Equality
An initiative that levels the gender wage gap.
Challenge
Inspiration
Scotiabank has made a dedicated commitment to addressing issues of gender equality.
Idea
Surprising their female clients who opened an account, each female Scotiabank customer received an additional 29.6% – equivalent to the gender pay gap – in Scotia Points currency, points that can be used as real money to buy products.
To determine this additional salary, the bank developed an algorithm to compare female salaries with those of males, considering variables such as age, occupation, education and geographic location.
Growth
Bank on Equality helped female bank customers receive an equitable salary and launched the campaign on International Women’s Day.
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