Scotiabank wanted to break down the wage gap that exists between men and women. In Peru, this difference is almost 30%, one of the highest rates in Latin America.
Bank on Equality
An initiative that levels the gender wage gap.
Scotiabank is committed to gender equality and has made a dedicated commitment to addressing the issue.
Scotiabank surprised their female clients who opened a salary account. Each female customer received an additional salary of 29.6%, equivalent to the gender pay gap, with the bank's Scotia Points currency, bonus points that can be used as real money to buy products. To determine this additional salary, the bank developed an algorithm that compares clients' salaries with that of a man, considering variables such as age, occupation, education, and geographic location.
Bank on Equality helped female bank customers receive an equitable salary that launched on International Women’s Day.