Financial training, key to promoting women entrepreneurs: Citibanamex

The lack of financial education is one of the main problems faced by Mexican entrepreneurs, which is why Citibanamex relaunched Enterprising womanan initiative that promotes female entrepreneurship.

“We are adding more and better benefits, based on what we receive from women. The main one is the accompaniment in financial educationwhich comes to attack that feeling of fear that we often have to launch ourselves into doing things, because we don’t know everything,” Itza Morales, director of the SME segment at Citibanamex, detailed in an interview.

The new offer extends the benefits and preferential conditions in education and health products and services. Now, entrepreneurs can access a financial diagnosis and personalized advice to help them know the best time to apply for financing and grow their business.

“It is an offer that is adapted to the specific need, for example, we have a credit offer, but not all of them need it”, advice is also provided on the administration and management of the business and an insurance offer that meets the needs of the company and wellness: wellness, fitness, transportation, business and home consulting.

“There is no hiringjust by being a Citibanamex client you have the complete offer at your disposal and you can make use of the services and products you need when you need it”.

Among the benefits is access to Agovest, a financial platform for education and Doctor Anytime, an application with psychologists, nutritionists and general practitioners for health care of company employees, as well as a preferential rate in iAcepta and EVO Click from EVO Payments to accept card payments at all times.

Impact one year after launch

Morales recalled that the initiative was launched a year ago and in this time 650 credits have been granted to female entrepreneurs, adding 750,000 million pesos in SME loans and impacted 91,137 women.

In addition, during the last two months they have been granted 30% more credits and 4,000 CBNX Mujer Emprendedora Protected SME insurance with specialized assistance for women.

Morales specified the importance of financial education, “we women, what we do not know and do not master scares us, as we are such perfectionists and want to know and master everything, many times we do not dare, that is why the financial advice is one of the most important needs“, accurate.

For example, when it comes to investing, women are conservative, because they do not know investment strategies in detail and tend to invest less than men.

He explained that during the pandemic innovation and digitization They were key to the permanence of business. “We saw businesses looking for the support they needed to stay open, in some that involved resources and funding, in others facilities to continue selling, have an online page and offer various channels (…) Innovation and digitization were important” Morales concluded.