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Partner of the Week: Fundación Finsocial

Posted in Partner of The Week on May 18, 2021

Fundación Finsocial was established in 2018 as part of corporate social responsibility efforts by Finsocial SAS, a Colombian fintech company providing credit solutions to 22,000 customers in more than 30 cities across Colombia. They offer a wide portfolio of digital offerings focusing on serving public sector teachers, pensioners, independent workers and female entrepreneurs, and work to promote opportunities for financial inclusion and social innovation.   

Finsocial SAS created Fundación Finsocial with the aim of generating positive impact beyond their economic offerings, working to transform lives through social inclusion and support for vulnerable groups from remote parts of the country. Their mission is to help improve the quality of life for boys, girls, young people, female heads of families and seniors by providing them with comprehensive tools for economic and social empowerment, spreading financial education, social inclusion, employment, and sustainability to reduce poverty. To achieve this, they implement different programmes that generate tools for the development and training of socially and financially responsible people. 

 

Our Partnership 

Fundación Finsocial has been our partner since May 2020, and are currently implementing Aflateen and Aflatot in the regions of Barranquilla and Atlantico through their ‘Save and Always’ (‘Ahorra y Siempre’) programme, which uses the character ‘Monedita’ to teach social and financial education. 

 

“Save and Always”- Financial and Social Learning for Life 

The objective of the ‘Ahorra y Siempre’ programme is to empower and motivate children and young people to design and execute business ideas and social campaign projects, exercising their financial and social skills, creativity and independence. The programme delivers more than 30 lessons targeted at children and young people, incorporating recreational and pedagogical activities building capacities in self-awareness, gender equality, social and financial skills, entrepreneurship, communication and social skills.  

Recognising students as individuals with different needs and learning speeds, the programme teachers through recreational activities based on their interests and abilities, learning methods, and teamwork. One of the ways they do this, particularly for their programmes aimed at younger children, is through the ‘Monedita’ character encourages and incentivises the students through song and pastoral support.   

"We want to give continuity to the programme, we see the connection of children with Monedita, they want to be superheroes of the planet to take care of their city." — Monsignor Victor Tamayo teacher (Beneficiary School)

The programme currently runs in 2 streams: 

‘Save and Always’- Monsignor Victor Tamayo Centre 

This programme is implemented at a care centre for vulnerable children and youth between the ages of 9 and 18, most of whom have been victims of exploitation, child labour, and sexual abuse. Since December 2020, Fundación Finsocial has been delivering the Aflateen curricula to 90 students and 30 educators. 
 

‘Save and Always’- Early Childhood 

This programme, targeting 600 early childhood students aged 2-6 years, is implemented at 6 different Child Development Centers. Each has a capacity of 100 young boys and girls, influencing around 1000 per centre once taking into account parents, community caregivers, and teachers. This programme stream focuses on creating a sense of belonging through positive reinforcement by ‘Monedita’, and teaches basic concepts from the Aflatot curriculum on caring for the environment, self-love, and financial skills. Teachers have already seen the impacts, with students showing recognition of the value of money, increased awareness and responsibility to save water, and practices of saving money in their piggy banks. 

"I save water so that it does not run out on the planet and to be able to give the plants so they can live." — Aflatot Student 

Ahorra y Siempre’ is an initiative championing education as a valuable tool to mitigate increasing poverty and school drop outs, problems that, with the COVID-19 pandemic, have become increasingly complex. With Colombia amongst the countries with the lowest percentages of financial education (Standard & Poor’s Global FinLit survey), Fundación Finsocial recognises the importance of developing such a programme to empower children, young people, teachers, and parents from vulnerable part of society to not only educate themselves financially, but also develop the social and personal social skills to break the cycles of poverty.  

Watch their submission to our Partners Resilience Challenge here: 

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