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Peru has the highest wage gap in Latin America; 29.6%.

Even tough Scotiabank has been implementing successful initiatives, the wage gap is still there. That is why we decided to eliminate it once and for all.

Bank on Equality is a banking initiative that levels the wage difference between men and women. To do this we developed an unique algorithm that compares all of our female client's salaries with that of a male counterpart, recognizing critical variables such as age, occupation, education, and geographic location. This allowed us to know the specific wage difference for every one of our female clients. In turn, Scotia Bank would automatically fill that salary gap with the banks' own currency: Scotia Points, a digital currency that customers use as real money to purchase products and experiences. So on international women's month we surprise every new single female client who opened a pay roll account with a fair salary.

As a direct result, Scotiabank generated over $5,000,000 in press coverage. Even the Center for Global Development commented on our initiative. This led to a 20% growth of new accounts.
In addition The National Superintendence of Labor Inspection (SUNAFIL) finally placed a law that prohibits wage discrimination between men and women.