Banco Del Pacífico Embraces Gamer Accounts as Innovative Loan Collateral
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Loading... - Mikhail Petrov
- 05 Aug 2024
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Gamer loan, a groundbreaking financial service by Banco del Pacífico in collaboration with Paradais DDB Ecuador, aims to revolutionize loan accessibility for young people by recognizing the value of their gaming accounts. This initiative marks a significant departure from traditional loan requirements and opens new avenues for financial inclusion.
Bridging the Loan Accessibility Gap
Traditionally, securing a loan required high-value assets like cars or property, which many young Ecuadorians cannot provide due to soaring asset prices. Statistics reveal that eight out of 10 young Ecuadorians fall short of these requirements. Recognizing this gap, Banco del Pacífico has launched Gamer loan, an innovative solution designed to empower financially young entrepreneurs by using their gaming accounts as collateral.
The Untapped Potential of Gaming
Despite small businesses accounting for 90% of the business economy and young people contributing 28.8%, only 13% of this demographic can access bank loans. Gaming, however, is a prevalent activity among young Ecuadorians, with one in three owning a gaming account and 65% identifying as gamers. These accounts, whose value continues to appreciate over time, represent untapped financial potential.
Andres Mesias, marketing communications manager at Banco del Pacífico, highlighted the significance of this initiative, stating, “Finding a model that creates long-term sustainable impact, benefiting both business growth and a significant portion of our community, is a rare occurrence and we are proactively opening this opportunity in the market.”
Innovative Banking Solutions
Banco del Pacífico's commitment to innovation is further exemplified by initiatives like "The Senior Economy," which enables elderly individuals, often excluded from Ecuador's workforce, to monetize their expertise by serving as consultants to small businesses. This initiative underscores the bank's dedication to fostering financial inclusion across different demographics.
Gamer Loan is set to unlock opportunities in a market largely overlooked by traditional banking institutions. By recognizing gaming accounts as viable collateral, Banco del Pacífico is not only empowering young gamers but also integrating them into the financial ecosystem in an innovative manner.
This inclusive approach ensures that young people, who form a significant part of the gaming community, can now access loans and other financial services, thereby fostering entrepreneurship and economic growth.
As the gaming industry continues to grow and evolve, initiatives like Gamer Loan will play a crucial role in bridging the gap between traditional financial services and the digital economy, paving the way for a more inclusive and innovative financial future.
