Gaston Vega Vallejo, CEO and Co-Founder, Avanzo

From a sobering reality to a catalyst for change, Gaston Vega Vallejo’s journey reflects a relentless pursuit of financial inclusion and empowerment in Latin America. As the CEO and Co-Founder of Avanzo, the leading financial well-being platform in the region, Gaston stands at the forefront, transforming the financial landscape for millions.

Bridging the Gap: Addressing a Critical Need

Fueled by a mission to bridge the gap faced by 85% of Latin Americans who struggle to meet basic needs with incomes below two minimum salaries, Gaston and his team at Avanzo identified a critical need. Traditional banking systems often fail to reach this segment of the population, leaving them vulnerable to predatory lending practices and the burden of financial stress. This stark reality ignited the spark for Avanzo – a revolutionary platform designed specifically for individuals with recurring income.

“We financially include millions of Latin Americans through close tools for workers with recurring income,” says Gaston, highlighting Avanzo’s dedication to serving the underserved. “It is thanks to this system that in 4 years we have helped over 150,000 people reduce their financial stress.”

Empowering Individuals, Transforming Lives

Breaking the mould, Avanzo offers user-friendly tools catered to this specific demographic, empowering them to manage their finances effectively. This focus transcends mere access to credit and delves deeper, fostering financial literacy through educational workshops, tips, and resources. This holistic approach, spearheaded by Gaston, equips individuals with the knowledge they need to make informed financial decisions, enabling them to break free from the cycle of debt and achieve long-term financial stability.

“Financial inclusion is not just about access to credit; it’s about empowering individuals with the tools and knowledge to thrive,” emphasizes Gaston, underlining Avanzo’s commitment to financial education alongside access to financial services.

The impact of Avanzo’s work is undeniable. In just four years, under Gaston’s leadership, the platform has:

• Empowered over 150,000 individuals to manage their finances effectively, alleviating the weight of financial stress and fostering peace of mind.
• Supported 156 companies by integrating financial well-being programs as a benefit, leading to a 20% increase in employee productivity, according to a Mercer study. This not only benefits the employees but also translates to significant gains for companies through reduced absenteeism and higher engagement.
• Prevented 10,000 individuals from resorting to predatory lending practices, offering them a safe and sustainable alternative to exploitative debt cycles.
• Educated over 100,000 individuals on financial literacy, equipping them with the knowledge and skills necessary to make informed financial decisions and build a secure future.

A Ripple Effect of Prosperity: Beyond Individual Success

However, Gaston’s vision extends far beyond individual success stories. He envisions a ripple effect of prosperity throughout Latin America, where financial well-being becomes a societal priority. Avanzo actively combats predatory lending practices that trap individuals in a cycle of debt and exploitation. They advocate for comprehensive financial well-being programs that go beyond immediate assistance, offering long-term solutions and fostering financial resilience.

“With financial well-being programs that guarantee two things: opportunity, speed and coverage to help people cover their emergencies and financial education, we can help combat this scourge, improve the quality of life of employees and increase the productivity of companies at the same time,” explains Gaston, outlining Avanzo’s two-pronged approach to tackling financial hardship.

Beyond his role at Avanzo, Gaston’s leadership stands as a beacon of hope in a landscape where few prioritize financial well-being. He actively engages with policymakers and industry leaders, advocating for systemic change and setting new standards for corporate responsibility. His unwavering commitment inspires others to join the movement, paving the way for a more inclusive and prosperous Latin America.

Gaston Vega Vallejo’s legacy transcends individual achievements. He is a pioneer, a champion of financial inclusion, and a builder of a brighter future for millions of individuals across Latin America. His relentless pursuit of financial empowerment continues to drive positive change, creating a ripple effect that resonates throughout the region.