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Grupo Bancolombia

Sustainability

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Our Strategy

We want to contribute to our client’s lives (individuals, families, and companies), building a value proposition suitable for those segments the financial sector has not served. Our strategy seeks to achieve client growth for those with their first financial experience, improving it with a user-friendly proposal, achieving geographic expansion, providing financial education to bring it closer to our client’s lives, and fostering social growth as a responsibility for the whole country.

Financial Inclusion - Savings at Hand

  • Personal accident insurance

  • Credit at hand: Innovation in financial inclusion

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Challenges for Our Strategy

    • icon-stock-exchange
    • Profitable program growth

    • icon-savings
    • Financial education

    • icon-bus
    • Rural sector leading changes

    • icon-line-of-people
    • New competitors

    • icon-cash
    • Cash reduction

    • icon-variations
    • Rethinking business

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Our Products History

In our sustainability procedures, it is also important that we fully know our clients and that their principles are aligned with ours.

2022

  • Mobile operator balance recharge service through App A la mano.

  • QR code was implemented as a payment method by Wompi.

  • Recognition to Bancolombia among the Inspiring Companies 2022 list by the Andi Foundation, USAID, Acdi/Voca, Portafolio, and FSG for contributing to reducing socio-economic gaps and generating social impact through the A la mano App.

  • Civic card recharge using NFC technology in cell phones, without the need to go through balance reader machine

2020

  • Savings with meaning:  Savings Pockets on Hand and housing.

  • Mobile payments: cmerchants and prepaid services.

  • Crédito a la mano: CSMS 2.0 Loan Edition.

  • Credit portfolio for MSMEs: lleasing and social networks.

  • Multichannel domestic and international (in-out) (in-out) transfers.

2018

  • Bancolombia and USAID teamed up to increase small values.
  • National multichannel transfers: 22,895 transfers.

  • 1,114,936 Ahorro a la mano accounts.
  • 11,666 correspondent banks.
  • 22,411 people benefited from low-interest loans.
     

2017

  • Bancolombia obtains the Inter-American Award for Financial and Business Innovation.
  • 770,000 Ahorro a la mano accounts.
  • 8600 people benefited from Crédito a la mano.
  • 9400 correspondent banks.
  • 21% growth in remittances.
     

2016

  • 10 years as a pioneer in Correspondent Banking.
  • Correspondent banking as one of the sales channels for financial inclusion products.
  • 43% of the Market share in international remittances.
  • 5500 “A la mano” savings.
  • First 100% digital low-cost loan in Colombia.
  • New organizational structure for financial inclusion.
     

2015

  • In-depth knowledge of microentrepreneurs.
  • Regional inclusion.
  • Taxi drivers: Key community.
  • 6000 correspondent banks.
  • Light network correspondent banking.
  • Bancolombia A la Mano application.
  • Moneygram

2014

  • Corresponding banking model.
  • Accident insurance.
  • “We are Bancolombia”.
  • Hispania: rural ecosystem.

2013 - 2006

  • Correspondent Banking.
  • My house with remittances (remittances).
  • Inclusion programs management.
  • Savings on hand (ALM).
  • Hospital Insurance.
  • Savings accounts for Colombians abroad (CA) .

2004 - 2003

  • Family remittances and itinerant advisors.
  • Bancolombia My Business.
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This is what we have learned about financial inclusion in our history, thus, becoming the basis for building our golden rules:

  • The holistic view of the inclusion environment ensures that both those at home and abroad are included.
  • The interests of our customers come first, otherwise unreliability would increase.
  • Finance education is key.
  • Inclusion must also take into account new technologies and innovation.
  • New entrants are welcome, but competition must be regulated for the benefit of the customer.
  • The maximum rates for financing prevent the greater inclusion of assets.
  • Taxes on the use of money in the financial system promote the culture of illegal money.
  • Public-private engagement is essential for real and efficient progress.
  • Partnerships are key to efficiency and flexibility.
  • Communities are essential to ensure sustainable growth: credit alone does not respond to customer needs.

Regulatory Framework

Throughout our experience, we have abided by the laws that regulate financial institutions:

  • In 2015, the Intersectoral Commission for Financial Inclusion was created through Decree 2338.
  • In 2014, the law on Financial Inclusion: Law 1735 of October 21, 2014. • In 2014, the Small Amount Credit was created through Decree 2654 of 2014 and Law 1731 of 2014 introduced to reactivate financing for the Agricultural Sector.
  • 2012 The Correspondent Banking Services Regulation develops: 1. Introduction of Decree 2672 of 2012 and Notice 029 of the financial supervisory body, Superfinanciera. 2. Then, the External Notice of the Financial Superintendence issued a notice on marketing products and services through the Internet.
  • 2010: The Supervision began to regulate the Simplified Process.
  • 2008: Electronic Savings Accounts were created with Decree 4590
  • 2006: Introduction of Decree 1133 of 2006 that assists Banking Correspondents.
  • 2000: Started with "microcredit" Law 590 of 2000, through which the special microfinancing methodology of "Microcredit" is recognized and which has the support of the Commission for Micro, Small and Medium Enterprises of the Superior Council of Microenterprises that regulates the payment of commissions.
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Our Products Report

Financial Inclusion Commitment

See here icon-document

Financial Inclusion Products & Services

See here icon-document

Financial Inclusion - Non-Financial Support

See here icon-document
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Indicators

These figures prove that bringing profitable financial solutions to the people and places that need them most is indeed possible.

2021

App Bancolombia "A la mano"

     

    • App Deposit Number “A la mano”:  5,925,223
    • The number of active deposits of “A la mano App” is  3,481,443.
    • Average closing balance deposits of “A la mano” App  110,798
    • Total closing balance of “A la mano” App deposits  656,501,333.7
    • Number of “A la mano” App Affiliations:  1,332,372
    • Number of SIM affiliations:  498,278
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