The Banking Commitment to Rural Spain

The essence of banking service lies in offering opportunities for progress throughout all stages of the client’s life. The banking association CECA explains the prominent role of the banking sector as an irreplaceable lever for social, cultural, and economic development, especially for the most vulnerable groups. Demographic decline is a particularly rural phenomenon and especially intense in Spain. Over the last four decades, the country has experienced an economic and social revolution that has generated profound migratory movements from rural areas to large cities. However, Spain does not only face significant demographic challenges; it also confronts the challenge of the digital divide, referring to the difference in access and knowledge of the use of new technologies. Both demographic and technological challenges are having a significant impact on the provision of services of all kinds: health, pharmaceutical, educational, cultural, and also banking. This is a reality faced by the inhabitants of small municipalities in the interior of Spain, where the elderly population is among the potentially most affected. The Spanish banking system is not oblivious to this reality and therefore has the second most extensive branch network in the European Union (5 offices per 10,000 inhabitants), second only to France, with a presence in 97% of Spanish municipalities.The commitment of the banking sector In light of the existing needs in these territories, the “CECA entities” (CaixaBank, Kutxabank and Cajasur Banco, Abanca, Unicaja Banco, Ibercaja Banco, Caixa Ontinyent, Colonya Pollença and Cecabank) combine efforts of commitment to empty Spain and have had initiatives for years to guarantee access for the entire population to basic financial services, including cash withdrawal, direct debit of bills, or making deposits. The entities adhering to CECA have incorporated the intergenerational perspective into their work, as a large part of the population in these enclaves consists of elderly persons. For this reason, they provide specific training for managers to facilitate specialized treatment for the elderly, as well as preferential attention to groups facing greater difficulties in accessing their services, both in-person and through digital channels, enhancing their experience as clients. To face these demographic and technological challenges, it is necessary to have the commitment of different social actors. The banking sector combines efforts, demonstrating the importance of defining public-private collaboration frameworks for the recovery of economic and social well-being, with a special emphasis on various initiatives that improve financial inclusion in Spain.A significant effort in the rural sphere The inhabitants of the villages in the interior of Spain, especially the smaller ones, need to be able to access cash, have access to an ATM for simple transactions, and go to their credit institution office to carry out more complex procedures. Among the most notable initiatives that the entities adhering to CECA have launched to invigorate the rural environment are the ‘ofibuses’, a fleet of mobile offices that travel to 600 municipalities where there is no bank branch and serve 457,000 clients. Additionally, the entities have made other more innovative solutions available to clients so they can access cash when necessary. Notable mechanisms include cashback or cash-in-shop: users only need to go to the nearest supermarket or gas station and indicate the amount of cash they wish to receive, which they can pay for with a credit card along with their purchase. In this way, the CECA sector devises various measures, initiatives, and resources to ensure that the most isolated regions of Spain have banking services to advance their professional and personal goals.New intergenerational initiative To promote this set of specialized services, the CECA sector has launched the initiative “Banking through Generations,” aiming to highlight the measures that its member entities implement to ensure financial inclusion for all people, leaving no one behind, with special attention to the most disadvantaged and the senior population. The first video of the initiative addresses digitalization, services for the elderly, and customer service. Along with a grandfather and his granddaughter, who works in banking, it shows the evolution of the banking sector and its adaptation to the needs of different generations. Both characters share their experiences with various financial services, and despite the age difference, they manage to find common ground in their journeys. The goal of this educational action is to explain how banking services offer opportunities for progress throughout all stages of clients’ lives and to bring the public closer to the role of the banking sector as a lever for social, cultural, and economic development, especially dedicated to the most vulnerable groups.