Skip to main content
IDB, IDB Lab & Beat to Promote Voluntary Savings for App Drivers in the Region
  • Programs within the alliance include automatic savings plans and financial education 

The Inter-American Development Bank (IDB) along with its innovation lab, IDB Lab, and the mobility app Beat, are working together to promote and provide access to voluntary savings tools for driver users of the app. The initiative, which includes pilot programs in Colombia, Mexico, and Peru, is testing solutions to improve the financial situation of workers currently excluded from social protection benefits. These pilots derive from an alliance that took place in 2021 and are based on the results of a joint study about drivers’ preferences.  

Technological adoption, propelled by the social distancing measures imposed by the pandemic, and mobility apps such as Beat, have made it possible for many people to stay afloat and generate income in the last two years. Similarly, they have elicited new approaches to traditional social security systems for the access for those working under these new types of employment.  

In Colombia, the pilot promotes saving through Coink, a local fintech company that provides a digital platform to strengthen drivers' responsible spending and saving habits. The program will test an automatic savings plan that redirects a percentage of Beat Colombia drivers’ weekly earnings.  

In Mexico, driver users can participate in a savings program supported by the National Commission of the Retirement Savings System (Consar). The tool will allow them to make voluntary automatic contributions to their retirement funds accounts (AFORE accounts) in the short term. Additionally, with the support of the Mexican Association of Retirement Fund Administrators (AMAFORE), drivers will receive information about the use of other tools such as the AforeMóvil app through finance and social security workshops and trainings based on the Ahorra que Puedes (Save, you can do it) course. 

In Peru, the initiative will promote savings through Alcancía Virtual, a benefit included in the Interbank APP application that allows for simple, secure automatic savings. Moreover, drivers will have the chance to define saving categories for personal projects such as housing and studies and will be able to use the financial education platform Aprende más (Learn more). 

“We identified that Beat driver users not only possess a higher level of financial education and culture than their countries’ average, but they are also interested in saving for emergencies and doing it through services provided by their platform,” explained Laura Ripani, chief of the Labor Markets Division at the Inter-American Development Bank.  

“The interventions will provide us with valuable information in the design of bigger scale mechanisms to aid the saving habits of more workers in the region with similar challenges and characteristics to these drivers,” said Oliver Azuara, senior economist at IDB’s Labor Markets Division. 

José Treho Hebrero, regional director of Public Policy at Beat, said “from the beginning, we have generated solutions directed at the wellbeing of our communities. This alliance is a tool that we offer to our user drivers so they can access a future with more financial opportunities while they continue to enjoy the flexibility that comes with driving with Beat. We will carry on collaborating with the IDB and work on building synergies with other institutions for the benefit of the cities and communities where we operate,” 

About the IDB 

The Inter-American Development Bank is devoted to improving lives. Established in 1959, the IDB is a leading source of long-term financing for economic, social and institutional development in Latin America and the Caribbean. The IDB also conducts cutting-edge research and provides policy advice, technical assistance and training to public and private sector clients throughout the region. 

About IDB Lab 

IDB Lab is the innovation laboratory of the IDB Group, the main source of financing and knowledge for development, focused on improving lives in Latin America and the Caribbean (LAC). The purpose of IDB Lab is to drive innovation for inclusion in the region, mobilizing financing, knowledge, and connections to co-create solutions capable of transforming the lives of vulnerable populations due to economic, social, or environmental conditions. Since 1993, IDB Lab has approved more than $2 billion in projects developed in 26 LAC countries, including investments in more than 90 venture capital funds. 

About Beat 

Beat is a technology company founded in Greece in 2011. Its mission is to develop technology that enables safe and sustainable urban mobility. Beat offers app-based mobility solutions to connect riders with drivers in real time, 24/7. They want to transform the way people move around their cities and make them a better place to live. 
The company is part of the FREE NOW group, the joint commitment of BMW and Daimler to build the mobility of the future. Beat is currently available in Greece, Peru, Chile, Colombia, Mexico, Argentina, with plans to expand to more cities in Latin America, and has two Technological Innovation and Engineering Centers, one in the Netherlands and one in Mexico. For more information, visit   



Manzano Guillen, Maria De Gador

Manzano Guillen, Maria De Gador

Lobera,Jose Luis

Lobera,Jose Luis
External Contacts

Marian Urizar

Marian Urizar
Jump back to top