Vicente Fenoll

Ashoka Fellow
Fellow Since 2014


This profile was prepared when Vicente Fenoll was elected to the Ashoka Fellowship in 2014.
The New Idea
Vicente Fenoll used his more than 20 years as a leader in the financial sector to design and implement a novel model to change the way banks work in Mexico, addressing the issue of high interest rates and a lack of transparency and financial education. Kubo makes financial services an important tool for social and economic development in the country. The Kubo model takes advantage of technology to eliminate the need for an intermediary, thus diminishing operation costs and interest rates, and increasing transparency and user trust. Additionally, Kubo utilizes information from users and the bureau of credit to design products that directly respond to the needs of clients and rigorously selects its portfolio, diminishing default rates and non-payments, and increasing return for savers.

Vicente´s model emphasizes the importance of financial education as a key to social development, and addresses this need through an educational component, using social media to reach thousands of persons in the country. Kubo integrates this social mission and educational content in all its process, from board to clients. Kubo´s process helps rejected users and clients understand what their faults have been in their credit history and provides tips on how they can solve them.

With Kubo, Vicente seeks to create economic citizens with the belief the people should have access to goods and services that allow them to increase their economic and social development efficiently and freely. The financial system is a critical element for this development; however, its scope is not enough, and the current prices actually impoverish clients. Kubo proposes a new model that allows the efficient dissemination of services. The Kubo model does not end in its operation. Through macro-influence, continual participation in policymaking, and other strategies to impact the sector, the organization seeks to create a “banking ethic” where the end-user actively participates.
The Problem
The Strategy
The Person

More For You