India’s journey is one of incredible transformation, where centuries-old traditions meet cutting-edge technology. Growing up here and navigating my career in the dynamic payments industry, I've seen firsthand how deeply rooted values and a drive for progress coexist in every corner of our country. This blend of heritage and innovation has fueled a digital revolution that is reshaping how Indians interact with the world: the rise of the Unified Payments Interface (UPI) is our big example of it.

As someone who has spent years in the payments sector, I've observed how UPI has done more than just simplify transactions; it has become a force for change in India. It’s not just a technological advancement; it’s a catalyst for change in every sense. By 2023, UPI was facilitating over 9 billion transactions per month, revolutionizing the way businesses and consumers engage with financial services. What resonates with me most is how UPI has empowered millions of Indians: over 350 million people in India have access to digital payments because of UPI. This isn’t just about numbers; it’s about the profound impact on lives, creating opportunities for a lot of people who did not have access to formal banking systems,  to participate fully in our economy and shaping the future of our nation.


Another significant initiative in India is the national digital ID system, which not only solved the country's identity challenges but also laid the foundation for tackling financial inclusion by enabling the creation of digital accounts, card ownership, and ultimately, digital payments. 


Back in 2011, with only 35% of India's adult population holding a financial account, the JanDhan program was launched to address this gap, facilitating access to account and card ownership while ensuring adherence to KYC (Know Your Customer) guidelines through Aadhaar. Each digital ID was linked to a bank account, providing access to a RuPay debit card—a government-led card scheme now used by over 300 million people and widely accepted by both offline and online merchants—with official data showing that over 500 million bank accounts have been opened through this program.


Access, in India, means more than just connectivity, it’s a doorway to possibilities, whether for small businesses aspiring to global reach or individuals striving for a better life. For me, leading EBANX’s efforts in India is not just a professional role—it’s a mission to ensure that the benefits of our digital revolution reach every corner of our diverse country. We are committed to this journey, knowing that each step forward is a step toward a more inclusive and empowered India, where everyone, regardless of gender or background, has the opportunity to thrive.

Rashmi Satpute
Country Director of India

4.1 Diversity, equity
and inclusion at EBANX

To cultivate a truly diverse, healthy and welcoming environment where everyone feels safe to express their opinions and be themselves, EBANX has implemented a Diversity and Inclusion Policy, overseen by the People department.


One of its main tools is the annual census, which encourages ebankers to self-identify. The initiative allows EBANX to analyze the representation of different profiles within the company and plan actions to improve diversity and inclusion.

83%

In 2023, 83% engagement: greater participation in the census, with results more aligned with internal realities.

EBANX conducted an internal campaign to encourage participation in the census. Despite not reaching the target of 95% adherence set in the last cycle, the result was considered extremely successful and will be used as a basis for structuring the new goals related to ebankers’ self-identification. 

EBANX’s Demography

(GRI 405-1)

  • Reduction in unanswered or “prefer not to say” responses: results closer to the reality of ebankers.


  • Increase the number of ebankers over 50 years of age: age diversity and appreciation of experience.


  • Increased participation of all ethnic groups, with the consequent reduction of white and Caucasian people: racial diversity and a more plural environment.


  • Growth in all gender identity categories: greater engagement and representation. In this case, the increase in cisgender men reflects their greater participation in the census rather than growth in the group.

4.2 Gender
Equity

At EBANX, gender equity is a priority, particularly in the traditionally male-dominated technology sector. The company has implemented initiatives to promote diversity and combat gender inequality, with a focus on achieving pay equity and increasing the representation of women at all levels, especially in leadership positions.


In the global context, according to UN Women¹, women occupy 28.2% of leadership positions, while in Brazil, the index is 40.04%. In Latin America, less than 20% of positions in technology companies are held by women; in Brazil, according to CAGED², women represent just 12.3% of jobs in the sector. 

47.5% of ebankers
are women

A slight decrease compared to 2022, but still above the market average.

41.6% of leadership positions are held by women

Exceeding the global target, although the internal target of 45% has not yet been reached.

Last year, there was a notable increase in the number of women in leadership positions, including directors and managers. This reflects EBANX's commitment to enhancing diversity and strengthening women's roles in strategic decision-making. These improvements result from internal initiatives aimed at ensuring ongoing progress toward long-term objectives, with a renewed emphasis on results and innovation.


However, the changes also resulted in declines in the number of women in specialist and professional/operational positions. Although challenges persist, by 2024, these differences are already being revisited, in an ongoing process that seeks to promote the constant engagement of the entire company cycle after cycle.

¹Source: UN Women ²Source: Agência Brasil

Female empowerment

EBANX strives not only to increase the number of women in leadership positions, but also to create spaces for their continuous development. Womentoring, a central part of this strategy, is a mentoring program that connects female leaders with other ebankers, offering an exclusive space for women to discuss the challenges they face in the labor market and create action plans to accelerate their careers.


In 2023, the program was expanded to include both collective mentoring and individual sessions, as well as open meetings for all ebankers. This expansion reflects the company's commitment to developing and fostering connections among women.

“It was a very rich exchange, especially in the group sessions, where I was able to learn about other realities and see that, as women, we faced very similar challenges. Womentoring is a safe space for us to be vulnerable, where we can discuss our challenges and learn to deal with them more assertively. For me, it was a key differential in my professional development. The program also allows us to better understand our perspectives and challenges, and to use the tools that EBANX offers to reach our goals. I think it's a concrete way to address gender inequality. Womentoring shows that EBANX cares about giving voice to the structural weaknesses that we still face as women and about strengthening ebankers through connection and career development,”

Cassiana Joly Dafferner
Operations Manager at EBANX,
participated in Womentoring in 2023 as a mentee

The program’s impact extends beyond measurable results, such as participation and satisfaction resulting from the strengthening of the female community in the company and the empowerment of women to achieve their career goals. In 2024, Cassiana will continue her involvement in the program, now as a mentor to ebankers at the beginning of their journey.  


EBANX also fosters inclusive discussion spaces through initiatives such as Connecting Women, an exclusive channel on Slack - an instant communication platform - where women can share information about internal programs and discuss personal issues in a safe and welcoming environment.

Equal pay

(GRI 405-2)

In Brazil, women earn on average 20% less than men, according to the Brazilian Institute of Geography and Statistics (IBGE) and the Ministry of Labor, with the gap widening to 27% in leadership positions. At EBANX, equal pay is a core component of the company’s Diversity and Inclusion Policy, ensuring that all ebankers have the opportunity to reach their full potential. The commitment is to ensure fair wages regardless of gender, strengthening an equitable culture.


The company establishes specific compensation ranges for each country, level, and area of work. The salary position of each employee within these ranges, which can range from 80% to 120%, is called “placement in the range.” This indicator shows how the employee is positioned at their respective level.


The following table displays the median salary of ebankers, categorized by level and gender. The goal for 2023 was to eliminate these pay disparities entirely. This goal was largely achieved, with significant progress noted, particularly in leadership positions.

More details about EBANX’s compensation processes can be found in the ebankers chapter.

One of the ESG commitments determined for 2023 was to develop specific indicators and procedures for monitoring and reintegrating ebankers after their return from maternity leave. However, this initiative was not implemented last year, as EBANX redirected its efforts to other personnel management priorities. The commitment will be reviewed in the next cycle to ensure that the necessary support is offered.

4.3 Developing
Diversities

(GRI 412-2)

The company is committed to building an inclusive culture that mirrors society and embraces different voices. To this end, EBANX undertakes concrete initiatives to promote diversity and combat gender inequality. These include creating dedicated positions and vacancies, as well as internal and community development programs, such as the exclusive internship for women and Black individuals, and the Códigos do Amanhã Program (see more in Giving Back to Society).


The promotion of diversity and inclusion is directly linked to EBANX’s culture of ethics and compliance. Employees undergo training on human rights, anti- harassment, and workplace ethics, ensuring that diversity practices are aligned with the highest standards of integrity and corporate responsibility.

In 2023, the company dedicated 12.3 hours to training on human rights-related topics:  


  • Diversity Talks: One Step Closer to Equity 

  • Diversity Talks: Racial Literacy 

  • Harassment prevention

  • Unconscious biases 

  • Diversity 

In addition, through the Diversity Academy, a program within the EBANX Academy platform, the company offers educational content, awareness campaigns, and courses focused on diversity and inclusion, such as racial literacy, inclusive leadership, and EBANX Talks, with themes such as trans belonging, empowerment, and Afrofuturism.

Affirmative action

The company also carries out job searches with exclusive vacancies for people with disabilities, Black people, and leadership roles reserved for women, which are essential for reaching its established goals. 

33.8%

Among the hires in 2023, 33.8% were from diverse backgrounds.

EBANX also invests in empowering its leaders to ensure that recruitment and selection processes prioritize diversity. These trainings address issues such as unconscious biases and inclusive recruitment strategies, ensuring that managers hire diverse talent that brings unique perspectives to the work environment and is aligned with the company's values.

40.6%

In the past year, 40.6% of the hires of people belonging to minority groups were placed in non-affirmative roles. This reflects the positive impact of leadership engagement and EBANX's continued commitment to diversity, equity, and inclusion.

Internship program 

Since 2021, EBANX has hosted an affirmative action internship program aimed at Black people and women, tackling significant challenges by increasing the representation of two minority groups in key areas. In 2023, the program became completely affirmative for Black people, with half of the positions reserved for women.

In 2023:

522

applications

35

Black people

50%

women

Among the interns, two were selected from the Códigos do Amanhã Program, further extending the impact of the EBANX internship program beyond the organization and directly contributing to community development. Learn more at Giving Back to Society.


With its two-year cycles, the program goes beyond diversity, focusing on developing young talent. Interns participate in a comprehensive development track that includes training in topics such as diversity, business knowledge, organizational structure, and soft skills. During the program, interns work on strategic business-related projects that culminate in a final presentation to a senior leadership panel, with an opportunity to earn an award.


Among the 51 participants who joined the company in the 2021 cycle, which included programs for women in tech and Black people, 14 interns remain at EBANX as of the closing of this report. They work in areas such as Marketing, People, Procurement, Commercial, Operations, Product, Payment Operations, Corporate IT, Information Security, and Compliance. 


The next edition of the program is scheduled for 2025, with the format to be defined according to the ongoing review of the sustainability strategy.

Young Apprentice 

The EBANX Young Apprentice program, launched in 2017, is aimed at socially vulnerable young people and offers transformative opportunities for those seeking to start their careers in a challenging environment such as technology. In partnership with Unilehu, the program combines initial learning paths with practical training in hard and soft skills, ensuring the rapid and effective development of critical professional competencies.


EBANX reserves program vacancies for public school students or private school scholarship holders in Curitiba and the surrounding region, broadening access and creating genuine opportunities for young talents. The program also helps shift participants' perspectives on the job market by enabling them to develop skills in various areas.

In 2023, seven young apprentices joined the company.

“I joined the EBANX Young Apprentice program in 2022 seeking to expand my professional repertoire. I was super happy when I was accepted, but at the beginning, it was difficult to adapt, because it was a very different business environment from what I was used to. Eventually, I found myself on the Prevention-Chargeback Fraud team. The support I received in the program helped me build trust and improve communication, and I realized that my capacity for growth was connected to the environment and the people around me. Doing the program at EBANX is truly a learning experience, where we learn not only about the job, but also about how to live with other people and get to know each other better.”

Ariane Santos
EBANX Apprentice

Commitments and
results 2021-2023¹

Among the ESG commitments EBANX set for the 2021-2023 cycle, diversity emerged as a major focus, with the largest number of goals dedicated to fostering a positive impact both within the company and on society.


The results achieved and the ongoing challenges reinforce EBANX's commitment to sustainable development and lay the foundation for the 2024-2026 cycle. In this period, following a strategic review of sustainability,new goals and strategic focuses will be defined and implemented with the same seriousness and dedication.

Achieved

25%

of Black and brown (pardo) ebankers by 2023

✓ ACHIEVED AND EXCEEDED - 26.6%

60%

of the projects supported by EBANX have a diverse leadership

✓ ACHIEVED AND EXCEEDED - 70.3%

30%

of suppliers² have at least one woman or Black person among their leaders

✓ ACHIEVED AND EXCEEDED - 55.1%

1 woman

on the Board in 2021

✓ ACHIEVED IN 2021

despite the fact that the professional is no longer a member of the Board in 2024

Young Talent Tech

for female developers

✓ ACHIEVED

Young Talent Business 2021

for young Black professionals

✓ ACHIEVED

Dedicated Young Apprentice Program

for public school students

✓ ACHIEVED

Challenges

45%

of leadership positions held by women by 2023

41.6%

1%

1% of transgender people by 2023: 0.68%

0.68% 

5%

5% of people with disabilities by 2023³

2.01%

The last two commitments were directly impacted by the change in EBANX's structure over the past three years and will be reviewed for the next cycle.


Despite the actions and programs implemented, EBANX acknowledges that building a culture of inclusion and valuing diversity is an ongoing process. The company is aware of the challenges and has improved diversity and inclusion practices, with the goal of making its initiatives more effective and better aligned with its mission to promote access, expand connections and create real opportunities for all.

¹Note: Diversity commitment indicators refer to the end of 2023.

²Note: Indicator takes into account third-party data recommended by Global Risk & Compliance with invoice issue.

³Note: This report considers a global approach, that is, all EBANX entities.

Empowering SocietyStart reading now