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Silver Solutions

Apply for the call for proposals until January 31, 2024 !

Benefits for program participants

General benefits

  • Access to an innovative network focused on serving a growing market segment.
  • Visibility of the solutions among stakeholders in the silver finance ecosystem, the financial system, and other stakeholders such as funders, philanthropists, experts, and the government.

For financial intermediaries

  • To position yourself as an inclusive institution by making older customers visible.
  • Improving “customer experience” for older adults.

For social innovators and leaders in aging topics

  • To develop and implement an idea or expand an existing solution to other regions.
  • To access financial resources to make your project a reality.

Bases of the Call for Proposals

  • The proposed solutions may range from minimum viable products (MVPs) to proven solutions with the purpose of expanding their scope or solution that will be implemented for the first time in the Caribbean.
  • The development and implementation of the solution must not exceed 18 months, during which the solution must achieve the goals defined in the work plan, previously agreed upon with the German Sparkassenstiftung team.

Key areas of interest

The proposed solutions must fall within one or more of the following thematic areas:

Adaptation of financial products and services
e.g., reverse mortgage, sale of bare property, credit for entrepreneurship.
Adaptation of channels
To accommodate people with hearing, visual or motor disabilities, more prevalent in the elderly population.
Skills development
Such as the acquisition of financial and digital capabilities by the elderly population.
Digital solutions
Focused on security, protection against potential fraud or situations of financial abuse.
Other innovative models
Focused on meeting the needs of the population over 60 years of age.
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Who can participate?

Financial intermediaries in Latin America and the Caribbean

Banks, microfinance institutions, savings institutions, cooperatives, financial technology companies (fintechs), insurance companies or pension funds.

Social innovators and leaders in aging

Specialized start-ups, foundations, think tanks, civil society organizations, business and banking associations, philanthropic entities and other public and private sector actors that promote the financial inclusion of people over 60.

What kind of solution proposals are we expecting?

We expect two implementation paths:

Collaborative proposals

Projects between social innovators or leaders in aging who have a defined financial partner.
" If you have a solution and whom to implement it with (financial institution)”

Those who already have an existing relationship with an FI and are looking to expand the solution:
• with previously existing relation
• with potential relation

Individual proposals

This path will link the social agent with a financial intermediary or financial technology company (Fintech) for the implementation of the solution.
– "If you have a solution and no one to implement it with, we will help you find an implementation partner”

Funding

• Access to financial resources of up to US$ 65,000 per solution.
• The amount per solution will be determined on the basis of a work plan agreed upon with the German Sparkassenstiftung and the IDB Lab.

• Each selected solution must mobilize a similar amount of financial resources to those received as counterpart funds. In cash (e.g., resources for payment of incremental project activities) or in kind (e.g., recognition of expenses incurred in the solution´s budget).

On submitting the proposals

Social innovators and leaders in aging

To submit your proposed silver solution, you must complete this form:

Register here

Financial intermediaries

Complete this form if you would like to implement a silver solution in your institution

Register here
  • In this form, you will be able to attach a document with your proposal, which must include at least:
  • Brief description of the proposer or proposing organization
  • Description of the solution and expected benefits
  • Alignment with thematic areas
  • General work plan (identifying activities, implementation timeframe, and expected outputs)
  • Implementation budget
  • Progress metrics
  • Impact metrics
  • Target number of beneficiaries
  • Track record of the team or organization proposing the solution

Pre-selection Criteria

For a solution to be pre-selected, it must meet at least one of the following criteria:

I. Focus on digitalization, either through the acquisition of digital skills by older adults or through the adaptation of digital channels to the needs of vulnerable groups within the older population, e.g., women or people with disabilities, etc.

II. Scalability of solutions, through commitments at the financial intermediaries´ highest management level, avoiding the creation of niche products that may limit their wide use.

III. Focus on the population of vulnerable older adults, considering people that do not have social security income and depend on self-employment, or seasonal, part-time or temporary work.

IV. Incorporation of innovations and best practices of non-regional countries of the Inter-American Development Bank, such as Japan and Spain, which have made progress in this area.

V. Demonstration of commitment to the project, by committing a higher cash counterpart contribution with respect to the total cost of implementation.

VI. Cross-cutting criteria. Priority will be given to projects with specific strategies to include unserved or underserved populations in the solution, especially low-income and vulnerable populations, micro or small business entrepreneurs, and women.

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Once the proposal is pre-selected, it will go through a final selection process conducted by a Selection Committee appointed for this purpose, whose decision will be final

The Committee will focus on the following aspects:

Relevance and importance

Sufficiency

Congruence

Viability and feasibility

Impact

Program duration

• The maximum implementation timeframe for each solution should not exceed 18 months .
• The timeframe will be determined considering the work plan agreed with the German Sparkassenstiftung and the established metrics.

Key dates

07.12.2023

Call for proposals
07.12.2023

31.01.2024

Closing date
31.01.2024

Feb 2024

Co – creación
Feb 2024

29.02.24

Pre-selection of solutions
29.02.24

31.03.24

Final selection
31.03.24

Apr 2024

Results’ communication and subprojects’ kick-off
Apr 2024

Apr 2024 onwards

Projects implementation
Apr 2024 onwards

Participating countries

• The "Silver Solutions Program" will be open for implementation in all Latin American and Caribbean countries benefiting from IDB resources.
In the case of the Caribbean, a call for proposals will be launched in English in 2024. However, English-speaking countries will also be able to submit their proposals in this call.

Submit your innovative idea or solution here

REGISTER HERE

Submit your innovative idea or solution here

Silver Solution Application
Financial Institutions Application

FAQ

Banks, microfinance institutions, savings cooperatives, financial technology companies (Fintechs) and other entities that provide financial services including insurance companies or pension funds; as well as social innovators and leaders in the field of aging such as specialized start-ups, foundations, think tanks, civil society organizations, business and banking associations, philanthropic entities and other public and private actors that promote the financial inclusion of people over 60 can participate.

El programa de “Soluciones Plateadas” estará abierto para implementar en todos los países de América Latina y el Caribe beneficiarios de recursos BID

a) The following are eligible to participate innovations from the supply side can participate such as:

  • Adaptaciones de productos: por ejemplo: claves y transacciones diferenciadas para él o la titular mayor de 60 de una cuenta y para sus cuidadores.
  • Development of services such as reverse mortgages and credit products that recognize work experience as a risk mitigator.
  • Adaptations to communication or transaction channels for people over 60, for example: adaptations for people with hearing, visual or mobility disabilities.

 

b) Innovations that address the demand side, such as innovations that enable:

  • The development of digital capabilities and skills de la población mayor a 60
  • Solutions and programs to prevent extortion and financial fraud.

 

c) As well as other innovative models that meet the needs of the population over 60 years of age.

 

Priority will be given to innovations that facilitate the inclusion of the unserved or underserved population, as well as the low-income and vulnerable population, micro or small business entrepreneurs, women and those aimed at people with disabilities.

All types of proposals and solutions aimed at improving financial services and products for people over 60 can participate, including those aimed at established entrepreneurs over 60.

Si pueden participar, en este proyecto trabajaremos para vincularles con un actor de innovación social que tenga una propuesta para mejorar los productos y servicios dirigidos a las personas mayores de 60, para ello llevaremos a cabo sesiones de co-creación (reuniones informativas, de presentación y emparejamiento).

Si pueden participar las propuestas colaborativas ya existentes, principalmente si cumplen el criterio de escalabilidad es decir que no tengan limitaciones para su transversalización.

The selected initiatives will be eligible to receive a maximum of US$65,000 with at least an equal amount of counterpart resources.

Las Instituciones Financieras y/o Innovadores Sociales podrán presentar sus propuestas hasta el 31 de enero del 2024. Durante el mes de febrero del 2024 realizaremos sesiones de co-creación para emparejar a las Instituciones Financieras con un innovador social y de esta manera realizar una preselección de iniciativas. El 31 de marzo realizaremos la selección final y la implementación se realizará a partir de abril del 2024. El tiempo máximo de implementación no deberá exceder 18 meses.

Completar el formulario electrónico y adjuntar un documento que describa tu propuesta la cual debe contener: Breve descripción del proponente o empresa, descripción de la iniciativa y beneficios esperados, alienación con ejes temáticos, plan de trabajo general, presupuesto de implementación, métricas de medición y avance, meta de número de beneficiarios y trayectoria del equipo/empresa proponente

Answer the questions on the form https://finanzasplateadas.dsik.la/en/iniciativas/convocatoria-soluciones-plateadas/ and do not forget to attach a document with your proposal.