Education

Financial Literacy And Cultural Empowerment At Heart Of Mario Lopez And Broxel Effort


Financial literacy in schools is often informally discussed as essential and relevant to every student wishing to succeed after graduation. Yet, the statistics on those students receiving classroom curriculum on finance remains extremely low. According to recent data from the nonprofit Next Gen Personal Finance, only one out of five students in the U.S. receive instruction in a personal finance class before graduating high school. Cutting into the low percentages are indicators that minority and low-income students are even less likely to take a course in the subject, according to Inc.’s article on the perks of financial literacy training.

As reported by The Standard’s and Poor’s Global Financial Literacy Survey, a lack of financial literacy in schools soon carries over to a global lack of financial literacy in adults globally. Without the understanding of basic financial concepts, the ill-informed are less equipped to make financial management, saving, borrowing, credit usage, and even digital banking decisions. For those within the states that need to send money to relatives across the border to meet basic needs, financial understanding and services gain even more significance.

Taking the Initiative

The Latin American FinTech company, Broxel, led by founder Gustavo Gutiérrez has recently taken the financial initiative, producing a platform that provides financially easy-to-manage remittance payments, integral to the Mexican economy. Partnering with well-known actor and host Mario Lopez, the message is getting out on the platform that offers free processes with additional cutting-edge functionalities.

Mario Lopez’s talent is in his ability to represent a voice for the masses. He does so from a platform steeped in his Mexican American heritage. He’s taking the accumulated brand affinity and applying it to real-world financial challenges that have impacted his community for decades.

Flipping historically impactful challenges into present-day opportunities, securing financial independence, and cultural inclusion is at the core of Lopez’s current efforts. His work with Broxel is helping the Mexican American community in the U.S. send money more efficiently to those south of the border at zero cost.

Remittances are essential for the Mexican economy. During the heart of the pandemic, immigrants sent nearly $40 billion to relatives in Mexico, with numbers climbing to $51 billion by the end of 2021. Founder of Broxel, Gustavo Gutiérrez explains, “Technology is erasing borders. The idea of having free remittances is an economic disruption for the North American region and a game-changer for millions of potential users. Remittances are used for essential needs such as health care, paying for food, or having a place to live, and this initiative is the best way to thank the epic, daily effort of the Mexican community in the U.S.”

When Broxel approached Mario Lopez to communicate the platform, he jumped at the idea of being an active voice and ambassador. The Latino community is accustomed to paying high fees for the money sent. “Broxel Pay makes a huge impact financially by saving people money by taking away fees,” he says.

Shaped by Early Beginnings

Lopez likes how the Broxel Pay app is a borderless solution that is helping people save money. His commitment to hard work and saving money started at the age of 10 when he broke into the entertainment industry out of San Diego.

“I’m a child of immigrants, my parents are from Mexico, and they instilled a solid work ethic. They were blue-collar folks, my dad worked for the city, and my mom worked for the phone company. I was a border town kid in Chula Vista. I used to see Tijuana from my yard, and I loved it. I wouldn’t change a thing. It’s like I had a foot in both worlds,” says Lopez.

He continues, “I consider myself very much American. But at the same time, part of my culture is very Latino. I think those two worlds can coexist and represent what America is about. I love everything about America and my culture, but it doesn’t necessarily mean I have to hit you over the head with a tortilla to tell you about it. I think there’s a way to represent your community and be a good role model.”

Heritage is interwoven in the relationship between Broxel’s founder Gutiérrez and Lopez. When asked why Mario Lopez is the voice of Broxel, Gutiérrez peered into the camera tilting his head, saying, “Why not?” Intimating Lopez’s transcending personality among neighboring cultures.

Entrepreneurism and Branding

Lopez believes that entrepreneurism should be based on passion because it will consume your time and energy. He feels the younger generation is uniquely positioned to enter entrepreneurial efforts today more than ever. Even his 11-year-old daughter has launched an Etsy business, bringing him pride as a father. Creating your own brand is something that he learned early in his career.

“Early on, I worked with Dick Clark, who took me under his wing and got me thinking about myself as a brand. He said, ‘Mario, you should focus more on hosting because not only do you have the personality for it, you’re a natural host, and you could be on TV for the next 50 years.’ He mentioned how I could parlay my work into endorsements and sponsorships but emphasized the need to not stray from my brand.”

What’s my brand? I’m the five F’s: family, faith, fitness, food, and fun. That’s the brand’s umbrella, and my culture is a big part of that too. Being a host, whether it’s my nationally syndicated radio show, Access Daily, or Access Hollywood, places me I’m on TV every day. I try to be a friendly, comfortable place for people to tune into and not be divisive. I never talk politics or religion, even though I’m a man of faith. I’m in the people business.”


The financial sector has notoriously been branded as the great differentiator between the haves and the have-nots. However, with increased awareness and financial literacy inside education, the inequities may have a starting place to shrink the divide.

In addition to the efforts in formal learning, individuals connected to the cultures most in need will remain lynchpins to a remedy. With Lopez, through Gutiérrez and Broxel, there is now a platform to turn the financial experiences of Mexican Americans into inclusive opportunities steeped in dignity and community.

Interviews have been edited and condensed for clarity.



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