Like in many parts of the developing world, digital transformation is beginning to make its mark on banks across Latin America. Smartphone and internet use rates continue to grow at an impressive rate; consumers are becoming increasingly digitally savvy; and yet large proportions of the population still don’t have access to basic financial services – it’s a time of great opportunity for the industry and banks are embracing digital to broaden their reach and serve those that they haven’t been able to previously.
In this Regional Review we hear from banks across the region about some of the key challenges they face and why they are prioritising digital transformation and instilling a spirit of innovation across their organisations. We find out how they are taking advantage of technology to create and deliver products and services that optimise their business operations and fulfil their customers’ expectations.
This publication includes interviews and insights from more than 20 of the banking industry’s most pioneering leaders in the region. Together, they provide a fascinating outlook into some of the main factors that are driving their decision-making, the initiatives that they are pursuing to grow thanks to new digital strategies and how they are preparing for the future.
We also find out more about some of the most exciting innovations in the region, with case studies shedding light on developments around mobile payments and wallets, digital banking services, the increasing role of fintechs, and much more.
Keywords : Bank Products & Services , Operational excellence/Cost efficiency , Business strategy/Model