Digital banking in Latin America could reach the level of USA
This is the conclusion of a study carried out by the Technisys company and the Stanford University, even though the region still faces a low rate of population penetration
According to a study by the consulting firm Technysis and Stanford University, digital banking in Latin America continues to grow and in a period of two years could reach the level of the United States and Europe.
Germán Pugliese, co-founder of Technisys (Miami, Florida), has indicated that the advances of the digital sector in the banks of Latin America face two challenges: “the limited access of citizens to the banking sector, located around 51%, according to data from the World Bank, and certain regulatory frameworks.”
The consultant and Stanford University studied the behavior and needs of 63 banks and financial institutions in the region. A large number of the consulted managers indicated as a negative aspect the low rate of access to banking. Pugliese, on the other hand, considered the issue as a challenge and a great opportunity to grow.
Among the aspects that have favored the increase of digital banking in Latin America are included the speed that offers to users, the security of both people and data, the democratization of the Internet, as well as financial inclusion.
Undoubtedly, the increase in the use of digital devices such as smartphones has also influenced the increase in access to digital banking for Latin Americans.
M.Pino
Source: Portafolio
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