The growth of the Fintech world in Mexico will force banks in Mexico to keep up and create a customer-friendly experience, with low levels of tension, where people are empowered, said the president of the Association of Banks of Mexico (ABM), Daniel Becker Feldma.
During his participation in the Forbes Economy and Business Forum 2021, the representative of the sector pointed out that more than a competition, this financial technology company complements the industry and encourages them to put “the batteries” to be on par with all the experience of user.
“We were already immersed in this digital world, the crisis accelerated the intention and the obligation to generate more products and services through digital devices, tablets, cell phones, from any digital device; also as a third element you have this competition that Fintech companies are doing, which has been a very important revolution ”.
Read: Digital acceleration is here to stay: Mastercard
Becker Feldma commented that this will lead banking in the medium term to a greater importance of digital media, so “the big question is what will happen to brick and mortar”, that is, the more than 12,000 branches and paper that they will have.
“We are going to see a combination forward, where the user experience is going to become fundamental and the Fintech world is going to force banks to be at the height of creating a customer experience, friendly enough, with low levels of tension. , with a lot of transparency ”.
In this sense, the president of the ABM said that this forces traditional banking to understand that it is necessary to empower users, since the decision-making power through the digital world will be held by users and not banks.
“I think that whoever does not understand that is going to put their business model at risk, this requires a different mentality of thought from the one we had, it already came before the pandemic, for the pandemic it simply confirms that the world has already changed and it probably never returns to normal. and that the digital world is not only a matter of penetration, it is a matter of service of experience and empowerment ”.
However, the sector representative said that in this new environment it is also important to have regulatory symmetry.
Subscribe to Forbes Mexico