Aimée Suarez, Senior Adviser at WSBI-ESBG presents latest developments in policies fostering innovation and financial technology
Experts from banking, FinTech and startups industries gathered on 21st March in São Paulo, Brazil, for the sixth edition of WSBI Innovation Workshop. The workshop themed Customer Engagement, Data & Partnerships – How to get the most out of new technologies let participants from the Latin American region deep dive into customer engagement and discussed the role of banks, startups and regulators in making successful collaborations.
The first WSBI Innovation Workshop in the region was hosted in São Paulo, home of a highly active financial sector which is the biggest in the Latin American and Caribbean region. Brazil also ranks as the largest FinTech hub of Latin America, after the birth of over 188 new start-ups active in FinTech in the past months. Innovation in banking and the FinTech ecosystem in Brazil is driven by strong growth in the segments of Digital Banking, Trading and Capital Markets, Loans and Insurance.
The workshop started with the opening speech by Diego Prieto, GRULAC Chairman and President of Banco Caja Social (Colombia), who stressed the importance of innovation for savings banks: “As never before, the new information and communication technologies, work flows and ecosystems are revolutionizing many industries, and ours is no exception. However, the most interesting part of this workshop is not the means, but their role in the ultimate goal of savings banks: throughout our history we have preserved the essence of our social mission, providing quality financial services that effectively contribute to the development of our clients."
After the scene setting by Natalie Staniewicz, Innovation & Business Development Manager at WSBI-ESBG, the workshop continued with the presentation by Rafael Rodrigues, Investments Director at Banco Inter, who presented the digital journey of leveraging innovation and data in order to improve customer experience.
José Flavio Pereira, Founder of Nuveo Digital Transformation Specialists, presented his experience of fostering successful collaboration between banks and FinTech to remain customer centric.
Aimée Suarez, Senior Adviser, International and Institutional Relations at WSBI-ESBG and the moderator of the Workshop, discussed the theme of the event from a regulatory point of view. Participants were introduced to recent developments and perspectives in policies and regulation fostering innovation and financial technology.
Javier Mas, Head of Marketing at CaixaBank, shared CaixaBank's journey of transforming the customer experience and presented the case of Imagin Bank, the first mobile-only bank in Spain.
The case of Banco Original, the first bank in Brazil to have fully digital account opening process, was presented by Paulo Bissacot, IT Governance Superintendent. He also discussed how putting customer centricity at the core of the business leads to successful customer engagement.
Each WSBI Innovation workshop aims not only to bring interesting speakers and present relevant cases, but also to involve participants to actively share their experience and discuss workshop topics.
During the breakout sessions in São Paulo participants were suggested to discuss in groups one of the four themes:
Bank – Startup Collaboration, facilitated by Ernesto Pacheco, Financial Manager of Fedecrédito (El Salvador)
Bank – Bank Collaboration, facilitated Joan Rosas, Director Relations with International Institutions at CaixaBank (Spain)
How to develop better customer engagement? Facilitated by Albert Morales , VP Product Management at Strands (Spain)
Regulatory: How can Policy foster Innovation? Facilitated by Joseph Delhaye, Senior Vice President and Head Legal at BCEE (Luxembourg)
The last part of the workshop focused on digital onboarding and authentication with panellists Paulo Felipe Oliveira Antonio from Banco Original , Marcus Vinicius de Carvalho from the Brazilian Securities Exchange Commission and Joseph Delhaye from BCEE.
After a round of conclusions that each participant shared with the others, the programme continued with a study visit to the Innovabra habitat, a co-location space created by Bradesco bank and dedicated to the generation of business based on the technologies that transform the world of today. During the study visit participants heard more about how Bradesco fosters collaboration and innovation with this project and what benefits it brings to all the stakeholders.
WSBI sees innovation as a crucial ingredient to help its members thrive in the 21st century. As an international banking association that brings together savings and retail banks located on all continents, innovation and digitalisation can help foster closer customer relationships and better services while in the long term increasing financial inclusion and boosting sustainable, modern finance.
WSBI helps members by fostering exchange of experience and success stories through activities like the São Paulo workshop. That exchange includes efforts to facilitate knowledge sharing among members, with FinTech companies and other strategic frontrunners through exchanges of information and experience at all levels within the organisation as well as in-house knowledge management.
Backed by some 6,000 financial institutions with total assets of US$16.7 trillion and serving more than 1.3 billion customers in some 80 countries worldwide, WSBI voices the concerns of savings and retail banks through advocacy, representing the interests of its members towards international policy makers and standard setters on the main regulatory and other issues that shape international retail banking policy.
The next WSBI Innovation Workshop will take place on 26 June 2019 and will be hosted in Prague, Czech Republic. For more information about innovation workshops hosted by WSBI, email: firstname.lastname@example.org .
>> See full programme of the WSBI Innovation workshop
>> Watch the recording of the workshop