Friday, 24 November 2023 04:32

The future of banking: focus on sustainability and digital transformation

Written by Editorial staff
The future of banking: focus on sustainability and digital transformation Courtesy

Grupo Promerica, through its executive director and chief business officer, Ramiro Ortiz Gurdián, participated in the conference entitled Financial Perspectives of Banking in the Region for 2024, an event held as part of the celebration of the 16th anniversary of El Economista Magazine, in El Salvador.

In the current global scenario, characterized by a complex intersection of financial, social and political factors, the challenges are multiplying with high interest rates, rising inflation, economic slowdown and various conflicts. In this context of uncertainty, banks assume the crucial role of restoring trust, considered the cornerstone for customer loyalty, according to Ortiz Gurdian.

The event also featured the participation of prominent industry leaders, including Aimeé Sentmat de Grimaldo, executive president of Banistmo; Guillermo Bueso, president of Grupo Atlántida, and Pedro del Valle, Cluster Head for Citi Central America and the Caribbean, who shared their perspectives on the most relevant issues facing the banking industry in the region in the coming year.


Ortiz Gurdian stressed that the Covid-19 pandemic accelerated the technological transformation of banking, highlighting the need to adapt to a changing work environment. In this new paradigm, the key lies in thoroughly understanding customers' needs and anticipating their requirements, this detailed understanding being a crucial element for business success.

Aware of the current reality, Ortiz Gurdian emphasized that banking must direct its efforts towards digital transformation and sustainability. In this regard, he said that sustainability goes beyond ecology, encompassing economic development, social investment and environmental viability, principles that have been an integral part of Grupo Promerica's working culture for more than a decade.

In a pioneering move, three Grupo Promerica banks have issued sustainable bonds, and a fourth country is expected to follow suit. In addition, the Group actively supports women-led SMEs, embraces the principles of female empowerment, and is a signatory to the Net Zero Alliance agreements.


Regarding digital transformation, he said that it goes beyond digitizing existing processes, requiring the construction of new processes from scratch using tools accessible in the cloud. He said that digitization does not require large investments, as there are specific options that allow renting services, democratizing access to digital transformation.

He warned about the technological disparity between markets and the importance of offering banking services in a differentiated way in this context. "The winners in this era will be those who digitize their operations and business models", said Ortiz Gurdian.

In conclusion, Ortiz Gurdian reaffirmed Grupo Promerica's founding vision: to put the customer at the center, foster the growth of SMEs and help them overcome their limits.





Translated by: A.M