Despite economic difficulties in the region, Latin American banks are still very profitable and, increasingly, they are looking to update their digital offerings. This is the ideal time to launch a digital-only bank as momentum is building around digital channels in the region, partly on the back of growth in the Latin American e-commerce sector.
There is, however, a dominant conviction that given the option, customers would still prefer to visit a branch and talk to a person, rather than make a payment using their phone. In an interview with the prestigious The Banker, German Pugliese Bassi, co-founder and CMO at Technisys, explained that “people want personal interaction unless they’re able to get a digital interaction that replicates that experience. (…) The customer cares about personal attention, not necessarily about getting that attention from a person at the branch.”
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