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July 13, 2022
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In Colombia there is good technology applied in banking, according to NTT Data

In Colombia there is good technology applied in banking, according to NTT Data

Although the digital technology applied to the banking sector has advanced in the world in a special way during the pandemic, in the case of Latin America Colombia is one of the countries with successful models to show, since it has reached a good level of maturation.

(Also: ‘Big data’ steps on the accelerator of the digitization of the public sector).

This was stated by Ricardo Ruiz, head of Colombia digital architecture at NTT Data, in the framework of the launch of the book Digital Platforms in Financial Entities in Latin America, in which successful cases of digital banking architecture in Argentina, Brazil, Chile, Colombia, Mexico and Peru.

The book reviews the digital advances of six Colombian banks: Banco de Bogotá, Banco de Occidente, Banco Popular, Bancolombia, BBVA, Itaú and the administrator of pension and severance pay, Porvenir.

Ruiz said that in the case of Colombia there is an important level of maturity, although in each of the themes there are strengths in all countries.

He pointed out that there are advances in activities such as the open bankingg, modernization of systems, blockchain technology and crypto assets, among others.

There are countries with different values ​​in one and another activity and “in Colombia there is a good complement in general and there are certain entities that are very advanced in their participation in blockchain and crypto, others in digital channels and others capable of offering services in record time.”

Thus, it went from having processes that took days or weeks in the pre-pandemic and now in the post-pandemic many processes take hours or minutes, says the NTT Data manager.

In addition, it considered that in general terms the companies of the Colombian financial system have enabled new channels and they went from having to depend on branches to having digital channels enabled, because in processes in which it was believed that verifying the identity of clients directly was vital, now there are ways to digitally validate identity. And in that sense, the geographical barriers and the lack of infrastructure in remote or remote regions have been solved with satellite connections and access to more powerful technology that allows digital interaction between the client and the entity, Ricardo Ruiz assures.

(Read: Starlink, what is it and in which countries does it work).

As a result of the demand of the banks to generate aa customer-focused strategy, digital architectures and platforms have become essential, as they allow the business to compose digital products and services, designing differential experiences that imply greater efficiency, which generates competitive advantages, which is what NTT Data does, indicates Ruiz.

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