Pedro Pacheco Rodríguez, president of the Venezuelan Banking Association, highlighted that by 2025, the union “will continue to expand spaces for financial education and inclusion, promoting equity of female leadership in the banking sector”; as well as technological transformation, promoting and disseminating best sustainability practices (ESG)
In 2024 and within the framework of its 65 years, the Banking Association of Venezuela (ABV) reaffirmed its commitment to development and innovation in the country’s economic sector. The executive president of the ABV, Pedro Pacheco Rodríguez, highlighted that throughout the year events and activities were carried out in line with the purpose of the institution. “Promote trust and coopetition among interest groups to find solutions to the challenges of economic activity in general, and in particular the banking sector, for the benefit of a better society.”
Pacheco Rodríguez highlighted that by 2025, the banking union “will continue to expand spaces for financial education and inclusion, promotion of equity in female leadership in the banking sector”; as well as technological transformation, promote and disseminate the best sustainability practices (ESG), promote the strengthening of the prevention of money laundering, and strengthen relationships with all economic sectors, as indicated in a press release.
He also announced the celebration of the Second International Cybersecurity Congress for next May.
Among the activities of the ABV In 2024 the following stand out:
1.- Establishment of strategic axes and priorities 2024-2026.
In January 2024, the Board of Directors of the Association approved the strategic axes and priorities for the aforementioned years, as well as the redefinition and affirmation of its Purpose, mentioned above. Among the Strategic Axes are: Promote inclusion and financial education, Support technological transformation, Disseminate the best practices and standards of the banking sector, Promote a good customer experience, Promote a culture of innovation, Disclose and promote the Sustainable Development Goals (SDG), Promote and disseminate best practices in sustainability (ESG); and, Communicate and cooperate with authorities, supervisory, economic and union organizations.
2.- Forum Promoting equity in female leadership in the banking sector.
In March 2024, on the occasion of Women’s Month, several activities were promoted, including the aforementioned Forum, with the participation of more than 200 women, in which 22 of them, with more than 40 years of service in the banking sector. Likewise, recognition was granted to three journalists with extensive and outstanding work covering the economic source. The creation of the Laury de Cracco distinction was announced, in recognition of her invaluable contribution for more than 40 years to the consolidation of the Association. This recognition will be granted annually to a woman whose work and contributions to the economic area are outstanding.
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3.- I International Cybersecurity Congress “Creating Awareness and Awareness in Cybersecurity”.
In May 2024, the 1st International Cybersecurity Congress was held, bringing together national and international experts with more than 600 professionals from different sectors of the economy. Among the cybersecurity topics addressed in Congress are; global trends and challenges, the cloud and its impact on cybersecurity, challenges for the CISO (Chief Information Security Officer), innovation through the use of artificial intelligence, and cybersecurity in the era of big data.
4.- Campaign against phishing.
During the last quarter of 2024, public and private banks, together with the banking sector authorities, joined forces to promote the “Caution is your shield” campaign. Protect your peace of mind.” This initiative allowed the dissemination of recommendations through the use of various communication channels to prevent people from being victims of phishing or data fishing, as well as the implementation of online educational programs on the subject.
5.- Introductory Seminar for Capital Prevention “Committed to Comply”.
Among the objectives of this Seminar held in November 2024 was to raise awareness and train professionals from various organizations, especially obligated subjects in matters of prevention of money laundering, financing of terrorism and proliferation of weapons of mass destruction (LC/FT/ FPADM). This event had the support of ONCDOFT, benefiting more than 250 people, from different sectors, providing them with key instruments to face current challenges, promoting a solid regulatory compliance culture to address emerging risks, and promoting the use of technological tools such as artificial intelligence.
6.- 20 years of alliance between Fundana and the ABV.
The promotion of sustainable and environmentally conscious actions was also a fundamental pillar in 2024, in this sense the alliance with the Fundación Amigos del Niño que Ameritan Protección (Fundana) was reaffirmed, commemorating the 20 years of the construction and inauguration of Las Villas de los Chiquiticos, a project that was possible at the time thanks to the contribution of banks and that has represented a home for four thousand children. To celebrate the commemoration, private and public banks made contributions that will help maintain in operation in 2025, the aforementioned Villas, as well as the holding of the concert “Together We Change Destinies” with the participation of the Children Singers of Venezuela and the Juan José Landaeta Symphony Orchestra.
7.- Creation of the Environmental, Social and Governance Affairs Committee (ESG).
The Board of Directors of the Banking Association, convinced that the incorporation of Environmental, Social and Governance (ESG) factors in the management of assets and in the financial market results in more sustainable companies and better results for society, decided to create the aforementioned Committee , whose purpose is to promote, support and integrate sustainable and responsible practices in all operations carried out by the banking sector, ensuring that these actions contribute positively to the development of the country.
8.- Cooperation agreements with Universities.
Education and financial inclusion were central axes in 2024, for this reason meetings were established with the main universities, including; Central University of Venezuela (UCV), Andrés Bello Catholic University (UCAB), Monteávila University (UMA) and Metropolitan University (Unimet), to generate spaces for collaboration, training and professional development for young students, banking personnel and any interested citizen in strengthening their knowledge related to financial education and other transversal areas necessary for the development of the country.
9.- Monitoring and strengthening the work of the Committees.
During 2024, collaboration activities between banks continued to advance processes such as the implementation of contactless payment (contactless), user awareness for the protection of their data, greater financial inclusion, best practices in cybersecurity, among others. These processes are carried out through the 16 Committees formed and coordinated by the Association that include more than 250 professionals from the member banks, leaders of their respective areas, among others; Technology and innovation, Human Management, Treasury, Cybersecurity, Legal, Compliance Officers, Risk, Marketing and Communications, Credits, Comptrollership and Security.
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