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Carreño Manual for financial technologies


Emmanuel Got, executive director of Banco Sabadell in Mexico, shares the axes on which the digital transformation of banking must be based.

All activities in life should have ethical rules to follow, but in the case of financial digital solutions (whose use is still disconcerting for some people, which often causes mistrust in these types of tools) this aspect is fundamental.

Good practices in electronic banking are the only way for, payment after payment, transfer after transfer, electronic banking to gain ground in the levels of consumer confidence.

Emmanuel Got , Executive Director of Business Development at Banco Sabadell, talks about some rules that allow them to be close to digital customers and constantly evolve with them.

Question. Is there a decalogue or guide, let's say official, on good practices in financial technologies? 

Reply. There is a document called "Ten Pillars for Development", launched by the Mexican Bank Association in 2018, which covers measures necessary for the development of the country under a demanding and responsible regulatory environment. This decalogue works as a basis for the actions of all companies, without excepting banking institutions and digital banking.

Q. Since there is no specific document for these types of innovations, what would be the pillars on which good banking habits should be built in the digital age? 

R. The axes should focus on the protection of data and the identity of customers, healthy competition, raising education and financial transparency, commitment to the economy and the sector ...

These are for me some of the good practices to promote financial technologies, all based on the commitment that each institution has with its clients to offer them more and better banking solutions. 

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Q. It is not only a question then of a catalog of good manners, but of being really useful for the consumer ... 

R. Due to good banking practices it is important to consider those that promote responsible, diligent and respectful management with the user of financial services. This way of operating must apply without exception to all the products and services that we make available to the market, seeking to be in a customer centric model where the priority is to help the client solve a problem from an ethical and moral perspective.

Q. What are the biggest challenges for good digital practices? 

A. Currently the challenges are focused on achieving the banking and financial inclusion of the population, where 90% use cash (this has had changes derived from the pandemic) and 70% still do not have an account in a bank, under the pillars of good practices, that is, offering certainty in data security, increasing the clarity of processes and offering quality content to potential users so that they know the benefits that the sector can offer them.

Q. Mexico is a power in Latin America in terms of the development of financial technologies, is it also a power in matters of best practices in this sector?

R. Without a doubt, it is an issue that is being worked on and has advanced rapidly, but it is still necessary to establish principles in favor of the solidity of the sector, promoting a favorable environment for all participants and new players in the industry. 

Q. What are the risks of digital banking becoming dehumanized? 

R. Mainly the loss of trust, which is the basis of any relationship. In the case of banking, it does not matter if it is traditional or if we are talking about digital banking, if the client is not sure that his institution is looking after his interests, he will hardly trust them. That is the importance of always having the customer at the center. 

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One of the main tasks of banks with their clients is to provide an optimal service that encompasses excellence in their day-to-day operations, in addition to carrying out an accompaniment exercise where the client feels heard and supported without any type of friction.

Only in this way, from transparent and clear relationships, can bonds be formed between the institution and the users.

Source: elparis

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