The evolution of the financial industry towards digital solutions translates into models that are at risk of losing relevance and are being quickly replaced by more efficient and innovative alternatives, as it happened in other industries in recent years.
There’s no doubt that every Financial Institution (FI), regardless of size or target market, must face a comprehensive digital transformation. The definition of an adequate digital strategy is crucial to face the challenges that lie ahead in the short, medium and long term.
It is with this in mind that FELABAN (The Latin American Federation of Banks) signs a regional agreement with FINCONECTA, to carry out a program aimed to support Latin American financial institutions in their digital transformation. Finnova LATAM provides the structure and technology to achieve radical change both in business and strategic positioning in order to successfully face and embrace current and future challenges.
The program is developed and executed by FinConecta with the support of FELABAN with the purpose to accelerate the digital transformation in the region.
Finnova LATAM is a modular program with a duration of six months, culminating with a presentation at the 53rd Annual Assembly of FELABAN, to take place on November 2 to 5, 2019 at the Diplomat Hotel in Hollywood, Florida.
The Secretary General of FELABAN, Giorgio Trettenero, stated that "this program is developed in three independent components: digital acceleration, comprehensive strategy plan, and education and training. The digital acceleration module will allow financial institutions to accelerate their transformation in 5 steps: evaluation of the current situation of the institution, search and selection of third party solutions, testing (Sandbox), Integration and launch of the product ".
During the signing of this agreement, Jorge Ruíz, President and Chief Executive Officer of FinConecta, stated that "It is a pleasure to work hand in hand with FELABAN and offer an efficient model for Latin American FIs to turn their institutions into digital businesses, preparing for the client’s current and future needs in times of accelerated changes where digitization is the center of any company's strategy ".
The executives of the two entities invite all the financial institutions of the region to participate in this program, which is already available for enrollment.
Additional information and registration for the program can be found at https://finnovalatam.felaban.com/
The Latin American Federation of Banks was created in 1965 in the city of Mar del Plata, Argentina, groups, through their respective banking associations, more than 620 banks and financial entities from 19 countries in Latin America. Through its conventions, contests, and international training programs, FELABAN has contributed to the dissemination of financial education to improve the offer of comprehensive services to an increasingly informed consumer prepared to make sound financial decisions.
FinConecta specializes in the acceleration and digital transformation of financial institutions in Latin America, Africa, the Middle East, Europe, and the United States. FinConecta introduces a holistic approach, offering technology and digital strategy solutions to support financial institutions in each of the stages of their digital transformation process. FinConecta is a global company with capital from the Inter-American Development Bank (IDB), the Venture City (private equity fund) and private investors.