Experts Highlight the Role of AI and Financial Education in Building a Safer, Personalized, and Trustworthy Banking System
Digitalization of banking services has transformed financial offerings, giving rise to a new generation of tech-savvy customers who seek to stay current with the digital society. This shift has influenced the development of banking applications in Mexico. The forum “Banca App-soluta: Technology Transforming Your Finances,” presented by El Economista and sponsored by BBVA, Banorte, and Spin by OXXO, discussed the significance of enhancing financial education and preparing the population for a rapidly advancing digitalization process, despite resistance and distrust from some users.
BBVA Mexico’s Digital Customer Base
Daniel Ordaz, Director of Data and Customer Experience at BBVA Mexico, explained that in the past decade, they have digitalized processes previously conducted at branches. Today, there are over 27 million digital customers who perform an average daily transaction, with more than 60% of new contracts being completed through digital channels.
AI and Personalized Experiences
Rafael Fragoso, Executive Director of Digital Banking at Banorte, emphasized that they are in a crucial moment. Challenges not only come from businesses but also from customers, which is why they are developing AI-based models to personalize the experience.
AI: The Cornerstone of Modern Financial Experience
Ricardo Olmos, Director of Spin by OXXO, stated that AI is the most important driver of transformation in the industry. It enables a personal digital banker to promote financial inclusion and quality education.
The adoption of AI has exceeded expectations. Banks focus on hyper-personalization based on data to automate processes and simplify operations with a single click. Collaboration with fintechs and specialized startups will be increasingly crucial to maintain innovation.
Security: The Major Challenge of Digitalization
Technological advancements have introduced new risks, such as an increase in digital fraud and the use of deepfakes. This necessitates investment in biometric authentication, digital tokens, and AI-powered transaction analysis.
Olmos warned, “Today, it’s easy to clone a voice or a face. Adopting anti-fraud technologies is essential for ensuring the success of this model.”
The Increasingly Digital Mexican Consumer
Despite the challenges, the Mexican consumer has become increasingly digital. The adoption of electronic payment methods in purchases and services is vital for strengthening financial access and health in the country.
Key Questions and Answers
- What is the main topic discussed at the forum? The forum “Banca App-soluta: Technology Transforming Your Finances” focused on the importance of enhancing financial education and preparing the Mexican population for rapid digitalization in banking.
- How many digital customers does BBVA Mexico have? BBVA Mexico has over 27 million digital customers.
- What role does AI play in the modern banking experience? AI is crucial for hyper-personalization, automation of processes, and maintaining innovation through collaboration with fintechs and startups.
- What security measures are being implemented due to the rise in digital fraud? Measures include biometric authentication, digital tokens, and AI-powered transaction analysis.
- Why is it important for the Mexican consumer to adopt digital payment methods? Adopting electronic payment methods strengthens financial access and health in the country.
