GUIDE: Banks Go Hi-Tech
Banks in LatAm are deploying technological innovations to better serve corporate, government and retail clients. They are also targeting the unbanked.
by Taina Rosa
In M-BRIC countries (Mexico, Brazil, Russia, India and China)
mobile financial services, services accessed via a cell phone,
are used by 32 million people. This number is expected to surge
to 290 million by 2015, according to a research report by
consulting firm Arthur D. Little.
By 2015, mobile payment
transaction volume is expected to reach $8.7 billion in Brazil
and $6.2 billion in Mexico, according to the report. These
transactions include merchandise payments, ticketing,
remittances and bill payments.
Aware of this growing
trend, banks all over Latin America are getting ready to meet
increased demand for technological innovations, rolling out new
applications to enhance the products they offer and keep up
with client demand. Not only are they implementing mobile
technology, they are also developing other services not
accessed by cell phone.
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