September 1, 2013
By Katie Llanos-SmallLatin America’s rapidly growing middle class offers a huge opportunity for the region’s strengthening corporates, and particularly for its financial institutions. As ever greater numbers of people join the formal workforce, they are also signing up for bank accounts, pensions and insurance.
But the sharply accelerating demographic shift also throws up new problems for Latin banks, insurers and pension fund managers, says David Bojanini, chief executive of Grupo de Inversiones Suramericana. As financial institutions jostle for market share in rolling out services to previously unbanked clients, they need to work out new ways to do so.
“To advance financial services or
Globalization and demographic shifts are forcing Latin lenders to innovate, says Grupo Sura CEO David Bojanini