November 10, 2015
LatinFinance: A great deal is being said about potential disruption facing banks. Do you see this happening?
Pérez: Disruption is a fact, and a positive one. It is also a fact that banking, whether we are talking about funding for SMEs or consumer transactions, has changed with mobile banking. In Bancolombia, more than half of the 180 million transactions registered a month are now done with mobile phones or personal computers, which means that more and more people are managing things on their own without the need to visit a bank branch. This is disruption.
LF: What changes do you see?
SP: Banks are used to doing everything alone, but I think we need to do it with allies and many of these
Bancolombia’s vice president for SME and consumer lending discusses how traditional banks are set to change with the tech revolution