Next Wednesday, April 7th, there will be held the virtual event Open up the Future: The open banking summit 2021, to discuss further the impact, capabilities and future of open banking in the LATAM region. Key Partners and clients in the region will attend this event hosted by NTT DATA.
The key representatives heading the talks will be Manuel Romero, Global Head of NTT DATA’s Open Banking Practice; Esther F. Mendez, Banking & Payments Partner Development Lead at Amazon Web Services Worldwide Financial Services; Edgardo Torres-Callabero, Managing Director for LATAM at Mambu; Emmanuel Got, Head of Business Development at Banco Sabadell Mexico and Patricio Santelices, CEO at Transbank.
The speakers are recognisable members of the financial community, with a high degree of expertise in Open Banking across the LATAM region. The summit will offer opportunities for banks to talk about their transformation journey in digital and open banking practices in the region. The experts at hand will also cover a variety of topics that attendees can learn from.
Impact of regulations on the Banking sector in LATAM
In recent years, Latin American banking and financial regulations have enabled the region to grow in maturity. Moving from a period of monolithic banking models to a time where financial inclusivity, competition and innovation are encouraged, banks are able to take full advantage of the possibilities in Open Banking. During the summit, key questions around the impact of regulations on the banking sector and how regulations can facilitate Open Banking will be discussed by the representatives.
How cloud and other technologies can support the transition to Open Banking
As banks continue to take advantage of Open Banking platforms and steer away from legacy systems, they must harness the available technology in order to compete. In regions like LATAM, it is especially important for Open Banking platforms to take into account the obstacles to implementing technologies and therefore flexibility is key. The cloud-native architecture of the Platea Banking platform, for example, gives banks the ability to grow at their own pace and develop their digital platforms in ways that suit them. This helps reduce the friction when transitioning to new technologies and offers a clearer path to launching a new digital service.
How to take advantage of growth opportunities in the region
The future of Open Banking in LATAM is bright. There is growing access to technology with around 80% of the Latin American population expected to have smartphones by 2025, while nearly 70% of the region has access to the internet as of now. However, inequalities and low financial inclusion in LATAM are still areas of concern and how Open Banking can help address these issues will be discussed during the summit.
IT and Business decision-makers from incumbent banks, prospective banks and Fintechs that are looking to expand into the region, are encouraged to join the event.
To register for the event, please visit: https://openupthefuture.livestreamgroup.es/