New technologies will be the basis for changes affecting users of financial services in the future.
Accessing your account from Facebook and financing being offered at the time you buy a product are some of the innovations that we could be seeing in the coming years in the banking industry.
This is one of the conclusions from research conducted by experts in technology and financial services applications, which include, among other things, the ability to soon be able to sign agreements using just a smartphone.
In order to encourage commercial business with Central America, the Lafise group has started operating in Colombia.
The bank has been operating for 26 years with offices in Nicaragua, Mexico, United States, Honduras, Spain, Costa Rica, Guatemala, Venezuela, Panama, El Salvador and the Dominican Republic.
Maria Paula Alban, at the Larepublica.co, interviewed the president and founder of Lafise, Roberto Zamora on his visit to the Colombian capital:
The main shareholder of the new bank, which will open operations on 13 July, is the Panamanian holding company Bicapital Corporation.
As outlined in an article in Elperiodico.com.gt, Banco Industrial El Salvador will absorb the existing operations of the representative office of Banco Industrial Guatemala, which is already operating business loan services in El Salvador.
In the last ten years the number of banks operating in the country fell by 52.6%.
According to information from the Superintendency of Banks (SIB), in 1999 there were 38 banks operating in the country, dropping to 18 in 2010. In contrast, sector earnings rose 1736.7%.
Bankers and financial analysts agree today that the financial system is stronger.
The Guatemalan bank will invest $20 million in the opening of five agencies in El Salvador.
Luis Lara Groject, Banco Industrial's manager, commented that the opening had been planned for May but the development of information systems took longer than expected.
According to elperiodico.com.gt the new Salvadoran branches will have $20 million worth of capital initially.
The number of basic banking services offered by local, small stores increased 27.6% when compared to 2008.
Currently there are 1.915 agencies offering basic transactions like cashing small checks and paying public services.
"In Guatemala, two banks have implemented this business model: G&T Continental and Industrial (BI)", reported Prensalibre.com. "In 2010, G&T expects to grow 30% in this segment, and BI 25%".
Aiming to offer more services to SMEs, "Banco de Crédito Agrícola de Cartago" will open 4 new agencies in rural areas.
On July 29th, they will open an agency in Guápiles, Pococí, on August 5th in Pérez Zeledón, on August 12th in Liberia, Guanacaste, and finally, an agency will open in Ciudad Quesada in November.
An article in Prensalibre.cr interviewed CEO Guillermo Quesada: "Our biggest challenge is to take advantage of the opportunities in these times of crisis. Today we redouble our commitment with the country, after 91 years of uninterrupted trajectory...".
The proposal submitted by a colombian group was unsuccessful, so the process is once again open for bids.
The bid submitted by the colombian group did not meet seller or Bank Superintendent expectations.
Edith Castillo wrote in Prensa.com: "In the beginning, the possibility of selling the banking and security operations in a single package was suggested, but there has been a change in plans, and now Stanford Securities will be sold separately.
At least three entities will present their bids today for the purchase of the bank's assets and the brokerage firm.
Since the fraud investigations that were conducted in the US last February against the group's main shareholder, Stanford Bank Panama is under the control of the Superintendent of Banks.
Journalist Edith Castillo, wrote in Prensa.com: "On Monday, March 20, the extension that the interim administrator, Ramon Martinez Stagg, has to present a report on the bank's status will expire. Most of the bank’s assets were placed under the custody of financial institutions in England, Switzerland, Ecuador and Peru under the jurisdiction of US authorities. In Panama, Stanford Bank's assets total $228.6 million."
The National Bank of Costa offers 250 services at 500 local small businesses.
Using the internet, business owners at pharmacies, small shops, and mini supermarkets can attend to clients of the Bank who can access banking services in areas where it is not profitable to install a full branch.
Mercedes Aguero reports in an article on Nacion.com that "to become a correspondent of the National Bank, interested business owners must sign a contract with the bank in which the necessary conditions and requirements are established. The commission that the clients pay for using these services is shared between the bank and the business owner."
Just as they regulated the placement of credit in the last few months, they are also applying the same policy to the opening of branches for next year.
Of the 14 banks operating in the country, 8 announced that they will open a maximum of 56 new branches; 41 of these will be by public banks, which continue to have a aggressive expansion plans.
Private banks are more conservative and link the opening of new branches to the behavior of the economy and business in 2009.
The bank is planning for next year to have its own insurance agency, with 136 branches and to create 1000 small operations points in stores and businesses.
Having its own insurance agency is the next goal of the Workers Bank (Bantrab), which together with its new image and purchase of the assets of the Bank of the Republic, may, based on plans, position the bank as one of the top 5 banks in the next 2 years.
Banks in Guatemala are expanding by installing branches in small businesses to offer financial services.
Who would have thought that a pharmacy, a hardware store, a book store, or any other business would one day offer many of the financial services that have been exclusive to banks for decades?
"I never imagined it, but now I am happy because, not only will it help a lot of people, but it will also help my business to get more clients; I'm happy." This is the way Irma Medrano, the owner of J&M Bookstore, described her new role as a banker. Medrano has her business in Jalpatagua, Jutiapa. Her bookstore has been converted to a branch of the G&T Continental Bank and offers a variety of services such as reception of payments (telephone, water, and electricity), remittances and checks, as well as deposits.