“We need to continue pushing bankization, but also investing in our economy’s digitization”
According to country manager Manuel Olivares, in the nearly 20 years that the group has been in Chile, BBVA has been an important actor in the country’s development process. “Not only have we financed important government construction projects, not only do we employ nearly 5,000 people, but we have also worked side by side to improve access to banking services."
An aspect that has proven pivotal to reach a larger share of the population has been the financial sector’s digital transformation. To illustrate this point, Manuel Olivares said that “in recent months, nearly 30% of consumer lending sales have been through digital channels. Nearly 100% of our customers’ transactions can be processed using mobile phones.”
And this is a process that needs to continue: “We need to continue pushing bankization, but also investing in our economy’s digitization”
BBVA Chile’s country manager says that if the country has experienced an astounding development process “that has allowed us to be at the forefront of Latin America in terms of GDP per capita,” to keep improving, Chile needs to make new investments that will allow it to take a leap and remain at the forefront of Latin America.
For Manuel Olivares, the internationalization of the economy and the integration with other markets are essential for this process, and that is why he considers that the Pacific Alliance (PA) plays a pivotal role. Indeed, the member countries of the PA (Peru, Mexico, Colombia and Chile) have a common vision of society and the market as well as many common challenges, such as education and investment in infrastructure.
"The digital revolution does not only bring challenges. It also provides many opportunities
Considering BBVA’s leadership in the bloc’s member countries, the group aims to become the reference bank for the Pacific Alliance.
Finally, Manuel Olivares underscores that BBVA’s global purpose - to bring the age of opportunity to everyone – makes more sense today than ever: the digital revolution does not only bring challenges. It also provides many opportunities and that’s why today we are defining the bank we want to be in the future.
