- Responsible Banking Report | 2019
Transformation
9.b Support domestic technology development, research and innovation in developing countries, including by ensuring a conducive policy environment for, inter alia, industrial diversification and value addition to commodities.
At Santander, we have decided to embrace these growing changes within our business, not only to adapt to technological developments, but also to use service digitalization and mobility as competitive advantages to help us grow even further.
As such, we add value to our financial products and services, transforming our processes based on new technology trends, thanks to the help of talented and prepared staff who drive innovation and respond effectively and opportunely to the needs of the digital era.
Digitalization of Channels and Platforms
The digitalization of our channels and platforms has allowed us to promote accessibility and improve user experience, while we work diligently to tackle new technological challenges.
Santander Personal is a remote customer support channel that helps us better engage with our digital customers through an active communication platform with specialist consultants. Since its launch in 2018, this multi-channel model has increased in scope, and, in 2019, we now support 102,000 customers, 175% more in a year-on-year comparison.
In 2019, we reached 4,171,012 digital customers, which represents more than 23% of our total active customers. In recent years, we have experienced accelerated growth, and, compared to 2018, there was a 44% increase.
Investment in Innovation and Technology
Investing in developing new technologies helps us improve our overall performance, which, in turn, benefits all our stakeholders.
We have a digital factory called Spotlight, which works on creating and implementing new projects, accelerating the speed of our digital banking transformation.
In 2019, we made major advances in innovation. We created a unique digital payment ecosystem, driving new business to the Bank and offering our customers new ways of interacting with their account and with other banking users.
Santander TAP has eliminated obstacles for payments between individuals, and its features make it unique in Mexico. More than 50,000 customers can send payments via their preferred chats in a matter of seconds, without having to know the other person’s bank account details, for payments from just MXN $10. In total, 380,000 payments have been made, totaling MXN $180 million.
MY GOALS is the Bank’s most successful WOW product and the first automatic savings solution in Mexico, offering customers the opportunity to set savings goals, be it by setting a fixed amount, rounding up their purchases, assigning an amount from every paycheck they receive, buying a coffee, or even going to the movies. In less than a year (it was launched 11 months ago), we have helped more than 200,000 customers boost their savings to the tune of MXN $2,700 million.
We also offered our customers other options to help facilitate their day-to-day operations, such as cardless cash withdrawals from ATM’s and direct debts for utilities, such as electricity and water, through GO PAY.
Driving innovation to achieve Financial Inclusion is our strategic priority. That is why we have designed a Digital Merchant concept through SuperRED, a technology platform that offers integrated financial services to small businesses (mom-andpops). During stage 1 of the pilot program, we have connected more than 1,500 convenience stores, allowing merchants to access their bank account, improve their businesses through digital tools, accept card and CoDi payments, pay their utility bills, and obtain points with every sale. Over the coming months, we will increase these services, offering personal loans, attracting new customers directly at these stores, and integrating consumer goods distributors and manufacturers.
Fintech Promotion
Through the Santander RADAR program, we help position the Bank as a benchmark in fintech entrepreneurship in Mexico, constantly monitoring the best solutions to identify new businesses and collaboration opportunities with the Bank. In 2019, we received more than 70 applications, in addition to holding selection events in CDMX, Guadalajara and Monterrey and coordinating the final of FINNOSUMMIT.
FONDIFY, a Financial Technology company (Fintech), won the 2019 Santander RADAR Award, the leading fintech promotion program. Both the winner and finalists will begin collaborating directly with our Bank, forging an alliance to develop a product or to improve banking services. These startups will be part of an acceleration and incubation program, and, thanks to our collaboration with the British Embassy in Mexico, the winner and runner-up will visit the United Kingdom to take part in the leading fintech event in Europe, Innovate Finance, which will be held in April 2020.
FONDIFY is a fintech that offers sustainability and manages donations to a range of social causes, associations and foundations, using online platforms and technology as differentiating factors.
The finalists were: DISTRITO PYME, a fintech that focuses on offering and providing access to a wide range of tailormade loan options for SME’s; COMPARALE, which specializes in mortgage options; FINAUTA, a bot that provides financial plans and analysis; PAYNOM, a payroll program; and, FINGAME, which focuses on games for savings and financial plans.
