Gartner Research

Survey Analysis: Latin American Digital Banking Status, and What CIOs Can Learn From a Large Emerging Market

Published: 16 January 2015

ID: G00273492

Analyst(s): David Furlonger , Juan Fernandez

Summary

Banks in Spanish-speaking Latin America are making progress on creating digital strategies and technology road maps. This digital focus is heavily weighted in favor of cost and efficiency improvements.

Table Of Contents

Analysis

  • Survey Objective
  • Data Insights
  • Finding 1: Bank Executives Have a Clear Intent to Digitalize, but Their Strategies Are Not Comprehensive, Lack an Appointed Digital Leadership, and Digital Initiatives Are Starting From a Deep Legacy of Analog Processes and Products
    • The Digital Imperative
    • Digital Strategies and Technology Road Maps
    • Product and Process Enablement
  • Finding 2: Digital Technology Is Targeted at Internal Bank Legacy Modernization Initiatives, Not External Customers
    • Open Banking
  • Finding 3: Bank Customers Exhibit a Higher Adoption Rate of 20th Century, Rather Than 21st Century Digital Technologies
  • Finding 4: Bank Executives Recognize the Industry Is Ripe for Disruption, but Their Investment Outlook Is Dominated by Internal Process Enhancements, and the Majority Have No Strategy for Dealing With Nonbank Competitors
    • Competition
  • Methodology

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