The president and CEO of HSBC Mexico and Latin America, Jorge Arce, pointed out in an interview prior to the 88th Banking Convention that it is essential for the banking sector to ensure prudent financing, considering the responsibility of deposits. Arce emphasized that the only way to provide credit is through a loan, which is earned with a transaction history that shows both inflows and outflows of money.
Arce stressed the importance of having a record of income and expenses so that the bank can evaluate the level of loan it can offer. In this sense, he mentioned that there are alternatives for businesses to meet this requirement, such as using a point of sale terminal (TPV) or the Digital Collection (CoDi) from the Bank of Mexico, among others.
The director of HSBC Mexico and Latin America highlighted that digital initiatives driven by the federal government, such as digital identities, will contribute to the opening of more bank accounts in the country. He also emphasized the importance of continuing to invest in digital infrastructure to improve customer experience and maintain efficiency in the Mexican market.
Arce mentioned that the dispersion of bank credit across various sectors is positive, but pointed out that high informality in the country can limit inclusion efforts, especially for small and medium-sized enterprises (SMEs). In this regard, he highlighted that competition in the financial sector, driven by the arrival of new technological players, benefits users by fostering innovation and improvement in financial services.
The banker recognized the positive impact of fintech on the financial sector and the importance of regulating the actions of those actors who operate as banking entities. Arce stressed the need to learn from the competition and adapt to market changes to offer better service to customers. In this context, he highlighted that for SMEs without a transaction history and without a bank account, accessing loans can be difficult.
