Latin Finance - July/August 2009 - 36
Guide to Banking Technology Banking to Go Banks in Latin America are adding mobile banking services, but they are behind other emerging economies in implementation. That should change in the near-term. by Taina Rosa S UPDATE For more stories on banking technology, see www.latinfinance.com > ince 2006, Latin American retail banks have been implementing mobile banking and other technological advancements to improve customer service while cutting costs, but they still have a long way to go to catch up with financial institutions in other markets. Rapidly growing mobile phone usage is expected to help overcome barriers to bankarization. An April study by Boston-based consulting firm Arthur D. Little shows that while the banking industry in Japan, Austria, Singapore and South Korea are advanced with implementing mobile banking systems, most LatAm countries “have not yet started to exploit the potential of mobile payment services significantly.” Nevertheless, the firm says it expects “a rapid development in these countries as soon as an optimal service platform is selected for implementation.” Mobile banking in its simplest form allows people with bank accounts to perform tasks such as checking balances and viewing transaction details using a cell phone or other mobile device. In its most advanced form, mobile banking allows users to transfer money between accounts and make bill payments. The basic form of mobile banking is supported by most cell phones. “It’s very simple. All you need to do is download a Java-based program from your bank’s website to your cell phone,” says Andrés Sciarrotta, consulting analyst at research firm Frost & Sullivan. Cell phone use in LatAm is increasingly common. 36 LATINFINANCE July/August 2009
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Latin Finance - July/August 2009
Table of Contents for the Digital Edition of Latin Finance - July/August 2009
Latin Finance - July/August 2009
Contents
Fund Performance
Compensation Survey
Sellside Startups
Eike Batista Interview
Private Equity
Private Banking
BNDES Lending Analysis
Equador Mining
Corporate Governance
Parting Shot
Latin Finance - July/August 2009 - Latin Finance - July/August 2009
Latin Finance - July/August 2009 - Cover2
Latin Finance - July/August 2009 - Contents
Latin Finance - July/August 2009 - 2
Latin Finance - July/August 2009 - 3
Latin Finance - July/August 2009 - 4
Latin Finance - July/August 2009 - 5
Latin Finance - July/August 2009 - 6
Latin Finance - July/August 2009 - 7
Latin Finance - July/August 2009 - 8
Latin Finance - July/August 2009 - 9
Latin Finance - July/August 2009 - Fund Performance
Latin Finance - July/August 2009 - 11
Latin Finance - July/August 2009 - 12
Latin Finance - July/August 2009 - 13
Latin Finance - July/August 2009 - 14
Latin Finance - July/August 2009 - 15
Latin Finance - July/August 2009 - Compensation Survey
Latin Finance - July/August 2009 - 17
Latin Finance - July/August 2009 - 18
Latin Finance - July/August 2009 - Sellside Startups
Latin Finance - July/August 2009 - 20
Latin Finance - July/August 2009 - Eike Batista Interview
Latin Finance - July/August 2009 - Private Equity
Latin Finance - July/August 2009 - 23
Latin Finance - July/August 2009 - Private Banking
Latin Finance - July/August 2009 - 25
Latin Finance - July/August 2009 - BNDES Lending Analysis
Latin Finance - July/August 2009 - 27
Latin Finance - July/August 2009 - 28
Latin Finance - July/August 2009 - 29
Latin Finance - July/August 2009 - Equador Mining
Latin Finance - July/August 2009 - 31
Latin Finance - July/August 2009 - 32
Latin Finance - July/August 2009 - 33
Latin Finance - July/August 2009 - Corporate Governance
Latin Finance - July/August 2009 - 35
Latin Finance - July/August 2009 - 36
Latin Finance - July/August 2009 - 37
Latin Finance - July/August 2009 - 38
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Latin Finance - July/August 2009 - 40
Latin Finance - July/August 2009 - 41
Latin Finance - July/August 2009 - 42
Latin Finance - July/August 2009 - 43
Latin Finance - July/August 2009 - 44
Latin Finance - July/August 2009 - 45
Latin Finance - July/August 2009 - 46
Latin Finance - July/August 2009 - 47
Latin Finance - July/August 2009 - Parting Shot
Latin Finance - July/August 2009 - Cover3
Latin Finance - July/August 2009 - Cover4
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