Global Retail Banking Analyzes the Impact of Digitalization on Business
CECA participates in the 24th Congress of the World Savings and Retail Banking Institute (WSBI), which discusses strategies for adapting to the digital era
Isidro Fainé has been re-elected as Vice President of WSBI during the institution’s governing body meetings.
The 24th Congress of the World Institute and the European Savings and Retail Banking Group (WSBI-ESBG) took place in Washington under the motto “Main Street Banking in a digitised World.” This event, which brought together representatives from financial institutions, technology companies, and authorities from around the world, including Spain’s Minister of Economy and Competitiveness, Luis de Guindos, served as a platform to reflect on the challenges and opportunities presented by digital transformation in the banking business.
CECA, which plays a very active role in the WSBI and has sponsored the Congress, was represented by several of its executives, notably its president, Isidro Fainé, who currently holds the presidency of the ESBG. During his speech, Isidro Fainé stated that “the digital revolution offers opportunities to be closer to our clients, to know them even better, through tools like big data, and to provide them with better, more personalized service.”
In his address, he also emphasized the need to “combine banking tools with digital ones to become a more competitive banking model and ensure we remain the main actors in the banking ecosystem.” He added that to achieve these goals, “we count on the contribution of the WSBI, which can be used as a platform to support its members, share knowledge and experiences, exchange views on banking issues, and help implement innovative business strategies.”
The Conference concluded with the approval of the Washington Declaration, a document outlining the roadmap for global retail banking over the next three years. The text advocates the transition to digital platforms as a way to enhance access to financial services and strengthen customer relationships.
In this regard, Fainé highlighted that “social commitment not only adds value to clients, shareholders, and employees, but above all, it is a commitment to the development of a fairer society. As retail banking, we must be sensitive and understanding, and never indifferent to others.”
Meetings of the WSBI Governing Bodies
The day before the Congress began, statutory meetings of the WSBI took place, where several significant decisions were made. The institution’s Assembly re-elected Heinrich Haasis as President, who was the former CEO of the German Savings Bank Association (DSGV). The five vice presidents of the WSBI, including Isidro Fainé, were also re-elected.
Furthermore, the WSBI’s commitment to financial inclusion has been solidified through a memorandum of understanding with the World Bank to achieve the strategic goal of universal access to financial services by 2020. In that year, members of the Institute commit to reaching 1.7 billion banking users and 400 million accounts.
