Mexico’s publicly-traded bank Grupo Financiero Banorte has selected IBM to develop a new customer-centric banking model in Latin America, to improve its efficiencies levels close to 40% and return on equity above 20%.
A 10-year strategic agreement between the companies will integrate consulting and IT services and research & development to enable the lender to manage and exploit huge amount of client data, and enhance customer experience.
IBM will develop a scalable and sustainable platform to achieve better efficiencies and high attention levels and segmentation, retention and contact schemes with its clients, through available channels and others to be developed.
A strong corporate governance model will be set up to ensure effective monitoring of the investment in new projects and the re-routing of existing spending.
The recent initiative for technology upgrade will allow the lender to understand clients’ expectation, so that it can develop and provide customized products and services according to customer requirements.
The new customer-centric banking model being developed by IBM will enable Banorte-Ixe to differentiate the company to better utilize Big Data, analytics, cloud computing and social business.
Providing brokerage services, wealth advisory, investment companies, Grupo Financiero Banorte manages a network of over 1,300 branches, more than 6,700 ATMs and 110,000 POS terminals.