Credicorp presented its digital transformation strategy on the New York Stock Exchange

Digital Investor Day was recently held in New York and London. loan companyIt included the participation of the management team of Peru’s leading financial holding company operating in Bolivia, Chile, Colombia, Panama and the United States.

At the event, the institution presented its innovation and digital transformation strategy to the investor community and the organization’s new Corporate Innovation Management, led by Chief Innovation Officer (Cino) Francesca Raffo.

With this, the holding company aims to strengthen the capacity of each of its four business lines to incubate new models in innovation centers and continue to identify external innovation opportunities through its open innovation arm, Krealo.

The CEO of the group, Gianfranco Ferrari, emphasized that Credicorp’s innovation management will accelerate the digital strategy to promote the sustainable growth of the financial sector in the region. Accordingly, he highlighted the digital transformation process that Credicorp Group companies have fostered since 2015 and strengthened their ability to disrupt their assets.

Regarding the microfinance business, it was emphasized that Mibanco has transitioned to a hybrid model that maximizes productivity, customer satisfaction and guides efficient growth. Likewise, it was mentioned that Yape, the leading digital wallet in the Peruvian market, is developing towards becoming a self-reinforcing SuperApp as the most important payment network that exists in the daily life of ‘yaperos’.

On the other hand, Credicorp CFO César Ríos stated that 2022 is a regional acceleration phase for transformative initiatives such as Tenpo and Yape. “Krealo allows us to invest in the best players in the region and this also serves as a strategic point for Credicorp to continue promoting its business lines. We want our fintech companies to scale at the regional level”, emphasized Ríos.

In this sense, Krealo is consolidated as the arm of Corporate Venture Capital, which will focus on external innovation to invest in opportunities that complement Credicorp’s current and future lines of business. The objective will be to increase the size of the regional financial services market while developing the technology of the Group’s subsidiaries.

Ferrari stressed that Credicorp’s innovation management will broaden the focus to gain synergies and take advantage of knowledge exchange opportunities with other businesses, while at the same time maintaining the independence and disruptive initiatives of the Group’s different lines of business. The innovation initiative will ensure fiscal discipline at a time when interest in such investments is increasing.

Source: Lare Publica


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