Anyone looking at the homepage of Banco Santander’s websites in Spain and Mexico could be forgiven for thinking that the digitalization of banking in emerging and developing markets is homogenizing banking models. They might even question the notion of distinct emerging market banking as still ‘a thing’.
According to Carlos Rey, Santander’s regional head of South America, this would be a mistake. Consumer and corporate banking in emerging markets is still a very different proposition to that in developed markets.
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