HSBC Mexico’s Arce sees pandemic push for digital banking
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HSBC Mexico’s Arce sees pandemic push for digital banking

Private sector digital adoption is surging because of the pandemic. The resultant efficiencies will partially offset pressure on profitability at the bank.


HSBC Mexico’s chief executive, Jorge Arce, says the coronavirus pandemic has greatly accelerated adoption of its digital banking services – with clients overcoming cultural resistance to move online and take advantage of the bank’s recent investment in technology.

“We have seen a significant growth in the use of digital channels from bank clients, some of whom had refused in the past their use, especially in developing countries like Mexico,” Arce tells Euromoney. "Clients are paying services, bills, transferring money, checking balances, controlling their credit-card spending using state-of-the-art digital tools.

“Even when the client goes to the banks, new digital contracts and mobile applications used by bank officials are making their journey easier and faster. We expect that even one-on-one client calls will move to a virtual setting using tools such as Zoom with upgraded security features. Also, the need to use e-commerce has catapulted the use of electronic payments and card payments online.”

Jorge Arce_160x186

Jorge Arce,
HSBC Mexico

Arce’s comments come after an earlier report in Euromoney suggested that the Mexican government was missing an opportunity that is being seized elsewhere in the region to tackle informality in the economy and migrate the unbanked section of the population into the digital banking system.

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