The banker Emilio Romano, who assumed Friday as the new president of the Association of Banks of Mexico (ABM), will seek to promote the financial integration of North America in the middle of a complex economic context, marked by tensions with his main commercial partner, United States, changes in supply chains and new technological demands.
However, Romano, who will take this position until 2027, sees in this situation a “historical opportunity” so that Mexico strengthens its position as a global economic power, with a clear approach to the financial integration of North America, the support for small and medium enterprises (SMEs) and financing to the projects of the president’s Mexico Plan, Claudia Sheinbaum.
In his speech during the change of mallet at the 88th Banking Convention, Romano, Chairman of the Bank of Bank of America Mexico, presented three strategic axes to transform the Mexican financial system.
The first, he said, is to reduce the use of cash and accelerate digitalization, which considered an essential step to improve competitiveness and strengthen financial inclusion.
Although 74% of purchases exceeding 500 pesos in Mexico are made in cash, Roman stressed that other countries have advanced significantly in digitalization, such as Sweden, where only 10% of the transactions are in cash, and Brazil, where the Pix -instant payments system has revolutionized the financial market.
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The second axis, he added, is to deepen access to financial services to raise inclusion, with a particular emphasis on SMEs.
In this sense, Romano said that these companies are fundamental for economic growth and employment creation in Mexico, but face significant barriers to access financing, such as informality, low financial education and lack of guarantees.
As part of his plan, he promised to work so that at least 30% of SMEs have access to bank credit at the close of the sexennium, thus supporting their integration into the global value chains, as part of the agreement signed yesterday between the Mexican government and the ABM.
The third axis, he concluded, is to strengthen the integration of the Mexican financial system with its main commercial partners in North America: the United States and Canada, as a key measure to capitalize on the opportunities of globalization and changes in international supply chains.
Among his Roman proposal he outlined the creation of joint work groups between banks, governments and private actors to standardize financial processes, facilitate cross -border trade and reduce operational costs.
This approach also includes collaboration in cybersecurity and the simplification of services for Mexicans operating on both sides of the border, as well as for migrants who send remittances to their families.
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In addition, Romano fully supported the Mexico Plan, a strategy to boost infrastructure projects in transport, telecommunications and energy, essential for the economic development of the country and its commitment to national content.
The new ABM leader stressed that Mexican banks are ready to act as promoters and facilitators of the necessary financing for these projects, thus supporting the economic growth and modernization of the country.
“Our commitment to the Mexico Plan is clear, since it establishes the route for growth with social sense and shared prosperity. The infrastructure that Mexico needs to develop its potential in the transport sector, telecommunications and energy,” he said.
With EFE information
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