Santander Mexico has been actively embracing digitalization, introducing several digitally focused services, including a customer-service bot using AI application ChatGPT and incorporating DiMo, an electronic transfer platform from Mexico’s central bank, into its application. The bank has seen a growth of over 40% in transfers through its application in December compared to the previous year. The shift towards digital payments is expected to boost online and omnichannel purchases.
Key takeaways:
- Santander Mexico, a subsidiary of Santander, is preparing to launch its digital bank service, Openbank, this year.
- Traditional banks in Mexico are trying to keep up with the rapid growth of digital banks, with Banorte also set to launch its digital bank service, Banco Bineo.
- Santander Mexico has been actively embracing digitalization, implementing a customer-service bot on its social media platform and experiencing a growth of over 40% in transfers through its application in December.
- There is a shift towards digital payments in Mexico, with a decline in the use of cash and an increase in contactless credit and debit card payments, which may boost online and omnichannel purchases.