The Progress Report

What role does technology play in creating human-centric experiences?

Episode Summary

Compartamos Banco has been operating in Mexico for more than 32 years and has helped more than 13 million people to gain access to vital financial services. With more than 2.5 million customers throughout Mexico – 89 percent of them women – Compartamos Banco is enabling people to capitalize on their ingenuity and hard work and realize their dreams. In this episode our experts discuss what goes into creating a digital experience and enabling flexible business capabilities that support this new journey. Hear from our guests Kenya Muedano, Director of IT Build-The-Bank, Gentera and Katia Diep, Senior Partner Financial Services & Telco, Kyndryl.

Episode Notes

These days every company is a tech company. With technology making the world smaller, it opens the possibility to reach communities and spaces that have been underserved. Access to microfinancing drives female empowerment, promotes gender equity and boosts local economies. ​

Compartamos Banco has been operating in Mexico for more than 32 years and has helped more than 13 million people to gain access to vital financial services. With more than 2.5 million customers throughout Mexico – 89 percent of them women – Compartamos Banco is enabling people to capitalize on their ingenuity and hard work and realize their dreams. In this episode our experts discuss what goes into creating a digital experience and enabling flexible business capabilities that support this new journey. Hear from our guests Kenya Muedano, Director of IT Build-The-Bank, Gentera; Katia Diep, Senior Partner Financial Services & Telco, Kyndryl.

Episode Transcription

Nel Akoth  0:03 

Hello and welcome to yet another episode of The Progress Report. I'm Nel Akoth Kyndryl's Chief Transformation Officer. On today's episode, we'll be discussing the role that technology plays in creating human centered experiences. These days every company is a tech company. And in many ways this is positive technology has the power to shatter global walls, enabling us to reach communities and spaces that have been underserved. For example, access to micro financing, powered by technology, drives empowerment and boosts local economies. In our discussion, we will focus on how technology enables companies to put customers at the heart of how they deliver services. I am proud to be joined today by Kenya Muedano, Director of IT Build the Bank at Gentera. I'm also joined by Katia Diep, Kyndryl's, Senior Partner, Financial Services and Telco.

 

Kenya and Katia, thank you for joining me today. As we explore this important topic, I know it will be a compelling discussion for our listeners. So before we dive into our topic, I think it's particularly important to share context around what Gentera does for our listeners, the bank has been operating in Mexico for about 32 years, and over time has helped more than 13 million people to gain access to vital financial services with more than 89% of their customers in Mexico being women. The company is the example of spreading financial empowerment. First, Kenya, I want to talk a little bit about your business model, I'm sure the business model to provide micro loans to individuals or groups, primarily female entrepreneurs seeking to establish or build their small business. What drives that model? And in your view, what does this model represent for the banking industry? Why is providing this kind of financial assistance important, Kenya?

 

Kenya Muedano2:21 

Hi, nice to meet you. Hi, everyone. Our business model, it has a strong social impact. We have opportunities that promote people's development, especially women, we bring inclusion to low income per segment. In the bank, we have a portfolio of products that has evolved in the time we generate economic value, social value, human value, and more product meets financial needs for our customers, we have evolved in the bank from a broad portfolio of renting credit to offering savings insurance solutions. I was saying that it's important because microfinance institutions provide low income segment access to that product that otherwise these people wouldn't have access to financial services or financial traditional institutions.

 

Nel Akoth  3:09 

And Kenya, it's also fascinating you talk about, the access, and it also sounds like a really fascinating space to work in. Can you share with us what drew you to a career in this space? And why are you the leader of this big project?

 

Kenya Muedano3:25 

Yes, well, I have been working in Gentera for the last 11 years. And I'm very proud for being part of this team. Currently, I lead the IT teams that are designing and building their capabilities to enable Gentera's digital transformation. We're very proud that our work are making the difference and have an impact in people's lives. My personal purpose connects with Gentera's purpose, that is a social impact and my everyday work makes people's life easier.

 

Nel Akoth  3:56 

Yeah, I really like the touch on that social impact and making people's lives easier, because truly, that's really hitting the heart of what you know reaching the community elements. Let me transition a little bit to Katia. Why do you believe it's important to bring technology to this customer base?

 

Katia Diep  4:17 

Well, Technology is everywhere. And we need technology for almost everything we do. So we have been working with Compartamos, enabling them to provide these services to their clients. And we have been working with them for more than 10 years. And I think that we have been evolving and growing together with them to operate the systems that enabled them to continue providing these loans to their customers.

 

Kenya Muedano4:50 

Yes, I want to add that technology are redefining how we interact with people. The communication is going more interactive, collaborative. And it helps us to have access to instant information, we can listen to our customer needs and receive feedback in real time. That's something that you are helping us to improve our services.

 

Nel Akoth  5:16 

I'd like for us to explore a little bit more on how the technology is playing a role in Banco Compartamos customer experience. I think, you know, it provides real relatable context for most of us. Most individuals here have a consumer banking experience and can attest to the role technology has played in creating that, can you help us really get a sense on how you're doing it to a more seamless and frictionless experience for customers?

 

Kenya Muedano5:43 

Well, technology enhances our capabilities with this interactive and collaborative communications. Our business model is more efficient, flexible, so we can serve millions of people, we can reach beyond and rank more efficient services and affordable services for our customers.

 

Nel Akoth  6:02 

Great. I like it simple, efficient, and relatable. Katia, is there anything you would add to this? What is your view on how we can ensure that technology is truly fueling customer experience in banking, versus hindering the experience by making it feel less human centered?

 

Katia Diep  6:22 

I think that the clients are expecting more from from their banks and from their financial services. So the challenge for the banks are to provide the service 24 hours a day, they have to provide different channels, they have to be always online, and with Banco Compartamos, I think that we can say technology is the most important piece to provide that experience to their clients, to be always online, to be always there, to listen to their requirements. Also, to provide the most easy methods to contact with their bank, they are always expecting that the bank is there for them anytime, anywhere.

 

Nel Akoth  7:12 

You're addressing the needs of what the customer is looking for. And in this case, technology is really an enabler, not necessarily bringing in that less human centered, it's more addressing the need. I really like that. And how can you I'm curious, banks have evolved so much in the last couple of decades, especially. So how has your business model been influenced by customer feedback to make sure that these innovations are effective and well received? What kind of resources do you provide to your customers?

 

Kenya Muedano7:43 

Well, since 2017, we established a methodology to listen to our customer needs, and improve our financial services. We are very human centric, so we try to understand their pain points, their lives, how they are facing challenges every day, and we tried to solve them, and to offer them solutions. We meet with our customers nearly every week. So we have YouTube channels to receive their feedback, but our sales team are with them. So we have different channels to receive and identify if this feedback is a pain point, or is something that we are not solving in their lives. 

 

Nel Akoth  8:27 

Now I want to dig a little bit deeper on transformation, the transformation that the bank is undergoing. So Kenya, it's easy to see why companies double down on transformation when they are lagging behind in an industry or when they need rapid change. So can you help our listeners understand why you are transforming - the big role that you have - the bank's business model, when I'd say that the business is going well for you?

 

Kenya Muedano8:55 

Yes, it's going very well. We do want to stay relevant to our customers, and the world is changing very fast. So we have to be aware and ready to serve our customers, because it's changing also that the way they interact with financial institutions.

 

Nel Akoth  9:13 

I like the thought about staying relevant. I think it ties back to some of what Katia had also mentioned, and that instantaneous need for data. So let me come back to you again, Kenya, because I'm curious about this. And I'm sure some of our listeners are also curious. How has this transformation been for you? How has it evolved?

 

Kenya Muedano9:32 

Well, the transformation is the most amazing part of my last years. We're very excited. We started defining our digital business strategy, detail our digital ambition. We defined the experience we want to create in our customers. We also work in the operating model we need to support this because our main focus is deliver technology initiatives with speed and agility, and especially for me to connect IT and the business, because it's very important that IT understands their business goals we are after. We also reinforce our culture. So we have to understand this customer, with this human connection, how we attend these needs. We create also an action plan to attain the desired mindsets and behaviors. Speaking of technology, we started to lay out our technology map, starting with business capabilities, and then identifying the digital platforms that support them. We also provide platforms and tools that enable our teams to work together, and also empower them to build these capabilities by themselves.

 

Nel Akoth  10:49 

In my role as Transformation Office, I totally can relate to all the different aspects of excitement that you just shared. From the transformation of our systems and tools to culture and our people and how we engage I can truly relate to that. Thank you so much. And Katia, what is your perspective as a partner in the transformation? How has technology played a role, and what has been some of the biggest learnings so far, from your perspective?

 

Katia Diep  11:15 

The most important piece is to share with them this objective of empowering women. Be that enabler that provides them to start their business, to grow their business, to change their lives. So sharing this objective that we have in common is very, very exciting for us. We have a slogan here in Kyndryl, that says that we operate the systems that move the world. And I think in this case, it's for real. I think that we have these cases that we have been testifying on how Compartamos Banco is helping women to start their businesses, to grow their businesses, and  we're part of it. So this is really, really amazing. This is something that we can be proud to provide those services which enables Compartamos to make this dream real for that amount of people.

 

Nel Akoth  12:18 

Absolutely. How will this transformation impact the stakeholders of the bank, for example, its clients and collaborators. And I can I'm thinking of it in terms of now, you think of the newer term and also, you know, even projecting out years to come.

 

Kenya Muedano12:35 

For our customers, our vision is to deliver them tailor made products and services when they need it, what they need. So I think that this transformation will impact them very positively. Because they will get what they need, and in the moment, in the right moment and in the right way.

 

Nel Akoth  12:55 

I totally agree. Katya, would you add anything around that human impact? How do you think the transformation will positively influence working with partners like Kyndryl to create joint value?

 

Katia Diep  13:08 

This objective that Banco Compartamos has set to reach the most amount of people and very fast and to have an impact in their lives is something that I think that motivates us to continue providing different solutions to Compartamos to bring them additional services that they can use to provide a better service to their clients that they can provide security to their clients that they can trust Banco Compartamos because they are always there, they are always online, they are always providing that service. I think that Banco Compartamos' objective, motivates Kyndryl to be a better partner for them, to make them feel comfortable, that they can reach those goals with a partner like us behind them.

 

Nel Akoth  14:07 

So let me go into the final question. And I'm going to extend this question a little bit. I'll start with you, Kenya. Where do you see the bank in five years? And this is how I'm kind of thinking of the question here. What will be the value you'll be providing human beings around the world, and particularly those populations that are underserved today?

 

Kenya Muedano14:28 

Well, I see Gentera and Compartamos Banco as financial inclusion - meeting exactly what our customers need, using technology to reach more people, increase our coverage, and bringing higher value and also offering innovative services.

 

Nel Akoth  14:47 

And Katia, the same question but in a different way. How would you feel to partner with an organization that's really creating this big impact in the world?

 

Katia Diep  14:57 

We're really honored - that's the word. We are very pleased with what we have achieved together with Compartamos. And I really want to become more and more their partner, and to reach more and more people with them, and to help them to meet their objectives. This has been a pleasure to work with Compartamos for all this time.

 

Nel Akoth  15:26 

Wow, Kenya and Katya. This has been an enriching topic. One that I believe each and every one of our listeners can relate to one way or the other. And I have to say, I particularly love that we are able to bring it to light through the discussion, the fact that technology, when leveraged correctly, and with positive intent can truly unlock barriers, particularly in those under represented population. So thanks both for joining me today on this episode of The Progress Report, and thank you to all our listeners. Until next time, I'm Nel Akoth on The Progress Report.