Caja vecina, seguir creciendo en un entorno de cambios tecnológicos
At the end of 2016 “CajaVecina”, a subsidiary of BancoEstado of Chile, the only public bank, celebrated 10 years. The subsidiary was born as a business model that sought to democratize financial services to all sectors of the country, implemented in small businesses through a “POS” electronic device...
| Main Authors: | , , |
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| Format: | Article |
| Language: | English |
| Published: |
Universidad de Chile
2019-12-01
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| Series: | Estudios de Administración |
| Online Access: | https://estudiosdeadministracion.uchile.cl/index.php/EDA/article/view/55406 |
| Summary: | At the end of 2016 “CajaVecina”, a subsidiary of BancoEstado of Chile, the only public bank, celebrated 10 years. The subsidiary was born as a business model that sought to democratize financial services to all sectors of the country, implemented in small businesses through a “POS” electronic device. More than 12 million clients and nonclients of BancoEstado carry out transactions online.
With the passage of time, CajaVecina became the largest and most successful bank correspondent service in the country, with a network of financial and nonfinancial services distributed throughout the country through the “Warehouse of its neighborhood”, with more than 19 thousand network points. Despite the above, BancoEstado and CajaVecina faced new challenges. The large number of clients and transactions were not easy to sustain and made it necessary to quickly implement a “digitalization strategy” proposed by the Executive Committee for the years 2017-2020.
The General Manager of CajaVecina, Marta Jancso, was aware that although she had the most extensive service network in the country (equivalent to more than 8 times the number of banking branches existing in Chile), a new rethinking of the strategy, on the verge of starting the new budget year. She looked at the transactional map of BancoEstado’s clients and the Bank’s digitalization strategy for the same period and wonders if CajaVecina will continue to expand its service network and its services with the current format or should make adjustments to its strategy, to the offer of value, services, technology or simply resigning to see how financial transactions in cell phones and the Internet end up collapsing the successful present of CajaVecina. |
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| ISSN: | 0717-0653 0719-0816 |