Competitor Profile: Grupo Financiero Banorte

2019-04-16
Price :
Published : Apr-2019
No. of Pages : 14

Competitor Profile: Grupo Financiero Banorte

Summary

Banorte has established an innovation hub for building a digital community. The company has also been deploying self-service technologies in its branches and leveraging digital channels as part of its digital transformation strategy.

Banorte is using key disruptive technologies to enhance its operational and service capabilities. Big data, artificial intelligence (AI), cybersecurity, mobile, e-commerce, and office of the future are the key themes under focus for the company. Banorte’s focus has been on tapping the power of analytics to build a customer-centric banking model and predict fraudulent transactions.

This report provides insight into Grupo Financiero Banorte’s fintech activities, including its digital transformation strategies, technology initiatives, partnerships, and product launches.

Scope

– In 2014, Banorte established the Analytics Business Unit (ABU), which focuses on using data analytics to better understand customers and take business decisions that can help the group increase profitability.
– In July 2018, Banorte – together with a group of companies and academic institutions including ALFA, Arca Continental, CEMEX, Deacero, FEMSA, IBM, NEORIS, Tecnologico de Monterrey, the Autonomous University of Nuevo Leon, and the University of Monterrey – established the Monterrey Digital Hub to create a digital transformation ecosystem in Mexico.
– In March 2013, Banorte signed a 10-year strategic agreement with IBM to create a new customer-centric banking model. As per the agreement, IBM will help Banorte implement big data and analytics technologies across the company’s customer service channels. Banorte has launched Virtual Assistant system for its internet banking customers, which is powered by IBM’s artificial intelligence solution Watson.

Reasons to buy

– Gain insight into Grupo Financiero Banorte’s fintech operations and strategies.
– Learn about Banorte’s product launches and partnerships in the fintech space.

Filed in: Banking & Finance
Publisher : GlobalData
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