José Luis Escrivá. 2024 Santander International Banking Conference
On June 27, 2023, José Luis Escrivá, Minister of Inclusion, Social Security and Migration of Spain, participated in the 2024 Santander International Banking Conference (SIBC).
The SIBC is an annual event that brings together key players in the banking industry to discuss current issues and trends. The 2024 conference focused on the theme of “The Future of Banking: Digitalization, Sustainability, and Inclusion.”
In his speech, Escrivá highlighted the importance of digitalization, sustainability, and inclusion in the future of banking. He argued that these three factors are key to ensuring that the banking sector remains relevant and competitive in the years to come.
Digitalization
Escrivá emphasized the need for banks to embrace digitalization in order to meet the changing needs of customers. He said that customers increasingly expect banks to offer digital services that are convenient, secure, and easy to use.
Banks that fail to adapt to the digital age will be at a competitive disadvantage, Escrivá said. Therefore, he urged banks to invest in digital technologies and develop new digital products and services.
Sustainability
Escrivá also stressed the importance of sustainability in the future of banking. He said that banks have a responsibility to use their resources responsibly and to promote sustainable practices.
ESG (Environmental, Social, and Governance) considerations are becoming increasingly important to investors, Escrivá said. Banks that can demonstrate a strong commitment to ESG will be more attractive to investors and customers alike.
Inclusion
Finally, Escrivá called on banks to promote financial inclusion. He said that everyone deserves access to affordable, reliable financial services.
Banks can play a vital role in reducing financial exclusion by offering products and services that are tailored to the needs of underserved populations, Escrivá said. For example, banks can offer low-cost checking accounts, prepaid cards, and small loans to people who may not have access to traditional banking services.
Conclusion
In his speech at the 2024 SIBC, José Luis Escrivá highlighted the importance of digitalization, sustainability, and inclusion in the future of banking. He urged banks to embrace these three factors in order to remain relevant and competitive in the years to come.
José Luis Escrivá. 2024 Santander International Banking Conference
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