South America, and Brazil in particular, are going through a huge set of changes in the banking sector. Most recent example of HSBC’s decision to sell off assets in Brazil (and Turkey) are only a single indicator of unique market conditions and influence of global interconnectedness. With government banks accounting for roughly 50% of market share, private and domestic banks (being in the second position with roughly 35%) are actively going after foreign private banking assets. Keep an eye out on who will purchase HSBC’s assets in Brazil. With that as an intro, did you know that roughly 40% of Brazil’s population does not have a bank account? This spells a huge opportunity!
A few months ago I was invited to contribute as a presenter at this year’s CIAB Febraban banking technology forum being held in June in Sao Paulo, Brazil. This was the forum’s 25th anniversary, however my first. Given the amount of adoption and industry insight around benefits of converged infrastructure it was a great opportunity to share unique perspectives and lessons learned from successful technical use-cases.
My last week’s presentation, which is comprised of 2 sections (sampling of successes and our unique approach to solving Big Data challenges) is now available. It reflects a set of materials from a number of team members that I’m proud to have worked with and represented at the event. Special kudos to members of Brazil’s VCE team for their hospitality and warmth.
As always, thoughts and feedback are very much welcomed.