Team size: 50

Could you share an example of a time when you came up with an innovation that improved how your legal team works and did not come at a large expense?

At Banco del Bajío we have looked at ways to simplify credit agreements for small and medium-sized enterprise, by the use of biometrics that identify customers and simplify the operability. This generates savings in money and time, which translates into a better answer time to our customers. However, many of the operations carried out by banks in Mexico are subject to a very strict legal and regulatory framework that limits the possibilities to innovate, but I believe that in the short term we will be able to do it safely, because it is the global trend.

What are some of the main trends impacting the industry sector you work in in Mexico?

Currently, the must impactful trends in the banking sector include the new technologies and the irruption of fintech companies in the financial ecosystem. Banks must develop new products, taking advantage of the digital transformation and the wide connectivity created by it, to be able to deepen the provision of services and make them more accessible to the largest number of possible users. In addition to the above, it is essential to guarantee the cybersecurity of transactions through safe digital channels. A great institutional and regulatory effort has been made to incorporate the correct identification of customers and users through biometric data and other security methods, but there is still much progress to be made.

How would you assess the impact of new technologies on the legal landscape in Mexico, and what measures would you propose to leverage these technologies while ensuring compliance with relevant laws and regulations?

New technologies are ever growing in Mexico, and they have great potential to impact the way in which in-house legal teams operate. However, there are still struggles with gaining access to the internet. A short while ago, only 75% of Mexicans had access to internet, which implies a very important digital gap. To the extent that this deficit is covered, access to financial services can be guaranteed to the entire population through digital channels. In a short time, many of the agreements that banks enter into with their customers will be able to be concluded through digital media, by use of electronic signature, as well as smart contracts. It is essential to generate a trust culture in technologies, guaranteeing the protection of personal data and the security of transactions, through a legal framework that currently does not exist in Mexico at all.

What is a cause, business-related or otherwise, you are passionate about, and why?

I am passionate about the possibility of participating in the structuring of financing that contributes to national and regional economy development, as well as the promotion of productive projects of all sizes, that generates employment and advancement opportunities. Banco del Bajío has participated in a very deep and consistent way into the financing of small and medium-sized enterprise, as well as in the agri-food and agro-industrial sector. Since I started working in Banco del Bajío 24 years ago, I have seen how the financing small enterprises impacts the lives of many people, through employment and opportunities that support the development of people. This allows me to realise the transcendence of my work and the value that banks add in the social development of my country, Mexico.