In recent days, various media outlets have asked me several questions which, although different from one another, have something in common: they seek to anticipate the future of banking activity. In one case, questions focused on digitalisation as a true revolution for the sector. In another, on robotics in general and how it affects employment and the service provided by financial institutions. I have also been asked, as could not be otherwise, about the new competition posed by fintech or crowdfunding today and the possible future entry into the financial business of major digital operators. Have I been asked about regulatory impact? No. Perhaps because much has already been written on the subject. Perhaps because a growing view is beginning to emerge among our authorities that we have gone too far, and too fast, in regulatory changes. No one is talking about reversing the measures taken. But many are already calling for a pause to assess them calmly.
What has my response been to so many important questions? Above all, a great deal of common sense. And something obvious: banks are at the service of the customer, meeting current demand and anticipating future demand. This means that any decision they make is conditioned by whether it is useful for the customer, their true reason for being. And in the case of growing competition from non-financial entities, acceptance that they represent a catalyst for the sector. Banks have innovation in their DNA, as they have demonstrated throughout their history. In the specific case of Spanish financial institutions, their good service and their adaptation to complex domestic and international scenarios are, without doubt, the best proof of their ability to always change for the better. Anyone who has lived outside Spain and had to use financial services can confirm the high standards of Spanish banks in our country.
