Innovation transforms society and the economy. It is the response to humanity’s great challenges, due to its capacity to move us forward and improve our quality of life. Although it requires an initial effort of adaptation, this is a small cost compared to the advantages it can offer us in our daily lives.
The advancement of science and technology is helping us overcome the greatest health crisis in our recent history while preparing us for a better future, perhaps one in which we use new forms of clean and sustainable energy generation.
In business, innovation not only improves management, efficiency, and productivity, with higher-quality products and services at more competitive prices tailored to the needs of an increasingly demanding customer; it is essential for the survival of companies in a global world where competition transcends borders.
In society, innovation is fundamental to achieving greater prosperity, both social and economic, and its clear reflection is digitalization, which has gained greater prominence in our lives with the pandemic. It guaranteed our communication and prevented work paralysis during the worst moments of lockdown, and is helping us defeat the virus through a coordinated scientific response on a global scale.
We have all been able to access public and private services when the health situation imposed restrictions on in-person service. Banks have guaranteed the provision of financial services to customers through their multiple communication channels thanks to their firm commitment to digitalization in service of customers who demand it, whose benefits are evident in sectors as diverse as commerce, finance, media, and transportation.
Moving forward requires effort from everyone, not only from companies, which must invest in their digital transformation to compete in an increasingly connected and transparent world. Also from citizens, who face their personal adaptation process to access, for example, a large part of public services. The digital empowerment of society is a common challenge that requires the unequivocal drive and support of authorities, responsible for ensuring that no one is excluded from public services.
All these adjustments and reforms require financing. Spanish banks, as always, are prepared to provide it, and put all their financial and human resources at the service of their customers in order to contribute to the prosperity of society as a whole. Bank financing and the channeling of European Next Generation EU funds are a great opportunity to finance the challenge of digital transformation and successfully address this and other immense challenges, such as environmental preservation.
The world is changing and we must all prepare to make the most of the great transformations we are experiencing. Society’s awareness of the need to fight climate change and improve its digital skills are key to facing the future as prepared as possible. Companies must also be aware that they will have to compete in a more digital and connected world, in constant evolution. Because we need a productive and resilient business sector that translates into more and better employment. And a Public Administration that facilitates and drives all these changes effectively and efficiently, positioning us in the best position to continue increasing the well-being of our society.
José Luis Martínez Campuzano, Spokesperson for the Spanish Banking Association
