The start of 2021 looks challenging. On the one hand, we have left behind a terrible year—the year of the COVID pandemic—which has left such enormous economic and social scars. On the other, we hope this year will be infinitely better than the last thanks to the new vaccines developed, which mark the beginning of the end of the pandemic. Once again, technological progress has brought hope to a humanity cornered by nature. That is precisely what elevates humankind: its ability to invent and use tools, whether they are mere stone spears or sophisticated software programs.
In fact, technology not only allows us to glimpse the end of the pandemic, but has also helped to minimise its impact. And I am not referring only to e-commerce in goods, but to the provision of services through remote channels. In the case of banks, although they remained open at all times as an essential service, customers were able to carry out transactions through digital applications with complete normality, twenty-four hours a day, seven days a week. And the prevalence of remote services has also made it possible for large segments of the population to work from home, for our young people to continue their education, and for family and friendship ties within our communities to remain intact.
Despite this life-saving role of technological progress, there is a resurgence of sceptical views about the function of technology, which we can describe as neo-Luddism. There may be two origins to this current of opinion. On the one hand, there is the melancholic feeling that makes us long for a past that always seems better. That feeling would explain, for example, why the virtual keyboards on our electronic devices imitate the sound of old typewriters. On the other hand—and this argument is even more relevant—the lifestyle of modern societies prompts a certain, or even strong, rejection because it is not only at the root of processes such as COVID zoonosis, HIV, Zika or Ebola, but also of climate change with unpredictable consequences for humanity.
Although that reaction against the consequences of our current lifestyle can be understood, and even shared, it would be a grave mistake for the need to correct those effects to inevitably entail a rejection of technological progress. On the contrary, the only way we can transform our societies and economies is precisely by supporting technology and scientific advancement, which enables not only innovative vaccines against emerging diseases but also a more effective fight against climate change through new ways of generating clean, sustainable energy. Technical progress, and its proper use, is undoubtedly the answer to the world’s major challenges.
For all these reasons, we cannot afford to fall behind. As a society, because without technical progress we will not be able to respond effectively to the challenges that will arise in the medium term. It is no coincidence that the European recovery plan, which lays the foundations for Europe’s future economy, focuses on the green revolution and digital transformation.
As companies, because if we want not merely to be profitable, but to survive, we must embrace that revolution. Consider the banking sector: does anyone truly believe an institution could endure without a digital app that allows customers to operate in a 24/7 environment? No, of course not: after all, the development of digital channels has been driven by our customers, who wanted to operate in a simpler, more efficient and continuous way. In fact, lockdown has accelerated our customers’ use of these digital channels exponentially.
For citizens, this transformation process demands challenging learning and upskilling. No one, however, can be left behind, because that would affect not only opportunities to find work but personal fulfilment itself—that is, the ability to learn, access information and connect with others. This requires a major effort to adapt on the part of everyone: citizens, businesses and the public sector. These three spheres must share responsibility for ensuring that technology education and the provision of digital services, through broadband internet, are accessible to all citizens—physically and financially—regardless of where they live or how old they are. No one can be left behind because they lack the means and knowledge. If someone uses a typewriter, let it be because they choose to, not because they do not have a computer or do not know how to use a word processor.
We must also consider how to preserve personal contact in the cold digital world. In our sector, that role is played by bank employees, who continue to provide customers with the personal, close and tailored service that is so sorely missed when the branch moves a few metres further away or closes its doors. Despite this quiet and indispensable work by bank employees, they have always been the great forgotten ones—and especially so now, during the health crisis. At the worst of the pandemic, they were there, on the front line in branches, serving customers—individuals and the more than half a million companies that ran out of liquidity when they had to close their doors. Yet it is painful not to hear a single word of thanks, not even a mention, when the many groups of workers who assisted us during lockdown and continue to do so are cited.
Ultimately, although we may understand the resistance of these new Luddites, as societies, companies and individuals, our future depends on making good use of the opportunities offered by technological progress. That is the banking sector’s commitment: to use technology to provide our customers and society with financial services that are more efficient, accessible and affordable. And, whether we like it or not, it is the only possible commitment.
José María Roldán, Chairman of the Spanish Banking Association
