What would a world without banks be like? Alternatives for obtaining a personal loan could surely be found, although likely without the guarantees, security, and transparency that banks offer. Purchasing a primary residence would be much more complicated. It would be nearly impossible to maintain the current percentage of home ownership among families in the future, which exceeds 80%. Life would also be more difficult for SMEs, as more than 75% of the external financing they receive comes from banks. In a world without banks, it would be reasonable to expect a deterioration in access to financial services. Currently, Spain is one of the European countries with the highest percentage of the population having access to these services. <\/p>\n
Banks are the circulatory system of the economy and play a key role in the prosperity of society. They prioritize sustainability in their operations, thus combining the triple social, environmental, and governance objective. They listen to society and adapt their actions, always prioritizing the security of their customers’ personal and financial data. Digitalization is another example. It is not about innovating for innovation’s sake: the goal is to provide better customer service, accompany them in the digital transformation, and help them benefit from all the opportunities it entails. Banks are accustomed to operating in a highly competitive environment, although they demand that this be carried out on a level playing field for the good of the consumer. <\/p>\n
What will the future of banks be like? They will adapt their business model to continue offering the best service to consumers, as always, because the future of banks is connected to that of their customers. To make this possible, they need to have adequate profitability to guarantee their stability. They also require regulatory certainty and legal security. <\/p>\n