“We are the gateway to the digitalization of money in Mexico,” with this phrase, Carlos López-Moctezuma, CEO of BanCoppel, summarizes the institution’s strategy in a country where cash still dominates a large portion of transactions.
The bank’s strategy is based on leveraging its physical presence to bring millions of Mexicans into the formal financial system while promoting digital tools.
“Mexico remains a very cash-intensive economy. Our task is to make it easier for people to start using digital financial services without abandoning the cash that is still part of their daily lives,” he explained in an interview with El Sol de México.
Unlike other fintech companies or digital banks, BanCoppel is committed to a hybrid model where the physical network is key to digitalization.
The bank operates nearly 1,900 Coppel stores throughout the country, which serve as points where customers can deposit or withdraw cash free of charge, facilitating the transition to using accounts and mobile applications.
“For many people, the digitization of money begins with something as simple as being able to deposit cash into an account and then use it digitally,” he noted.
This strategy allows users who have never had contact with the banking system to begin using tools such as electronic transfers or card payments.
The progress of this process is already reflected in the bank’s operational data.
During the last year, SPEI transfers made by BanCoppel customers grew by 40 percent, while card payments increased by 16 percent.
For López-Moctezuma, these figures show that the shift toward a more digital economy is already underway.
“People start by using cash, but little by little they adopt other payment methods. When you try it and it works well, you stick with the digital tool,” he commented.
One of the pillars of the bank’s strategy is financial inclusion.
In 2025, BanCoppel added 400,000 new customers who had never had access to the formal financial system. The goal for 2030 is to add three million new bank customers.
“The biggest challenge for the financial system in Mexico continues to be inclusion. There are millions of people who still don’t have a bank account, and that’s where we want to make a difference,” he stated.
For the institution, digitalization is no longer a differentiator but has become a basic requirement for financial services.
“Today, digital banking is a commodity. Customers expect to be able to do everything from their cell phones, from transfers to payments and inquiries,” the executive explained.
Therefore, the bank has focused its efforts on strengthening the stability of its mobile application and improving the digital experience for its users.
To drive this transformation, BanCoppel is modernizing its technological infrastructure.
The bank is working on migrating legacy systems to a more modern system, in addition to investing in cybersecurity, fraud prevention, and anti-money laundering systems.
“Cybersecurity is a constantly evolving issue. We must strengthen our systems to protect both the bank and our customers,” he noted.
Artificial intelligence is also part of the institution’s technology strategy.
It is currently being used to improve the productivity of software developers, optimize internal processes, and strengthen security monitoring systems.
“More than replacing people, artificial intelligence is helping us make our people more productive,” he explained.
However, López-Moctezuma believes that the biggest challenge of digitalization is not technological, but cultural.
BanCoppel has more than 30,000 employees in the financial area, so the adoption of new tools requires constant training.
“The biggest challenge is not the software or the technology, but changing the way we work and adopting these tools throughout the entire organization,” he concluded.
Source: oem
