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Why a Bank Built a Fintech to Compete With Itself
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Bancolombia built a digital bank to compete with itself. It now serves 24 million customers.
Many U.S. bankers still think of Latin America as a region catching up. Fidel Vargas, Chief Information Officer of Bancolombia, says that's the wrong lens. Inclusion, fast digital adoption, real-time payments, and a wave of new competitors, from Nubank to Revolut to Mercado Pago, have forced Colombia's largest bank to innovate at a pace few U.S…
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