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MEXICO - Telecoms & IT

Alberto Rosati

Country MD Mexico & Leader for Spanish- speaking countries in the Americas, GFT

Bio

Alberto Rosati has more than 30 years of experience in IT, software, consulting, system integration, digital transformation, and cognitive business operation. Previously, he was head of banking and financial services Brazil at Tata Consultancy Services. He was also CEO Latin America at Tech Mahindra. Rosati has a bachelor from the Mackenzie Engineering School and has completed postgraduate programs in capital market and foreign exchange and in global business strategy.

"GFT is a German company with around 11,000 people globally."

As a pioneer of digital transformation, GFT develops sustainable solutions across new technologies including cloud engineering, AI, and blockchain.

In what ways is GFT using the Mexican market to expand in Latin America?

GFT is a German company with around 11,000 people globally. We are working in Mexico for around seven years, and we launched here focused predominantly on key clients within the banking industry; however, now we want much more. Mexico has become very important to our global strategy, mainly in the Americas region. We see three pillars of growth. First, we are focused on expanding our presence in the local market, enhancing our presence in the Banking & Insurance sector and opening new clients in other industries. The second pillar is nearshoring for the US and Canada, mainly, and supporting global accounts around the world, standing out, Spanish customers. Third, Mexico is a springboard for growth in other Latin American markets. From the outset, we have been focused on digital transformation, knowing that everything will be on the cloud and that the business that we used to see a few years ago was going to be disrupted. Some clients may be late in grasping this or else unaware of how to face the challenge, which is where our expertise comes into play.

What are the main challenges facing open banking when it comes to the Mexican legal framework?

We believe it is important for regulators to recognize the challenge open banking faces in Mexico. Unless they give us a clear idea of their take on matters, it is difficult to proceed. Some markets have significantly developed open banking that we could learn from such as Spain, the UK, and Brazil. These countries are defining standards, patterns, or the way of doing business, and these countries are working faster than in other countries. The regulator is key in this process. Open banking cannot rely solely on markets, it is not so simple because the culture is different. Yet, we believe that everybody or most of the country in the key important economies are going down this route. GFT leverages the knowledge that we built originally in Europe and Brazil where the market followed a well-defined roadmap for open banking. GFT has also created certain tools and accelerators for open banking implementation to support our clients in this area.

Apart from the banking industry are you looking to diversify into other industrial sectors?

Currently, GFT globally has around 70% of its activity in banking, 18% in insurance, and 12% in manufacturing and other industries. Here in Mexico, for example, we have strong a presence in banking and recently started important contracts with insurance and retail customers. We are pursuing all of them based on cloud solutions that enable these clients to transform their businesses. Insurance is seeing interesting and solid growth. If we compare Mexico to the US market in terms of the percentage of people having insurance products the figure is much lower. The potential for growth, therefore, is amazing. But it is important to see that many of the processes could be shared with another entity that provides services on the cloud. Sharing the investment and related information could help many businesses. GFT will be launching related project next March. We believe that the industry is changing and moving ahead and GFT wants to be the right partner in this transformation. GFT, still in the banking industry, believes in the new generation of digital banks. This is one thing that we are investing heavily in. For instance, GFT Mexico launched a center of excellence for digital banking solutions with the objective of training a large number of professionals, in partnership with software vendors of cloud-native core banking technology. We looked at the market and the current capabilities of the banking industry and came to the conclusion that working with the anywhere, anytime, next-generation digital banks solutions are the best path forward for the market.

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