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Companies are immersed in a change process, so-called digital transforma-
tion, something which has already had an effect on other sectors and has now
come to the banking sector. Regulations such as the review of the payments
directive (PSD2) are going to promote a new concept of open banking. At one
end, the customer, who as the owner of their bank details can give them to
who they want - banks or other players such as so-called fintechs - and at
the other, a further deepening of the globalisation process which will have a
disruptive effect on large technology companies and lead to inter-bank digital
payment platforms.
As a wholesale bank, Cecabank will be called on to play a very significant
role in this process: it could be a complement to both banking and fintech
services, promoting cooperative competition between these players, and pro-
moting cross-border platforms in partnership with other international banks.
This is the framework under which we are making strides in Banking Services;
in the field of digital payments, platforms that can be accessed via APIs or
others, with a high level of specialisation and technology, to allow the market
to adapt faster to the change process mentioned previously.
Ultimately, it is our ambition to continue to grow as a specialist service provi-
der, through various pathways including the increasing internationalisation
of our activities. To do this, we have three levers: solvency, which has been
- and must continue to be - one of our distinguishing features; innovation,
which has led us to develop products and services at the cutting-edge of te-
chnology; and diversification, in terms of both income and client base. For the
latter, we wanted to take one step further with the Plan, and we aspire to offer
our services to corporates as well, and become a benchmark Equity House for
financial entities and managers on the Spanish market.
As you can see, we have a lot of work ahead, but I am unfazed: firstly, because
our team at Cecabank have shown us with the previous plan that they have
a high level of commitment, and in-depth knowledge of their subject; and se-
condly, because we have a highly-qualified Board of Directors who each bring
their own perspectives: as customers, as shareholders, and as serious experts
in the banking sector.
Our ambition is to
continue to grow as a
company
providing specialist
services, through
increasing
international
activities, among
other things.
Cecabank
2016 Annual Report
Page. 7