Luiz Carlos Trabuco Cappi is slated to take over as chairman of the board of directors of Bradesco, one of the country’s largest private banks. In being asked what the major challenges for the bank will be over the next decade, he answered that one of the biggest problems facing not just Bradesco but Brazil as a whole is the large number of people who are still not reliably able to connect to the internet.
Trabuco Cappi has stated on infomoney.com.br, in an advanced, tech-based economy, as the one in Brazil is rapidly becoming, having large swathes of the population without the means to connect to the internet or even use a computer is a huge disadvantage. Beyond that, says Trabuco Cappi, it creates a terrible structural problem, severely hindering the productive capacity of entire sectors of the workforce.
One of the ways that Trabuco Cappi has suggested getting around this systemic problem throughout Brazil is by having companies create special programs for those who are not currently able to get online to get the devices, infrastructure and technical skills necessary to bring them up to speed with the 21st century.
Although there have not been any concrete statements made by the bank itself, many close to Bradesco believe that the bank may soon start running some kind of special promotion to get its estimated 13 million customers who are not online the help they need to begin living a connected life.
Read more: Bradesco: New president to leave executive body, says Trabuco
Connecting to the internet in Brazil was expensive just a decade ago. But over the last ten years, the costs associated with connecting online, even in the most remote regions, has plummeted enormously. This means that the only real barrier to getting people online and learning to handle their business through web-based applications and services is the will to do so.
Trabuco Cappi explains that the bank wouldn’t just be doing its customers a favor by seeing to it that they were able to connect online. On the contrary, Bradesco, as one of the earliest adopters of high-tech banking solutions, has long been collecting extensive data on the cost differentials between brick-and-mortar activities and those handled online as well as the savings associated with well-designed web applications. In some cases, encouraging customers to use web-based banking services in lieu of in-person services can save the bank as much as 90 percent. Currently, the bank estimates that 13 million of its 27 million customers are not able to access online banking services at all. This means that the cost reductions could be potentially huge, should Bradesco find a feasible way to bring all of those 13 million clients online.
While nothing concrete has been laid out, it would be a good bet to expect such initiatives to take a leading role at the bank over the next ten years. As Trabuco Cappi eases into the role of chairman of the board and begins directing the bank’s broad strategies, many analysts say that shareholders can expect the bank to take an even more tech-heavy approach to its business. Trabuco Cappi has long been one of the staunchest advocates of the adoption and development of high-tech solutions. That is unlikely to change anytime soon.
It is already widely rumored that his replacement as CEO will be the bank’s current chief IT officer, Mauricio Minas. The 56-year-old has been with the bank for just five years. But over that time, he has done more than any other employee to ensure that Bradesco ranks among the most technologically advanced banks in all of Brazil.
Regardless of who is ultimately appointed, it is a good bet that Bradesco, under Luiz Carlos Trabuco Cappi’s strategic leadership, will keep betting on tech.
Find more about Luiz Carlos Trabuco Cappi: http://www.istoedinheiro.com.br/noticias/negocios/20151218/luiz-carlos-trabuco-cappi-empreendedor-ano-nas-financas-2015/327856