Financial system modernises and strengthens security mechanisms Banking | THE UNIVERSAL

From March 2019, the use of biometrics (fingerprint) and face recognition to implement certain procedures and purchase financial products will no longer be an option to become an obligation.

The use of these technologies will be part of the modernization process and the security of the Colombian financial system announced yesterday at the banking convention by Jorge Castaño, the Chief Financial Officer.

Biometrics will be a validation or authentication mechanism to process some products or services.

The official also announced the approval of the unique number of financial identification, which will make the procedures for the users of the financial system more agile, as that will only be able to migrate information from the customers from one entity to another or products or can acquire services in a simpler way without the same information being requested from the client within the financial system.

Another new feature is the introduction of a single processing for the receipt and processing of petitions, complaints and resources (PQR) from the financial sector. It will be a unique mailbox that will be responsible for the intelligent management of the PQR, sending it to the respective monitored entity and verifying that it is being answered in the terms of the law.

The Asobancaria also launched yesterday the first Cyber ​​Incident Response Team (CSIRT, for the acronym in English), which is defined as a workgroup that will respond quickly to threats in cyberspace. The bank receives almost 40% of the total cyberspace attacks, corresponding to 214,000 attacks per day, revealed the president of that association, Santiago Castro.


Finance Minister Alberto Carrasquilla said on Thursday that, in line with his economic reactivation plan, tax collection should be increased and the system fairer, so he suggested taxing the entire family basket. (Read here: MinHacienda proposes to tax all products of the family basket)

"There are many products with exemptions, therefore the proposal is to tax the entire family basket, and the possibility of using mechanisms for the redistribution of value-added tax (VAT) for the poorest should be discussed," he said during the Cartagena Banking Convention.

Faced with this redistribution, Carrasquilla explained that a large proportion of the subsidies and exemptions in the payment of value-added tax benefit the sectors with the highest incomes, "therefore the VAT regressivity with refunds for vulnerable households be mitigated. "

The minister said, after having quoted a study from 2013, that while a household in the poorest decile of the population saves an average of 18,000 pesos for VAT exemptions, the savings in the highest decile would amount to around 278,000 pesos.

"Then you have the logic to say that you can give funds back to households in deciles 1 and 2 and that money is taken from the money that households would pay in decile 10", explained the official, and assured that it would be possible today is to make allowances to the most vulnerable population. (Colprensa).

Colpensiones started looking for 400 thousand of his pensioners who are not invested to enter the Colombian financial system and improve their quality of life.

The president of that pension administrator, Adriana Guzmán Rodríguez, made the announcement yesterday at the end of the installation of the Banking Convention 2018. "This pedagogical campaign tries to encourage pensioners to use the necessary technological tools that guarantee peace, security and well-being. each of your bank transactions. "

This manager has 1,300,000 pensioners, 900,000 of which have been paid to date and the goal is to have a bank account of 100%.

Of retired pensioners, 35% are now with Bancolombia, 15% with Banco Popular, 16% with BBVA, 11% with Caja Social, 5% with Davivienda, 6% with AV Villas, 5% with GNB Sudameris, among others.

A large proportion of the retirees of this administrator charge their pensions through the window. The largest volume is Banco Agrario (89,240), Banco Popular (76,725), Occidente (60,130), Bogotá (63,853), Bancolombia (30,683), BBVA (45,271), GNB Sudameris (20,679) and Money 472 (14,266).

Today they are exempt from the collection of the management fee, on the bank card, more than 200 thousand pensioners, but 100% of the pensioners are expected to be paid.

Some advantages for retired pensioners are:
– Receive the payment of your pension without going to the banks' offices.
– Save money on your savings account, in addition to other benefits, such as the 4×1000 exemption granted by law.

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