IBM and Chamber of Fintech partner to transform banking in Argentina

Contxto – Like a lofty diplomatic tech mission, the U.S. multinational computer hardware developer IBM has partnered with the Chamber of Fintech in Argentina to support disruption in the country’s technology and banking sectors.

To pan out, IBM will reportedly provide the agency with cutting-edge resources for Argentina’s up-and-coming fintechs. This will include new training material, courses, workshops, as well as seminars.

All the while, participating organizations will have access to IBM’s Public Cloud technology through the “Startup with IBM” entrepreneurial program.

Equipped with the cloud-based domain, IBM plans to provide over 130 different services to affiliate companies. In turn, this will provide access to various tech platforms such as IoT, blockchain, Big Data, analytics, Machine Learning, AI, as well as security provisions.

As part of Startup with IBM, entrepreneurs will also develop their own products and services with IBM’s suite. Apparently, they will even be eligible to obtain subsidized credits while earning up to US$120,000 annually.

“We are very happy to join IBM in this journey of development and strengthening of our industry,” said Mariano Biocca, general coordinator of the Argentine Chamber of Fintech. 

“Fintech companies are leveraging on technologies that allow robust growth. So, having a partner like IBM is strategic to empower startups in our chamber, giving them access to more and better technology.”

Fintech and banking in Argentina 

While this collaboration yields major potential to stimulate entrepreneurial growth in Argentina, IBM has been around for nearly a century. Especially active among Argentine banks, now the tech conglomerate intends to up the ante. In other words, solutions for both traditional and alternative banks.

“IBM has accompanied the transformation of the banking sector for more than 96 years in Argentina,” said Agustín Gattas, sales director of IBM Argentina. 

“Today, the market and clients demand more agile, secure and personalized solutions. That’s why we need greater integration between the entire local digital banking ecosystem, including traditional banks and fintech startups.”

In sum, Gattas predicts that this alliance will fortify operations for local enterprises. Realizing Argentina’s potential, he hopes that IBM’s involvement will make innovation, acceleration and scaling more tangible for national fintechs.

IBM in Latin America

Also within Argentina, the tech giant collaborated with S4 to transfer the country’s food chain into a blockchain. This way, industry players can more effectively monitor resources and mitigate risks.  

On a different note, IBM has also been active throughout the region. A few months ago, for example, it partnered with Laboratoria from Peru to support the next generations of female techies.

All things considered, perhaps 2020 will be the year that Argentina becomes the innovation hub it aspires to be. 

-JA