MEXICO CITY and ARMONK, N.Y., March 12, 2013 /PRNewswire/ -- Grupo Financiero Banorte (BMV:GFNORTEO - OTCQX:GBOOY) and IBM (NYSE: IBM) announced today the signing of a 10-year strategic agreement that will allow the Mexican financial institution to create a new customer-centric banking model, while substantially improving its efficiencies to achieve levels close to 40% and return on equity above 20%.
The agreement – based on the solid growth of Grupo Financiero Banorte – seeks to create a scalable and sustainable platform to achieve world class efficiencies as well as high attention levels and segmentation, retention and contact schemes with its clients, through existing channels and others to be developed. This agreement establishes an unprecedented transformational relationship in the Latin America banking industry.
The partnership considers the establishment of a very solid corporate governance model, which – according to the progress – will monitor the investment in new projects and the re-routing of existing spending.Banorte–Ixe seeks to become the bank with the best customer experience and service not only in Mexico, but also around the world, leading its sector and setting an example of innovation through smarter use of advanced technologies. Banorte-Ixe's goal is to deeply understand its clients' needs and offer a superior customer service to its more than 20 million users through business analytics solutions. Most importantly, the goal is to develop and offer personalized products and services better suited for each customer's unique condition. IBM will enable Banorte–Ixe to differentiate the company to better utilize Big Data, analytics, cloud computing and social business. The advantages of the deal extend beyond transformation of the company's customer service model, as the joint work of both companies will help Banorte–Ixe improve organization-wide efficiencies and market share, as well as allow the rapid achievement of its strategic goals involving improved revenue and higher profitability, in a unique global partnership model.