Among the many different subjects under consideration in the Argentine economy, it is important to increase the degree Banking population, which is one of the lowest in the world, with 15% of GDP, between one third and one half of what is recorded in the main economies of the region, and up to the sixth of what is observed in highly developed countries.
One of the consequences of this phenomenon is not only the poor development of the capital market, but also the absence of a clear culture of preservation in the institutionalized financial system with subsequent restriction of the distribution of loans to families and companies.
Consequently, it is not surprising that under the new policy pursued by the monetary authority, the Board of the Central Bank, headed by Guido Sandleris, decided to allow banking operations through additional agencies, usually called “bank correspondents,” in stores and stores. which are characterized by a large influx of public. It also complies with the AFIP policy for attacking informality and evasion.
“Bank correspondents can be created through agreements between banks and various networks of enterprises or organizations, such as, for example, car services, supermarkets, pharmacies, and state mail,” he said. The decision of the BCRA was authorized through its Communication A 6603,
“Of this measure, people will have an additional, simple and fast alternative to accessing services provided by the bank, allowing them, among other operations, to open an account, fix a term, make payments and receive loans in places where those who usually perform their daily activity, ”emphasize the sources of the Central Bank.
It is believed that this provision will be particularly conducive to those who live far from bank branches and are part of the constant goal of achieving greater financial integration. For example, cash withdrawals have already been implemented in supermarkets and other businesses that have been growing in recent months.
“International experience in countries such as Brazil, Mexico, Colombia or Peru has shown that thanks to this tool they can open new channels of access to the financial system. Banking services are becoming more efficient, improving the living conditions of less favorable segments of the population.and the development of small and medium-sized companies, ”noted the technical staff of the BCRA, to move forward with this initiative, which has matured in recent years.
Opening these access points to the banking system is also believed to improve payment processes for the more than 14 million benefits that ANSES performs every month, in many cases in areas where access is difficult to access. banking system due to the lack of branches of payment agents.
Another of the great attributes of expansion of the banking system through a commercial system is that it will minimize transaction costs and contribute to the formalization of the economy of the population with low demographic density, where coverage of the traditional banking industry is not reached.