I’m back and well rested! I’ve just concluded another busy day of meetings here in Chile and I must admit that Santiago, with it’s unique flair for technology, is really growing on me… I’m loving the spring weather here in this beautiful and vibrant city.
You’ll recall from my last Chilean post that the region is now referred to as “Chilecon Valley” due to it’s rapidly growing technology sector. After spending quite a bit of time on the ground here, I’m now seeing another interesting trend. A key area that the banks are looking to address with new technology revolves around financial literacy. It is a very serious issue for Chile, with a recent report on emol.com stating that “over 47% of Chileans are in debt with 30% of Chileans in ‘out of control’ debt.” In addition, a PISA survey notes that just 3% of Chilean students have a financial education level equal to or less than one on a scale of five.
With that in mind, it’s easy to see why Santiago is such an interesting place for Moven. Our technology is designed to drive financial awareness and ultimately help customers achieve financial wellness. In the United States, there is a comparable problem with obesity which technology is trying to impact with the likes of FitBit and other new market entrants. We see Moven as a similar solution, think of it like FitBit for your wallet.
Well… that’s another 14,000 km for me, by the time I get home. For now though, I’m off to enjoy a glass of Chilean red and some delicious food. Stay tuned for the next post from the Moven Enterprise team.
Until next time,