Multi-speed innovation
Grupo Sura CEO David Bojanini (center). Photo: FNPI/Flickr

Grupo Sura CEO David Bojanini (center). Photo: FNPI/Flickr

5th October 2017

Grupo Sura, one of the largest managers of savings in Latin America, tells a realistic story of technological change.
Corporate change moves at different speeds in large Latin American corporations. Not due to the lack of vision or knowledge of opportunities on the part of some CEOs, but to a simple, sound business reason, which cyberoptimists often forget.
“It happens everywhere. The world is changing, but traditional models are still valid,” CEO of Colombian Grupo Sura, David Bojanini said in an interview with Latin Trade. New business models are gaining acceptance and market space, but their advance is a slower process than many want to believe. “Firms find it difficult to rid themselves of models that are still successful and profitable,” Bojanini claims.
Grupo Sura is the largest manager of savings in Latin America ex-Brazil. From being a rather unknown, 70-year old financial and manufacturing group in Colombia’s second largest city, Medellin, Grupo Sura jumped to its current position with an audacious string of acquisitions from Dutch ING, Panamanian Banistmo, and Britain’s RSA.
Big financial entities, Bojanini notes, can still do more of what they have been doing for decades. Fintech startups might be a threat to parts of their business, but not to the whole structure.
To set their strategic course, Bojanini, his Board of Directors and top managers, have made it a key objective to understand their consumers, which are now faced with profound technological, …

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