In this edition of SCALE Chronicles, we speak with Demetrio Strimpopulos, one of the important figures in the FinTech industry in Mexico and director of BanregioLABS: a division of Banregio that focuses on developing products and services based on financial technology.
Banregio is a 100% Mexican bank with 24 years of experience, founded by Manuel Rivero Santos in one of the cities with the highest industrial investment: Monterrey. The bank grew rapidly from the beginning through specializing in loan services to SMEs. Two years later they opened their first branch across state lines, in Coahuila, and now they are present in 22 different states of the country.
In Mexico, it is one of the most solid bank options for small and medium-sized entrepreneurs, offering funding and specialized advice in many areas. Meanwhile it maintains a firm commitment to FinTech innovation through BanregioLABS.
Due to its trajectory and strong innovation strategy, Banregio joined Startupbootcamp innovation programs in Latin America as a partner: both for our acceleration (Startupbootcamp FinTech Mexico City) and scaling program (Startupbootcamp Scale FinTech Mexico City).
Banregio, in its commitment to innovation, has created different digital products from new models of customer service, to methods of payment, to tools that help people develop financially responsible behavior.
In an interview for SCALE Chronicles, Strimpopulos shares some tips aimed at any entrepreneur interested in collaborating and working with a bank:
- The startups need to provide the same level of service to customers as the bank.
“We, on our part, must understand what the entrepreneurs are looking for with their venture, so that we can establish a partnership and grow our customers base and so that is profitable for both” explains Demetrio.
- The most desired abilities:
For Demetrio it is important for entrepreneurs to be resilient and open to working with different actors, to be transparent, to have an understanding of their own business and, above all, a global vision.
“These are things that I think are valuable for the entrepreneur to have as tools or assets, in order to be able to create this relationship with other entities, banks, accelerators or other types of corporate institutions”.