MoraBanc Innovation Lab: the future begins now
News | 11.20.2017
The first MoraBanc Innovation Lab was held on 7 November at the Congress Centre in Andorra la Vella. It was attended by around 100 business people and company directors from Andorra.
Adapting to the digital environment, digital transformation and cyber security were the main issues discussed at this innovation lab.
The attendees were welcomed by Pedro González, CEO of MoraBanc, who highlighted the challenges of digital transformation for companies and the importance of adapting to the new scenario where the rules of the game for businesses have changed.
Gilbert Saboya, Minister of the Economy, Competitiveness and Innovation in Andorra, spoke of the crucial role innovation could play in the country and its desire to attract new digital initiatives so that it could become a hub for testing energy transition and digital projects applied to mobility and driverless vehicles. He talked about the various projects that are being carried out in the framework of a project called Compit, which is based in competitiveness, openness, the Andorra brand, innovation and cross-sector cooperation.
Xavier Gracia, a partner at Deloitte, and Samuel de Tomàs, an expert in cybercrime at the same firm, drew attention to the fact that digitisation has drastically changed the definition of security in businesses in terms of the frequency, complexity and purpose of cyberattacks. They pointed out that companies now had to put IT security media and plans of action in place against cyberattacks. In fact, many of these attacks specifically target senior management in companies to obtain confidential information and privileged access to it by taking advantage of their mobility, as well as of their personal and professional circumstances. Therefore, employees and senior management must be made aware of how to use digital medial properly.
Jordi Nadal, the General Director of Andorra Telecom, gave a presentation about the different innovations he had seen on his visit to the Massachusetts Institute of Technology (MIT) in the US. He told the attendees about future applications of technological innovation in Andorra through connectivity (from 4G to 5G), data processing and its speed, as well as cloud computing data storage.
Lluís Alsina, General Director of Business and Operations at MoraBanc, highlighted how these innovations and technological trends are affecting businesses because of the extremely significant changes in consumer habits. He said that the financial sector was not impervious to these changes and went on to explain how MoraBanc has made a firm commitment to innovation and digital transformation through the MoraBanc Digital initiative to be far more in touch with customers.
Finally, Juan Pedro Moreno, president of Accenture in Spain, Portugal, Andorra and Israel, made a speech on the idea of “digital vertigo”, the opportunities innovation gives us and new technologies to make progress, as well as on the challenges that businesses will have to face to survive in a hypercompetitive and turbulent environment, in which uncertainty must be efficiently managed. He raised the point that the key to the digital revolution were technology and disruption, society and the consumer, in addition to demographics and the generation gap.
Moreno concluded the lecture by reflecting on the power being taken by companies such as Amazon, Facebook and Google: “It’s interesting to note that all science fiction films have three things in common: firstly, that there is always a big corporation that rules over everything; secondly, that you never see anyone working; and, finally, that there is no democracy. Where are we heading?”.
Digital transformation has become a critical project at MoraBanc. MoraBanc Digital was launched as a result of this desire for change and is a clear commitment to financial innovation and to offering the best multi-channel experience in Andorran banking. Learn more about this important project through our website.
Information on the processing of personal data
In compliance with Law 15/2003 of 18 December on protection of personal data, the customer authorizes that the applicant’s personal data entered on this form will be incorporated into files owned and managed by MORA BANC GRUP, SA – MORA BANC, SAU (hereafter referred to as “MoraBanc”) to process the requested service and, if necessary, to comply with the contracts finally entered into, and also to ensure correct operational procedures.
The applicant expressly authorises MoraBanc to send him/her commercial and promotional communications for products and services and information on the Bank itself, social or other activities, in hardcopy by post or by electronic means (among others, short messages (SMS) to mobile phones, e-mail, etc.). This consent can always be withdrawn, without retroactive effect.
The applicant authorises the data provided to be communicated or shared with third parties forming part of the MoraBanc business group, entities which are primarily active in the financial, insurance and service sectors. The applicant is considered as having been informed of this transfer of information by means of this clause. The applicant accepts that he/she may be sent information on any product or service marketed by these companies.
The data processing manager is MoraBanc. The applicant is hereby informed that the rights of access, rectification, suppression or opposition may be exercised in the terms established in current legislation.