The conditions for investment and growth in Peru prompted IBM to develop a center to provide microfinance services in this South American country.
Jaime Garcia Echecopar announced IBM's entrance into the microfinance sector.
Jaime Garcia Echecopar, general director for IBM in Peru, Bolivia, Ecuador, Paraguay and Uruguay, announced the launch of this project.
You have taken up positions in various subsidiaries of IBM in the region. Now that you are back in Peru, what are your thoughts on the Peruvian technology market? I have returned to Peru in a spectacular moment. Investment conditions are at their best. And we have human resources of the best quality. It's a special moment and precisely one of our strategies is investment focused on emerging countries.
Given this, what does IBM have in stock for Peru? Investment must be made in Peru. That's why the project that we announces last year to develop a regional hub for microfinance will be implemented this month. IBM has decided to invest US $20 million over the next five years for its first processing center for microfinance institutions in the world. We have thought about developing similar projects in India and Eastern Europe. Out of all, the first one that has been chosen is Peru due to the advanced and innovative microfinance it has.
What kind of services will you provide? We can manage the information systems of two million loans and deposits of these entities. Microfinance institutions will be able to access, via the Internet, their customer’s information and not have to face the initial investment in IT systems, which is necessary in this type of business. This will allow microfinance institutions to allocate resources to identify and analyze customers, and improve interest rates.
How have microfinance institutions responded to the launch? Will you provide your services to other countries in the region? We are implementing services for our first customer, the NGO Prisma, and we hope to announce some more in the coming weeks. This service has sparked interest in Ecuador and Bolivia.
How important is the Peruvian human resource for this IBM project? It is the basis. People are what make the difference in IBM and in any company. Peruvian professionals have superlative capacities for work and innovation.