Banorte, one of the largest financial groups in Mexico with the broadest business diversification in the market, has been named as Best Retail Bank in Mexico 2021 by World Finance in recognition of its customer focus and digital transformation efforts.

The award recognizes Banorte’s superior response and adaptability to challenges amid the pandemic as Banorte’s a digital-first strategy has kept its customers safe, allowed operations to continue and boosted the economy.

While keeping sustainability at the forefront of the efforts, the bank’s commitment to digital innovation is not only pioneering a new era in banking but also helping financial institutions forge a more economically and environmentally sustainable future.

“Digital transformation is a part of our commitment to people. But it must come alongside a sustainable recovery of the economy that banks must ignite. So our mission is very clear. Mexico needs a bank that works as the engine to that recovery, and that bank is Banorte,” Chairman Carlos Hank González said in a commentary piece in World Finance magazine.

World Finance said that preparing for the future is a concern for all banks, but its latest award winners were especially notable for their visionary business approaches.

“All the winners have demonstrated years of best practice and are in an ideal position to face the challenges ahead,” it said.

Banorte has hyper-personalized its services to the channels that best fit its customers. Today, almost 6 million of its clients are digital, and digital transactions have increased 92% through its mobile app since 2020.

“We believe that hyper-personalization is the key to the best banking experience. In 2021 we signed an alliance with Google Cloud to continue improving our platforms through cloud technology, artificial intelligence, and analytics,” said Banorte CEO Marcos Ramírez.

“But we have all options available. Some still value traditional banking, so we’re combining branch services with our digital offer. In this regard, we are continuously enhancing processes across the organization to improve efficiency. So, our collaborators better input their time to provide value-added offerings to our customers,” he said.

It’s not just the digital products that have aided customers during the COVID-19 crisis.

Banorte become the first bank in Mexico to offer its customers a loan deferral program in response to the pandemic. The program allows for deferrals on payments from four to six months, providing customers with buffer time.

Nearly two years since the start of the pandemic-induced lockdowns, the world is ready to move toward recovery. Within the banking industry and many other industries, progress has been rapid, effective and driven by need – a need to be better for the industry and the changing times.