Afore Banorte October 2020

Afore XXI-Banorte: delivering on the promise of services IN ASSOCIATION WITH

AFORE XXI-BANORTE

DIGITAL REPORT 2020

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Afore XXI-Banorte: delivering on the promise of services

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Rodrigo Becerra Mizuno, CDO/ CIO, explains why technology can improve customers’ lives and how Afore XXI-Banorte became one of the best funds in Mexico

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here are many paths to reaching the distinction of being among ‘the best’ in a given industry: some favour customer-

centricity, others opt for a more technological approach or one that emphasises outstanding company culture. However, an elite species of 04

organisations have the vision and temerity to wed all three together and Afore XXI-Banorte is unmistakably part of this distinguished class.

It was with pleasure that we welcomed back Rodrigo Becerra Mizuno, Chief Digital Officer and Chief Information Officer, who last spoke with us whilst still at PEMEX. Having joined XXI-Banorte in 2019, Mizuno says that he was looking for an opportunity to put his considerable technical experience in the public and private sectors to new use.

“At the start of my career technology was still seen as a ’back-office function’,” he explains. However, as digital transformation continues to redraw the landscape of so many industries, the world of finance has naturally undergone some changes of its own and amongst these Mizuno saw the chance to make a positive impact. “It’s a highly regulated

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Digital Transformation Roadmap CLICK TO WATCH

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“ By [...] investing in the right technology, we hope to create comprehensive protection programmes for our employees” — Rodrigo Becerra Mizuno, CIO, Afore XXI-Banorte

that we need to follow whilst also factoring in engagement. In my opinion, we have to present a customer experience similar to retail and it’s been a lot of fun doing that.”

Mizuno’s credentials as a tech expert are attested by his previous tenure as an executive at Microsoft, a valuable experience which he says continues to influence his vision and leadership at XXI-Banorte. “I heard a very famous quote from Bill Gates: ‘We need banking. We don’t need banks anymore’.

What that means to me is that the idea

of financial services or banking has

of technological innovation, Mizuno is

changed after a long time of remain-

confident that the future of finance will

ing static.” As regulatory restrictions

belong to those who are willing to shape

become more flexible as old operating

it themselves. “You make the role, the

paradigms are reevaluated because

role doesn’t make you,” he emphasises.

E X E C U T I V E P R O FILE :

Rodrigo Becerra Mizuno Title: Chief Information Officer

Company: Afore XXI-Banorte

Industry: Pension Management

Location: Mexico

Mr. Rodrigo Becerra Mizuno served as Chief Information Officer and Corporate Vice President at PEMEX. He led one of the largest digital and business transformations in Latin America. This highly visible initiative allowed him to be awarded with the 2018 HITEC 50 and to be recognised two consecutive years as one of the Top 100 CIOs in Mexico by CIO Magazine for his outstanding performance in Pemex. He has held various senior leadership roles at Microsoft Corporation including Global Public Sector Manager, Managing Director Global Government Industry, and Public Sector Director Asia based in Singapore. Since October 2019 he serves as Chief Digital Officer for Afore XXI-Banorte, the largest fund in Mexico and Latin America. In 2001, he served as Advisor to the Finance Minister of Mexico. He earned a Bachelor’s Degree in Economics and International Relations from Boston University and an MBA in General Management and Strategy from the Tuck School of Business at Dartmouth College in New Hampshire.

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Copyright © 2020 Accenture. All Rights Reserved.

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Cloud and Data Analytics CLICK TO WATCH

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In line with this thinking, Mizuno has

In addition to XXI-Banorte’s cultural

refocused XXI-Banorte’s IT department

agility, the core tech enabler for this

from its previously “reactive” state to a

swift transition was incontestably

far more strategic and ROI (return on

the cloud. It is this aspect, Mizuno

investment) focused entity. This, in turn,

argues, that is and will continue to

has made the entire company much

change the shape of finance to come.

more agile, which became invaluable

“Cloud is transforming XXI-Banorte; it

when the COVID-19 pandemic reached

is the cornerstone of what allows our

Mexico and introduced the now all-too-

information to be stored, processed

familiar operational challenges of social

and delivered, while also allowing new

distancing. “We were able to digitalise

applications to flourish. In terms of

and enable practically everybody to

cost efficiency, it was not practically

work from home in less than 48 hours,”

viable to do the things we can do now

states Mizuno.

with the cloud, because before that

2012

Year founded

$379M+ Revenue in US dollars

their strengths, reconfiguring project work from “marathons” to “sprints” (reflecting the more fast-paced structure of the company) and exploring the use of technology to benefit both employee and customer processes.

Moreover, Mizuno hopes to explore tech innovations which have yet to be fully realised in banking, such as

150

Number of employees

unlocking the full potential of data analytics and developing even greater cybersecurity capabilities. Regarding the latter point, he notes that Mexico has only recently made the presence of a Chief Security Officer mandatory,

we used huge national data centres that were highly expensive.” Its utility has given cloud an important place in XXI-Banorte’s ongoing digital strategy, but that isn’t the end of the story; since October 2019, Mizuno has been developing what he calls a ‘3.5-year digital roadmap for transformation’, something which he hopes will achieve a more unified future for the company, “You could look at it as working towards one vision and a singular platform,” he explains. In practice, this meant consolidating teams based on www.x x i - ba no r t e. com

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A F O R E X X I B A N O R T E PA R T N E R S

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Success in any field does not belong to one individual or entity alone. XXI-Banorte realises this and only seeks collaborators which are as productive, technically savvy and hungry to learn as itself. Three companies have earned distinction in XXIBanorte’s view as contributing particularly valuable services: Accenture, Microsoft and Telmex.

Accenture: ”Accenture is one of the only companies which has a truly holistic approach; it doesn’t just master technology, it also masters processes and what it takes. For us, its been a great partner: it helps us be diligent and plan how to bring things together through data management and enabled Banorte to be a data-driven organisation.”

Microsoft: “We run all of their productivity applications and they’re our cloud provider too: Azure. One of the key capabilities we need is to outreach potential customers and having those tools is essential. Microsoft provides these.”

Telmex: “We’ve had the opportunity to work with Telmex on our infrastructure. XXI-Banorte has been on a learning curve to make sure that we spot the right things together whilst also ensuring operations are not being hampered by too much security or too little.

Also, on the infrastructure side, we’ve started migrating our data with them. Overall, Telmex has been a fantastic collaborator, both in terms of security and structure.”

but that XXI-Banorte is already ahead

this, Mizuno makes it clear that a

of the curve in bolstering its cyber

well-developed workplace culture

defences. “We’ve been spending a lot

remains one of XXI-Banorte’s primary

on training people and we’re going to

concerns and singles out CEO Juan

continue to do so: we want to have the

Pablo Newman for special praise in

right people with the right certifica-

this regard. “He’s also an extremely

tions. By also investing in the right

approachable person and very driven

technology, we hope to create com-

by results. I think it’s especially impor-

prehensive protection programmes for

tant to have that vision in the company.”

our employees.”

Deftly handling the COVID-19-related

However, when it comes to digital

disruption with an always people-

transformation, an often overlooked

centric attitude, Mizuno states that

aspect can be the accompanying

Miguel has successfully conveyed

cultural shift which it entails. Despite

the message that XXI-Banorte is

Cyber Security CLICK TO WATCH

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truly a company that cares. “He has been very protective of people and we are still delivering some of the best results in the industry; it’s that fantastic combination which gives people a lot of trust.” Indeed, with the company maintaining its status as one of the country’s most beloved financial institutions, some might question how XXI-Banorte can maintain its competitive edge. For Mizuno, it comes down to a simple formula of quality, care and staying true to 14

the organisation’s proudly Mexican roots: “Providing a great service and making sure that you differentiate as

“ Technology is a never ending journey and, in times of crisis, that’s when we need to develop it the most” — Rodrigo Becerra Mizuno, CIO, Afore XXI-Banorte

a Mexican company that it cares not only for the business but also the citizens of Mexico is important,” he says.

Reflecting on the challenges that 2020 has presented, Mizuno states that the difficult conditions have actually enabled XXI-Banorte’s IT department to thrive as creative, techbased solutions became a necessity to maintain business continuity. “We’ve had to move faster in our digital transformation to deliver services on the web or in the mobile applications,” he

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explains. “XXI-Banorte has strived to

actually removed a lot of mental block-

deliver better apps for our employees

ers for some leaders. People can work

to do their job easier and better, which

effectively from home now and that’s

consequently means there is less traf-

deeply changed the conversation on

fic and customer needs are met faster.”

how offices and work days should be

When he looks ahead to 2021, Mizuno

structured.” And this reaches the crux

can proudly say that it won’t be a year

of what technology in banking is for

of ‘unfinished business’; COVID-19

Mizuno, a ‘conversation’: “Technology

has not dented the bank’s resolve

is a never ending journey and, in times

to transform into a truly 21st century

of crisis, that’s when we need to

operation. In fact, the pandemic may

develop it the most.”

have been the catalyst for change that IT has been waiting for. “COVID-19 has www.x x i - ba no r t e. com

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