TITLE

Latin Pension Privatization Yields Tech Investments

PUB. DATE
November 2004
SOURCE
Bank Technology News;Nov2004, Vol. 17 Issue 11, p16
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article informs that privatization of public pension systems in many Latin American nations has opened new markets for financial firms. But in a region plagued by a legacy of economic instability, pension administrators are employing new technology to ensure profitability. Chile was the first in the region to reform its public pension system. In 1981, the government moved to privatize the public system for all new employees. In another development, Spanish banking giant Grupo BBVA has launched an ambitious strategy to create a single, unified software platform that will serve both front and back office functions for its pension providers throughout Latin America.
ACCESSION #
15020737

 

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