Plata Card is on a mission to redefine the economic landscape in Mexico. Andrea Vidales, the company’s Marketing and Communications Director, shares insights into their focus on technology, inclusivity, and personalized customer service.
During Advertising Week LATAM 2024, in Mexico City, Portada sat down with Vidales to discuss Plata Card’s impact and challenges. This Mexican fintech is merging cutting-edge technology with a human-centric approach to revolutionize financial services. Since its inception in 2022, Plata Card has distinguished itself through its accessibility and innovative programs, such as cashback of up to 15% and an extended payment cycle of 60 days. In this interview, Vidales delves into the pillars of Plata’s growth, the immense potential of the Mexican market, and how they adapt to the diverse digital needs of their users.
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Plata Card’s Unique Strength: Innovation and Experience
Vidales emphasizes that Plata Card’s success stems from a bold vision and the expertise of its founding team, renowned for its pioneering work in digital banking. Plata, she explains, is a unique entity in the Mexican financial market due to its distinctive characteristics and disruptive approach: “Plata is a unicorn in the sense that it has unique characteristics of its own. Our founders, experts who launched the world’s first digital bank, are now bringing their expertise to Mexico to build Plata from the ground up. This foundational expertise and the team’s dedication set us apart.”
Moreover, Plata Card challenges industry norms and breaks stereotypes by questioning the status quo: “We’re not content by following outdated rules. We’re committed to challenging the norm and solving real-world problems our clients face daily with traditional financial services.”
A Hybrid Approach: Technology and Human Touch
Plata Card has successfully created a hybrid system combining technology and personalized support. Customers can choose between various options, from in-person assistance with certified ambassadors to real-time chat support: “We offer a range of options, from in-person guidance to instant chat support. This hybrid approach ensures customers feel supported at every step, regardless of their technological preference.”
Vidales emphasizes the importance of maintaining accessible channels, including direct phone lines: “While we strive to be a digital platform, many people still prefer human interaction. We’ve incorporated traditional channels like phone calls to bridge the digital divide and ensure a seamless customer experience.”
“We offer a range of options, from in-person guidance to instant chat support. This hybrid approach ensures that customers feel supported at every step, regardless of their technological preference.”
Capitalizing on Mexico’s Growth Potential
Vidales sees immense potential for Plata Card in Mexico, where a significant portion of the adult population remains unbanked. This low financial inclusion presents a golden opportunity for digital platforms like Plata Card to democratize access to banking services. Vidales explains, “With only 40% of the adult population banked, Mexico offers a vast market compared to countries like Brazil, where the figure is closer to 80-90%. The growth potential is enormous.”
“With only 40% of the adult population banked, Mexico offers a vast market compared to countries like Brazil, where the figure is closer to 80-90%”.
A New Era of Customer Service
Plata Card is committed to redefining customer service in the financial industry. The company aims to offer a VIP experience to all customers, regardless of their account type. Vidales emphasizes, “At Plata, we believe every customer deserves VIP treatment. You don’t need a premium account to receive exceptional customer service. We’re democratizing financial services and ensuring everyone can access high-quality support.”
“We’re committed to challenging the norm and focusing on solving real-world problems that our clients face daily with traditional financial services”.
Understanding the Digital Landscape
In today’s digital age, understanding audience behavior is crucial. Vidales highlights that the key to effective marketing isn’t just being digital, but truly understanding the audience and their consumption habits. Plata Card tailors its strategies to cater to traditional and digital-native users, recognizing that digital proficiency isn’t solely generational: “I’ve met industry veterans who are more digitally savvy than many young people. It’s about understanding what the audience consumes and creating content that resonates with them.”
