The Finance Superintendency of Colombia (SFC for its acronym in Spanish) has published a circular authorizing the use of mobile phones in banking headquarters and offices. The document repeals the instructions issued in Circular Letter 093 of 2010 and the regulation will enter into force on January 1, 2020.
According to the document, the SFC is promoting the integration of new technologies in order to reduce the levels, costs and risks associated with using cash. In addition, the entity has stated that it will continue to bolster safe quality growth for financial consumers by increasing the number of financial services based on the use of technological devices and integrating them with the different channels of attention, including traditional ones, such as offices.
The most relevant points established by the new regulation are:
- It restricts the use of mobile devices or personal communication elements by the entity’s employees in areas where deposits, payments and withdrawals are made, or in any other area where the entity identifies the need to restrict their use during operating hours.
- It authorizes, according to its risk analysis and monitoring, the use of mobile devices by financial consumers for as long as they remain on the entity’s premises, under the conditions they consider appropriate.
- It requires the publication, in visible places, of precise instructions for the officials or areas responsible for receiving deposits, payments and withdrawals, without prejudice to the availability of an information point to address the concerns of financial consumers.
- It offers an escort service provided by the National Police, under the conditions and availability defined by that Authority, when customers make cash withdrawals.
- It recommends that credit establishments promote financial education programs on the integral use of digital channels taking into account their size, activities, business model and other particularities, and evaluates the use of pilot offices which emphasise digital services.