Why Latin Americans rock the whole world in digital transformations
One of the most popular Latin America’s digital landscapes, Conxto, has been rapidly growing its popularity in recent years. How come is that? Well, this region has always been suffering from poverty and natural disasters. That is how digital transformations have become a crucial tool to overcome the aftermath of the global pandemic.
The global flu outbreak has made all the countries in the region expand their technologies in many welfare systems. Everyone must admit that any changes cannot be made without inconveniences, even from worse to better. So was the adaption of new digital transformations in Latin America. As a result, Latin America has successfully turned into a digital nation and showed the whole world the way to get back on track.
1. Financial digital transformation
Latin Americans used to worship cash because their economy depended on unbanked and underbanked customers. However, they had to immediately switch from handling cash to online payments via cards or mobiles. It means that the pandemic has speeded up the process of finding safer and faster payment alternatives in the whole region. Since then, fintech has become not just a useful tool to make transactions but a necessity. Consequently, the traditional banking system became obsolete.
Some companies and organizations like Uala and Cuenta DNI are taking advantage of the situation these days. To gain a return on investments became much faster after they had changed their legacy systems before the pandemic. Mexican citizens, who haven’t had access to banks or lost their jobs and income because of the pandemic, now fully depend on Uala and Cuenta DNI. Within just the first month after the lockdown, Uala issued at least 140 000 debit cards. What is more, Cuenta DNI has raised its popularity to 500 000 users within only 15 days. Now it comprises more than 1 million active users.
2. Educational digital transformation
Latin America has realized the need to induce digital transformations in the educational system too. The number of Internet users has extremely increased and already reached more than 453.7 million Latin Americans. It is approximately 60 percent of the population in the whole region. That is why the opportunity to provide online learning and training has become so essential. Everyone acknowledges that online education is no longer an innovation. However, Latin Americans have developed their e-teaching and e-learning approaches. So the governments introduced to the public such programs as Aprendo en Casa (I Learn at Home) or Tu Escuela en Casa (Your School at Home). Thanks to these governmental initiatives the students can have access to the learning materials through the Learning Management System (LMS).
Various messengers were included in the studying process to connect teachers with students. Parents were also involved to guide and support their children. Well-structured e-learning systems like Educarchile and Plan Ceibal (one laptop per child) are available in Chile and Uruguay. TV broadcasts and national educational radios are used to distribute study guides and learning materials in less developed countries in the region or rural areas.
3. Healthcare digital transformations
The quality and efficiency of healthcare have been also improved thanks to electronic health records (EHR). Nowadays the majority of Latin countries are provided with an opportunity to implement or update their healthcare programs. Just imagine that during 2014-2019 a compound annual growth rate of health EHR has reached the point of 7.17 percent. Electronic health records allow healthcare providers to boost their productivity and efficiency, reduce medical errors, automate, and streamline the workflow. EHR systems have been massively spread all over the region and proved to be the most relevant information technologies during the lockdown. Even the most remote areas now can get access to health services much faster.
Cloud-based models of EHR are widely used in countries with a high prevalence of COVID-19 like Brazil, Mexico, and Chile. Grupo Fleury, one of the biggest medical groups in Brazil, has applied an online platform that connects doctors and patients. That is how healthcare providers can distantly monitor positive COVID-19 patients. What is more, all medical data like medical history, medications, demographics, and payment records details can be safely stored by the EHR system. Overall, the use of EHR improves the quality of healthcare services, reduces operational costs, increases revenues and profitability.
4. What is unique in Latin digital transformations?
The main secret of Latin American success lies in the acknowledgment by the government that digital transformations have become an integral part of real life. Not every country in the region can show the same technological progress as it is a long-lasting process that has just started. Nevertheless, fintech, e-learning, and e-medicine are gaining momentum throughout Latin America and far beyond. Latin American proactive approach, openness, and readiness became a prior example for other third-world countries how to handle the situation when the rest of the world has been falling apart.