The customer-bank relationship is definitely changing drastically. Certainly, customers are going less to bank branches and are relying more on the digital option. In Venezuela, for example, the use of wallets such as Binance, Reserve, Paypal, Merca dólar and others has not been boosted by technology or the internet (it sucks), but by the growing need of people to protect their income from the rampant inflation (even in dollars) that is sweeping our economy, in addition to the lack of cash in circulation. Remittances received from relatives abroad have also helped to increase the use of wallets and the like. Venezuelans today prefer to take their money out of the conventional bank and transform it into a more valuable currency or cryptocurrency and make their transactions through wallets and the like. Obviously, banks are concerned about this daily outflow of funds from their savers' accounts, to the point of offering on some occasions a much higher interest rate than usual, just so that the client does not mobilize the money for one or two days. On the other hand, the Central Bank is seeing that the control that banks used to exercise over account holders' money is being lost and has just enacted this week a kind of regulatory framework for Fintechs, which could somehow affect their operation within the Venezuelan territory, taking into account that most of them are registered outside our borders.

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