Corresponsalía internacional bancaria en Colombia, caso Banco Caja Social 2018-2020

Abstract

The Colombian international banking correspondent is analyzed, emphasizing the study in Banco Caja Social. It opens a line of research in International Financial Markets, within which there is no precedent within the International Business Program of the Agustiniana-Uniagustiniana University. For the development of the research, the systems of international banking correspondents were analyzed, to land on the situation of the international banking correspondent in Colombia, Case of Banco Caja Social. Possible areas of opportunity for these financial instruments and their contribution to the financial internationalization of the country were identified. Statistical information reported by the competent authorities was compiled, for the Colombian case: Banco de la República, Asociación Bancaria y de Entidades Financieras de Colombia (Asobancaria), Superintendencia Financiera de Colombia (from the General Indicators of Credit Establishments) and Report of the Board of Directors of Banco de la República. It was shown that choosing to establish international banking correspondent contracts can benefit countries by creating strategic alliances to participate in foreign markets. Improving the regulatory framework for global financial systems will be key to providing a higher level of trust required by correspondent banking. On the other hand, the Citibank correspondent has great coverage at the international level, which makes all the financing products for international trade of Banco Caja Social competitive abroad, which will allow to continue maintaining the correspondent alliance that both have entities.