- The MODO banking wallet is growing exponentially
- Banks in the United States abandon environmental policies
- Colombian banks that consolidated in 2024
#1
MODO multiplies its impact
MODO, the digital wallet of Argentina’s banks, achieved extraordinary results in 2024, quadrupling its payment volume compared to the previous year. The platform registered over 11 million users in the country, who made an average of six transactions per month, while one million merchants have already integrated this solution.
The growth was accompanied by key innovations such as contactless payments, tokenized QR codes, and an expansion into e-commerce, incorporating more than 5,000 online stores. Additionally, it launched the MODO+ vertical for digital products like gaming and subscriptions. The impact was also reflected in transfers to mobile numbers, which doubled the figures from 2023.
#2
US banking abandons climate commitments
The re-election of Donald Trump has triggered a radical shift in the environmental policies of major financial institutions in the United States.
JP Morgan, Bank of America, and Citigroup, among others, announced their exit from the Net Zero Banking Alliance, weakening a key coalition that aimed to align investments with climate neutrality by 2050.
BlackRock also withdrew from the Net Zero Asset Managers Initiative, citing legal and reputational risks. This exodus coincides with devastating wildfires in California, highlighting the contradiction between the actions of these entities and the climate consequences. Meanwhile, European banks remain in these initiatives for now.
#3
Colombian banking giants consolidate their leadership
According to figures from the Financial Superintendence of Colombia, Bancolombia led the financial sector in 2024 with profits of COP 4.9 trillion. It was followed by Banco de Bogotá and Davivienda with COP 1.1 trillion and COP 796.991 billion, respectively.
The rest of the ranking includes Citibank, Banco de Occidente, Banagrario, and Banco GNB Sudameris. These results reinforce the stability of the Colombian banking system and its ability to generate value, even in a year marked by challenging global economic conditions.