Today we’re talking with Gustavo Jiménez, who has 20 years of experience in banking, covering commercial, risk, business development, and more recently digital transformation and innovation. His focus on innovation began after earning his master’s in Boston, where he discovered the startup ecosystem. Upon his return to Peru, he led initiatives at Mi Banco, a leading microfinance bank, developing tools with an agile, startup mindset. Now, he leads the partnerships team at BCP, driving open innovation.
Tell us a bit about BCP
The Bank of Credit of Peru (BCP) is part of the Credicorp group, which includes companies like Pacífico Seguros, Prima AFP, Mi Banco, and Credicorp Capital. BCP is the largest bank in Peru,is the leader in most financial products, and has a presence in all regions of Peru. Our main focus is to keep growing and helping our clients build their financial plans, always aiming to offer solutions that meet their needs at every stage of life.
What does the partnerships team do within BCP?
In the partnerships team, we are part of BCP’s innovation center, and we focus on open innovation. We connect startup solutions from around the world with the various business units of the bank. We work across the entire bank, identifying needs and matching them with technological solutions. We also co-create pilots with these partners, establish success criteria, and if the pilot is successful, we scale the solution and formalize a long-term collaboration.
How does BCP define its vision of open innovation, and how important are startups in that ecosystem?
At BCP, open innovation is crucial for moving quickly and providing efficient solutions to our customers. We know we can’t do it all by ourselves, which is why we work with startups and tech companies that already have proven solutions. Collaborating with them helps us cut costs, reduce development time, and accelerate time to market. In the partnerships area, we have two clients: the internal departments of the bank and the external startups. Our mission is to create alliances where both sides benefit, always keeping the end customer in mind.
What have been the biggest challenges when working with startups in Peru, and how have these challenges turned into opportunities for BCP?
The startup ecosystem in the region has grown significantly in recent years, with solutions for collaborating with corporations. However, one of the main challenges has been that not all corporations understand the value of these synergies. At BCP, we’ve identified this opportunity, which is why we’ve pushed areas like partnerships and teams like BCP Xplore, which is banking for digital companies. Latin American startups, compared to startups in more mature markets, tend to adapt better to our needs, allowing us to collaborate more efficiently and learn from each other.
How does BCP view the current state of the financial sector in Peru, and what are the main trends and challenges you identify?
Peru is an economy that thrives due to its workforce, and we are optimistic about 2025. Our goal is to keep learning from our clients to offer them better products and services by boosting their digitalization and increasing financial inclusion in the country. We are testing tools like hyper-personalization and implementing artificial intelligence to improve the customer experience. Although challenges like the legal framework in s open banking and open finance persist, we are working to continue pushing forward digitalization and financial inclusion.
How does BCP measure the success of its open innovation initiatives, and what are the key metrics used to assess their impact?
At BCP, when working with different teams like credit cards, mortgages, or capital markets, we define success criteria before starting each pilot. These criteria are continuously monitored during the process, and at the end, if they’re met, the pilot is deemed successful, and the solution is scaled. This means the startup becomes an official supplier to the bank. We don’t move forward with implementation unless all stakeholders – the sponsor, the startup, and the end customer – are satisfied with the results and agreements.
How does BCP view the role of fintechs in creating more accessible financial services, and what actions are you taking to collaborate with startups?
We understand that digital transformation is moving much faster than traditional banking, which is why it’s essential for us to collaborate with fintechs. These companies help us achieve digital transformation levels that enable us to reach more customers, especially those who are harder to serve due to their location or sector. Fintechs already have experience in these niches, which makes it easier for us to offer services to all Peruvians. That’s why we maintain close, transparent relationships with fintechs to ensure constant collaboration.
What best practices has BCP developed to foster a collaborative culture with startups and minimize friction?
At BCP, we maintain a constant, proactive relationship with our partners. We meet weekly with 4 or 5 startups from around the world to build a backlog of opportunities, which we review regularly. This allows us to identify new potential collaborations and keep the dialogue going with partners. We work proactively by offering solutions to BCP’s internal departments and reactively by responding to specific needs they have.
Additionally, we provide continuous feedback to startups to keep communication clear and always follow up with them. We want startups to trust us and know that we are always evaluating how their solutions can fit into our business units. Even if a startup doesn’t align with BCP’s needs at a given time, we try to connect them with other companies within the group that could be a fit for them.
Our partnerships team actively participates in ecosystem events and connects not only with startups but also with VCs and innovation labs. We seek to collaborate and support the growth of the ecosystem in Peru and across Latin America, both as attendees and sponsors, to help startups continue to innovate and grow.
How can entrepreneurs get in touch if they believe they’re a good fit for BCP?
We love meeting startups and learning about their solutions. Entrepreneurs can reach out to me directly via email at [email protected], and I’d be happy to talk to them. They can also connect with me on LinkedIn, as we’re always open to hearing and understanding how their proposals can align with our initiatives at BCP.
This post is also available in: Español (Spanish)
