The financial sector is living a revolution; technology and the will of changing things for the better are leading us to a new financial system, one that is more including, more flexible and more transparent.
The Fintech sector offers new possibilities of access: access to financial products outside the traditional banking institutions; access to information that is clear and unalterable, access to the possibility of sharing that information and making it available to all public.
When we created Glass, we wanted to offer the possibility of sharing financial information, in a safe way, when wanted or needed. We also dreamt of a connection that enabled companies and institutions to access a transparent way of managing their public finances.
Since then we have been working hard to reach this objective. We rarely can witness intentions turning into actions, making way to new horizons where possibility turns into fact. On October 2017, for the first time in Mexican history, a public servant made his finances public through Glass.
The Mexican Law of Transparency and Access to Public Information, although in force since 2002 and well intended in principle, hasn’t been enough to bring transparency to public finance management. But where other instruments have not sufficed, technology and will of change are constructing powerful changes.
Within financial management, the Fintech sector gives us access to solutions that a couple of years ago were hard to imagine, and that will become the common denominator for financial practices in the short term.
The revolution taking up the financial sector is not only giving us the possibility of changing the way we manage our finances; it’s also taking the first steps in a direction of honesty and transparency, towards a wider financial inclusion and a higher shared prosperity.
But before this horizon new challenges arise: how do we help institutions achieve transparency? How do we turn the actions of a single congressman into the standard on public finance management? How can we transform our will of change into actions, and start changing?
It’s a shared responsibility of all members of society, organizations and public leaders to answer these questions together.