Brazilian card processor Cielo has created a special committee to stay abreast with the digital transformation of the financial services industry.
Called the innovation committee, its eight members will discuss, assess and advise the company on innovative technologies, as well as on commercial and technological trends in Brazil and globally, Cielo said in a statement.
Members will serve a two-year term and include IBM Latin America general manager Ana Paula De Jesus Assis, SAP Brasil CEO Cristina Palmaka, and Mario Mello Freire Neto, who is a former general manager of PayPal Latin America.
"This is one of Cielo's major step towards the forefront of the technology sector and services for the retail segment, focused on means of payment in Brazil," said Danilo Caffaro, Cielo's CEO of products, business, marketing and innovation.
"We go beyond payments, creating added value for our customers and offering greater convenience to Brazilian consumers," he added.
The committee will be composed of eight members, including IBM Latin America general manager, Ana Paula De Jesus Assis; SAP Brasil CEO, Cristina Palmaka; founder and CEO of GR1D, Guga Stocco, and Mario Mello Freire Neto, who has a wide experience in the financial market and technology sector, having his last leadership experience at PayPal Latin America. Committee members will have a mandate of two years.
Many Brazilian financial institutions are making investments in technology top priorities as customers increasingly prefer digital distribution and communication channels over traditional channels.