The XXIV Asobancaria Congress on financial law opened Thursday in the historic port city of Cartagena, bringing together key players to examine Colombia’s banking future, regulatory challenges and emerging technologies.
Running through Friday, the two-day gathering convenes regulators, senior bank executives, academic scholars and legal experts to debate sector changes and to assess the nation’s competitiveness in the global financial arena.
Jonathan Malagón, president of Asobancaria, emphasized that restoring the country’s financial depth is essential for reaching a 6% growth target by 2030. He explained that depth fell from 50% to 43% over nine years, and that a one-point drop in the usury rate pushed roughly 195,000 Colombians out of the formal system.
Pablo Rivas, Colombia’s financial superintendent, highlighted the need for clear technological standards and robust compliance frameworks. He argued that adopting new tools not only satisfies regulators but also builds a more competitive, transparent system that protects consumers.
Iván Cancino, justice minister, warned that digital assets pose risks when exploited by criminal networks. He said cutting off illicit funding requires stronger oversight of cryptocurrency transactions and cooperation with international law-enforcement bodies.
The Congress agenda includes sessions on the evolving global financial order, regulatory pathways through 2030, future banking models, tokenization, stablecoins, artificial intelligence in finance, consumer protection and legal liability for new technology.
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