In the digital age and streaming platforms, comparing benefits everyone

It was a decade ago when Netflix opened its streaming service in Mexico and Latin America (a few years before it already operated in the United States) since then and with a much greater boom since the pandemic, any number of online content platforms have emerged that have uploaded on its shelf blockbusters, series and movie premieres, and now also different sports and international tournaments.

This revolution in internet services has undoubtedly brought great benefits to users. Today on mobile devices, smart screens, tablets and computers, you have immediate access to any preferred content; this also implies the possibility of viewing it at the time that best suits each person, in almost any place, language, even downloading it to consume it when the internet is not available.

In a short time, the large companies that offered pay TV services have had to modify their offers and rates, making important adjustments to their solutions and packages to retain their customers, since it is increasingly common for people to choose only those platforms that interest you and only hire internet services.

But not everything is hunky-dory, because not having promotional breaks and having availability via streaming has also made paying for more platforms even more expensive than the packaged solution of yesteryear. The most advisable thing is to analyze what is more convenient and consume those platforms that are used and/or meet personal and family tastes, make a periodic review of those that are available, evaluate their use and decide if it is worth it or not, continue paying the subscription.

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This digital phenomenon can be compared in a certain way with the banking sector, where online solutions have also been developed for many years so that their clients can manage all the services and products they have with each institution. Without a doubt, a radical change in the way of managing resources with respect to the traditional banking of the last century and that has benefited millions of account holders throughout the country by being able to have the bank in the palm of their hand at the time they require it. .

The foregoing has brought with it the development of new participants, better known as fintechs, who have found a great opportunity to offer financial solutions for clients, with innovative ideas in their contracting processes, but as with the services of the streaming, some factors should be considered.

New financial services applications can offer various attractive alternatives for customers. However, in many cases, fintechs have to resort to charging high interest rates in order to finance their operations and cover the inherent risks of their users; Similarly, clients in some cases have limited protection in their savings, they are not necessarily covered by the IPAB, or by traditional banking regulations. In this case, it is best to reflect on what you want to hire for and make a thorough comparison between them. Regardless of the decision, the most important thing is to know if you have discipline and, above all, control of your finances.

In conclusion, technology has brought excellent opportunities to better take advantage of online services, quality of life, access to information, entertainment and practical solutions for daily life. We must not forget that the best way to care for and protect personal and family finances is to investigate everything possible to make technology a great ally and not an enemy.

*Rodrigo Barajas Pallares is VP I&C Sales at BBVA Asset Management.

e-mail: rodrigo.barajas@bbva.com