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Report: 22 Mexican banks meet SPID security requirements

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Report: 22 Mexican banks meet SPID security requirements

Just22 private banks in Mexico meet the information security requirements toparticipate in the central bank's interbank payment system in dollars known asSPID, El Economista reported July 17.

Atotal of 25 banks that offer accounts with deposits in dollars are obligated tojoin the system, meaning three banks were still pending as of July 14, thereport cited information from Mexico's central bank as showing.

Allbanks participating in SPID must have information systems that are sufficientlysecure to prevent cyber crime. However, in the months since SPID becameoperational in April,there are still no development banks that qualify to participate.

SPID,or Sistema de Pagos Interbancario en Dólares, is designed to facilitateelectronic transactions in dollars between companies and make dollartransactions within the country more transparent, the head of Banxico, AgustínCarstens, said in March.

Thebanks that have met the requirements so far are: , Banco Azteca SA Institución de Banca Múltiple,Banco del Bajío SA,Bank of America México SAInstitución de Banca Múltiple, Banco Nacional de México SA Integrante del Grupo FinancieroBanamex, BancoNacional del Ejército Fuerza Aérea y Armada SNC, , BancoRegional de Monterrey SA Institución de Banca Múltiple, , BBVA Bancomer SA Institucion de Banca Múltiple Grupo Financiero BBVABancomer, Banco MonexSA Institución de Banca Múltiple Monex Grupo Financiero, , HSBC MéxicoSA Institución de Banca Múltiple Grupo Financiero HSBC, , IntercamBanco SA Institución de Banca Múltiple Intercam Grupo Financiero,Banco Invex SA Institución deBanca Múltiple Invex Grupo Financiero, , Banco Sabadell SA Institucion De Banca Multiple,Banco Santander (México) SAInstitución de Banca Múltiple, Scotiabank Inverlat SA Institución de Banca Múltiple,Banco de Tokyo and Banco Ve porMás SA Institución de Banca Múltiple Grupo Financiero Ve por Más.