Covalto Looks to Generate a Unified IdentityBy Cinthya Alaniz Salazar | Thu, 08/11/2022 - 15:15
Q: Following the purchase of Finterra, will Covalto absorb its personnel?
A: Yes, our objective is to extract the best that the companies have to offer and integrate them into the foundation of Covalto’s company culture. As a digital finance platform turned bank, we appreciate the talent that Finterra has nurtured and will rely on their operational and compliance expertise as the organization adjusts. Guiding this transformation is a concerted effort to maintain the energy and space that startups transmit.
Q: What are Covalto’s guiding objectives during this reconfiguration?
A: Company culture is not something that can be wished into existence; it is discovered by measuring values, beliefs, behaviors, history and other variables that are constantly responding to sociopolitical and economic changes. Accounting for these dynamic and shifting business needs, HR directors and company leadership need to purposefully create and nurture the culture they want. Their business resilience depends on it. Herein lies the importance of organizational strategy development, which in part includes the development of incentives to reward the behaviors the company wants to promote.
Companies need to be careful to avoid generating a homogeneous culture, as they risk limiting creativity and innovation capability. As such, companies should not strictly adhere to a cultural fit; they should instead strive to embrace diversity, inclusion and responsibility.
Q: What was the purpose of changing its original name Credijusto to Covalto?
A: Behind this decision is a concerted effort to unify our company and recent acquisitions under a single identity. Ultimately, we want Covalto to reflect the various identities, strengths and creativity of the people that make up the organization. We are now absorbed with initiatives to transmit and cement our cultural identity by creating opportunities in which our contributors can link their personal vision with the organization’s.
Q: How did the switch to remote work impact your associates and their sense of belonging with the company?
A: There is a simple distinction between connection and connectivity. The remote and hybrid work models offer connectivity but fail to engender genuine connections. In response to this challenge, we developed a proximity program meant to foment genuine interest and engagement between associates as a means of reinforcing the company’s culture, values and comradery.
Q: What HR initiatives does Covalto have in place to ensure it scales up successfully?
A: The market has changed significantly in the past few months. Just a few months ago, unicorns and other companies were happy to announce their exponential growth during the pandemic, despite lacking substantive efforts to generate real added value. Market conditions have now shifted and these very same companies now find themselves contracting.
While this may be unfortunate for those who were let go by various organizations, it will force companies to adjust their business models to become more sustainable. Covalto has not lost sight of this. Despite being labeled a unicorn, we want to be recognized as a camel that is capable of easily transitioning from one environment to the next.
Q: What talent objectives does Covalto have for its organization in 2022 and 2023?
A: Our reigning priority is to finish the integration of Credijusto and Finterra’s company cultures. Completing this integration is fundamental so we can redirect our efforts toward continuing to create added value for our clients, an increasingly important prospect now that we are a bank.
We aim to become a solid business soon enough, taking advantage of the opportunities that new market rules offer. The age of the Camels has come.
Covalto is a digital bank specialized in financing services and solutions for corporations.