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Despite the drop — from 57th in 2017 to 60th this year — Colombia's overall score in the Global Competitiveness Report actually increasing by 0.1 points to 61.6.

"We make a digital banking platform that works across the mobile channel, internet banking channel, smartphones, tablets," says Marcelo González of VeriTran.

"More companies in Colombia right now are becoming mutlilatinas," says Carlos Ferrer of Unisys, "and we are identifying many more opportunities to provide those global solutions."

The perception of security in Colombia is better than the three other largest countries in Latin America: Mexico, Brazil, and Argentina.

Jaime Peláez of Internexa says "banks have an enormous challenge ahead" to both improve their own security and teach users how to safeguard themselves.

More than half of the total, or about $2.3 million USD, will fund the construction of a new administrative center for Mocoa.

The Clave Dinámica aims to minimize electronic fraud and "doesn't require customers to memorize anything," said Luz María Velásquez of Bancolombia.

The 2016 total was more than half a billion dollars above the $5.2 billion USD reported in 2015 and puts the industry second in terms of foreign revenue generation after the oil sector.

The prolonged shutdown has cost Colombia some 893,000 barrels of production, according to Ecopetrol.

With 24.4 homicides per 100,000 inhabitants in 2016, Colombia reached a level not seen in more than four decades.