“One of our largest challenges by means of our digital transformation has been altering the habits and mindset of our purchasers to undertake digital behaviours,” says Francisco Ramirez, Executive Vice President of Personal Business and Branches for Banco Popular Dominicano. He explains how the financial institution managed emigrate transactions, turn out to be essentially the most downloaded monetary providers app within the Dominican Republic, and assist the nation considerably develop its monetary inclusion fee.
Francisco Ramirez: Banco Popular Dominicano presents a variety of digital services and products, that enable our customers to work together with the financial institution and fulfil all of their monetary wants.
Our app Popular, which is essentially the most downloaded app within the Dominican monetary system, presents our customers a handful of digital options. The app – along with the capabilities offered by means of our on-line banking web site, which is essentially the most visited of the monetary trade within the nation – meets our customers’ particular person wants, and makes their day-to-day mobility easier.
To migrate transactions, we have now deployed the newest technology of good ATMs. Through these ATMs, customers could make on-line withdrawals and deposits, in addition to pay their loans and bank cards with money or funding from their accounts. These capabilities are each extremely handy and time-saving for our customers.
We have additionally opened digital channels, the place customers give us their opinions and solutions, and even ask for info.
Our customers have reacted excellently to our new digital choices. Today, greater than 80 p.c of our transactions are digital, and greater than 50 p.c of our purchasers are utilizing our digital platforms.
One of our largest challenges by means of our digital transformation has been altering the habits and mindset of our purchasers to undertake digital behaviours. Another problem has been strengthening our cybersecurity and tech infrastructure, which is able to allow us to quickly ship revolutionary merchandise, channels, and providers, which can be higher tailored to our altering customers’ wants.
According to the World Bank Global Findex, in 2017, the Dominican Republic surpassed the Latin American common of economic inclusion, with 56 p.c of Dominicans over 15 years previous with a checking account. This represents important development compared to the 12 months 2011, the place the monetary inclusion index within the nation was solely 38 p.c.
We encourage entrepreneurial tradition by means of a number of programmes. One of them is Challenge Popular, which is a design marathon the place individuals suggest new providers or merchandise, emanating from an intense artistic means of 48 hours guided by mentors. And after, one of the best proposals win prizes.
Another programme is Impulsa de Popular, which is a contest that seeks to encourage younger entrepreneurs within the development of their revolutionary initiatives, and permits them entry to hunt capital for their enterprise initiatives.
Last 12 months we additionally launched one other programme to help our SME purchasers that need to turn out to be franchises – in addition to those who need to purchase an already established franchise.
Finally, we even have Banquero Joven Popular, which is an initiative from our company social duty division. This programme seeks to coach younger individuals in class in regards to the functioning of moral and sustainable banking, whereas enhancing their monetary training, entrepreneurship, and management abilities.
Banco Popular Dominicano will proceed to deal with selling digital gross sales, enhancing digital experiences, selling innovation, reworking conventional branches, and strengthening cybersecurity; and we are going to attempt to attain all of this whereas adhering to our mannequin of accountable banking.