Francisco Ramirez, Government Vice President of Own Business and Branches for Banco Popular Dominicano, explains how the bank’s motivation to electronic technologies aided it meet up with the issues of the COVID-19 pandemic.
Francisco Ramirez: Given that the establishment of Banco Well-liked Dominicano far more than five many years back, innovation has been a elementary pillar that characterises our provider and growth tactic. New systems have enabled us to continue on producing new small business versions, merchandise, and expert services, that allow us to excel in our consumer expertise, building us a reference for economic innovation in the area.
In purchase to accelerate our digital transformation system, we have adopted the AGILE methodology, which lets us to regularly launch new innovations. In modern months, we have launched a sequence of electronic methods that jointly with beforehand current electronic operation enable us keep our leadership position in the current market.
The COVID-19 pandemic introduced problems to all the successful and social sectors of the Dominican Republic – and the relaxation of the environment. And this has propagated into changes in purchaser conduct. It has been a period of time of terrific mastering and growth, exactly where Banco Popular experienced the option to reinvent alone, and aid its clientele with the launch of multiple electronic functionalities that facilitate their interactions with the institution.
In the course of 2020, we saw an accelerated adoption to electronic banking expert services by our clientele, the place digital transactions reached 87 p.c of the total operations carried out by the financial institution.
For instance, our Well-known Application has elevated its relevance and usage each individual calendar year as opposed to the rest of the channels. In 2020, transactions elevated by 34 p.c. This demonstrates clients’ rely on in our technological infrastructure and the electronic migration resulting from the effects of the pandemic.
At Banco Common we believe that that the electronic migration method will keep on as far more clientele working experience the advantages of electronic banking. For this reason, we are continually communicating digital banking advantages by means of instructional films and guidance from our executives, displaying shoppers how they can conserve time when employing digital remedies.
Having said that, shoppers who proceed to favor personalised help have obtain to all of our regular channels to execute their functions, in which we are constantly creating improvements to maximise the assistance encounter.
For case in point, guided by innovation, a person of our main values, we devote endeavours to boost the scope of robotic course of action automation. Many thanks to the robotisation of responsibilities, we elevated our operational performance. In 2020, we identified and robotised 19 substantial-volume macro operational processes, which has an effect of improving the excellent of the assistance supplied to our buyers.
We want to support our clientele prosper in the digital entire world. That is why we have a powerful motivation to on the internet stability. We do the job so that our shoppers can have out functions digitally with overall stability, offering them with a 24/7 service, thanks to a strong technological infrastructure.
In the course of 2020, we continued to strengthen our facts protection and cyber stability programme, incorporating the specifications of the Cyber and Data Safety Regulation of the Central Lender of the Dominican Republic and adapting it to very best practices.
At Banco Preferred we will carry on to innovate and supply our consumers with new alternatives that can fulfill their wants and make their encounter additional pleasant. This is why we consider in the worth of listening to consumers and co-building with them. We have constantly began the innovations that digital transformation needs by understanding what our shoppers want.
Banco Preferred will continue to guess on a increased digitisation of our shoppers, the automation of procedures, and the continuous improvement of the services experience for Dominicans.