Banco Popular Dominicano is driving innovation and inclusion in the Dominican Republic
LONDON, April 10, 2019 (GLOBE NEWSWIRE) — Located on the picturesque island of Hispaniola, the Dominican Republic may seem like a dream holiday destination, but it’s also a thriving economic powerhouse, boasting an average annual growth rate of 5.3 percent. Such strong economic development has been driven by the country’s innovative financial sector, at the heart of which sits Banco Popular Dominicano (BPD).
Founded in the 1960s as an alternative to large international banks that had settled in the Dominican Republic, BPD has shown itself to be a pioneer in financial inclusion and digital development. Today, the bank caters for more than two million customers through a range of ground-breaking in-branch, online and mobile services. “Innovation is a core value of our financial institution,” said EVP of Personal Businesses and Branches, Arturo Grullón Finet in an exclusive interview with World Finance magazine.
BPD was named Best Digital Bank in the Dominican Republic by World Finance in 2018, and was awarded the Best Mobile Banking App accolade the same year for its eponymous application. Currently, more than 77.5 percent of all financial transactions carried out by BPD customers are performed electronically, while the bank’s mobile application is “the most downloaded app within the Dominican financial system”, according to Finet. BPD also leads the conversation on social media, with more than 642,000 followers and a direct contact function that allows it to respond to concerns quickly and easily.
BPD continues to innovate for its customers, launching the first ever digital branch of any bank in the Dominican Republic in September 2018. There, it has installed the latest generation of smart ATMs, which allow customers to manage their money in a more efficient and convenient fashion. The branch also boasts an education centre, where customers are invited to regular talks on digital culture and personal finance, and a co-working space to facilitate meetings between SMEs and budding entrepreneurs.
To find out more about BPD’s brand-new digital branch and how the bank is leading the Dominican Republic’s financial inclusion revolution, check out these exclusive videos, now available on the World Finance website.
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