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Author: Francisco Ramirez, executive vice-president of personal banks and branches, Banco Popular Dominicano
In a global landscape where digital transformation is no longer a competitive advantage but a necessity, Banco Popular Dominicano has cemented its leadership as the digitally advanced financial institution of the Dominican Republic. With more than six decades of experience by serving generations of Dominicans, Banco mixes tradition with daring innovation, standing as the institution that best understands the time, gaining confidence of traditional and avant-garde customers.
With a clear and strategic vision, Banco Popular has reached an important step: 88% of its transactions are now carried out numerically, supported by a robust ecosystem of mobile applications and digital platforms designed to facilitate the lives of users. In the past year only, its flagship mobile application, App Popular, recorded more than 100 million transactions – evidence of the bank’s rapid digital adoption.
Supported by the ambitious personal banking initiative; “A more innovative, more human and narrower banking experience”, Banco Popular has undertaken a complete transformation of its network of branches, positioning itself at the forefront of modern banking in Latin America. This daring redesign has transformed its branches into more spacious, efficient and technologically advanced environments that offer customers a more agile and personalized experience, promoting self-service as well as tailor-made attention. The bank’s objective is to ensure high -quality customer interactions by spending more time to strengthen relationships, allowing customers to see each banker as a trusted financial advisor.
Offer greater value to the customer
Following this transformation, waiting times in branches have regularly improved by 50%, offering a faster experience without compromising the quality of service. In addition, routine services have been redirected to the cashier area, rationalizing internal office flows and allowing staff to focus on more added consultations for customers.
Efficiency gains are reflected in bank performance because it now has the highest net promoter score (NPS) in the Dominican banking sector. At the end of 2024, he reached a historic general NPS of 70 points and 90 points in progress specifically for the branch service. Customers now assess their experience immediately after receiving services via QR codes available in each branch, which leads to an impressive 98%satisfaction rate. Banco Popular has also solidified its leadership into payment solutions, being the first in the country to integrate Google Pay, Apple Pay and Garmin Pay with its credit and debit cards. Outstanding products include VISA ISI and Mastercard Infinia and Biz portfolio cards for commercial customers. The Mastercard United Mileageplus has also been relaunched with an improved value proposal.
A more human and strategic model
Unlike other digital transformation models that reduce human interaction, Banco Popular has adopted a unique approach: “more digital, more human”. This philosophy is embodied in a customer service model that favors relationships, advice and proximity – even in digital settings. Today, more than 100 financial agents provide remote assistance, double the number of customers served by personal advisers.
The bank has also migrated non -face -to -face services to a very effective internal service center, further reducing waiting times and improving the customer experience. This strategy allows interactions in better quality branch, transforming each meeting into an opportunity to deepen customer relations. In this model, each officer is not only a manager, but a real financial advisor.
Banco Popular has also demonstrated an ability to understand and meet the evolutionary needs of customers – young people who buy their first home to entrepreneurs looking for capital. Consequently, the bank has expanded its presence beyond traditional branches in deployment of commercial units directly within real estate agencies, car dealers and retail stores. This proximity allows them to be present at critical moments of the financial life of customers. The success of this transformation is not only measured by efficiency or digitization measures. It is also reflected in the force of organizational culture of the bank, motivated by professionals engaged in the economic and social development of the country. At Banco Popular, we take up the challenge of constantly evolving for the benefit of our customers and the development of the country.
Recognized financial excellence
In the “digital and multi -channel 2024” study conducted by FinalTA (a subsidiary of McKinsey & Company) – which assesses and compares the performance of more than 200 banks in 50 countries – Banco Dominicano popular classified over the Latin American average and even outperformed world digital leaders in customer activity at ATM and branches, productivity of products officers and the new acquisition of customers.
In addition, having been recognized for four consecutive years as the “most digital bank in the Dominican Republic” by the superintendence of the classification of digital banks of banks, and having received numerous international distinctions of institutions such as World Finance, the banker, Latin finance and Euromoney, Popular Banco demonstrations that the future of banking, but not only in technology, Integration reflected with an impathy, a strategic vision, and in the term, but in the way the consultation, but in its time, but in its thoughtful integration with Empathy, detessimentation, not in technology, but in its thoughtful time.