SANTO DOMINGO.– The Association of Savings and Credit Banks and Credit Corporations (ABANCORD) held its XI Annual Congress 2025 under the theme "From Risk to Opportunity: Artificial Intelligence Transforming Financial Entities in the Dominican Republic."
The meeting brought together financial authorities, banking representatives, and international experts to discuss how AI is already transforming the Dominican market through early fraud detection, money laundering prevention, real-time regulatory compliance, and the design of products that facilitate the inclusion of more citizens in the financial system.
ABANCORD's CEO, Cristina de Castro, emphasized the institution's vision: "This congress confirms that AI only makes sense if it translates into purposeful innovation: more trust, better service, and greater financial inclusion for the Dominican Republic."
This line of thought was echoed during the opening conference by the Superintendent of Banks, Alejandro Fernández W., who emphasized that advances in SupTech and RegTechallow authorities to analyze data in real time and anticipate liquidity and solvency risks. In his words, “Artificial intelligence complements—not replaces—professional judgment and ethics. Today, supervision can be more agile and proactive, with better tools to combat fraud and money laundering.”
The program included EY Panama's keynote address on the new paradigms of AI in financial services, as well as a panel moderated by the Superintendency of Banks with Visa Dominican Republic and GOvox, which emphasized that artificial intelligence not only generates efficiency, but also strengthens customer confidence and opens up banking opportunities in a country where around three million people still remain outside the formal system.
During the technical session, BDO consultant Mario Galvache warned that artificial intelligence projects fail to reach their full potential without order and transparency. "Without governance, disciplined implementation, and measured ROI, AI projects don't scale. Explainability and bias control are just as crucial as the code," he emphasized.
The closing remarks were delivered by Mercedes Canalda, president of Banco ADOPEM and member of the board of directors of ABANCORD, who highlighted the opportunity to expand financial inclusion through savings and credit banking. "For us, AI is a tool that can democratize access and increase productivity; our commitment is to apply it responsibly and transparently," she stated.
With this edition, ABANCORD consolidates the congress as a benchmark space where the financial sector sets priorities to turn the challenges of the digital age into more competitiveness, stability and inclusion for the Dominican Republic.
