SANTO DOMINGO – The significant progress that the Dominican Republic has made in financial inclusion, according to the latest data from the World Bank's Global Findex 2025, is a direct result of the joint effort of monetary and financial authorities together with multiple banks, with the aim of promoting access to formal financial services, the Association of Multiple Banks of the Dominican Republic (ABA) stated.
The ABA noted that, in the case of the Dominican Republic, the latest data from the study show relevant progress for the country, one of which is that, between 2011 (which was the first year of publication) and 2025, the percentage of people with a savings account in a formal financial institution went from 38% to 63%.
Also, data from the Global Findex, as of July 2025, reveals that the percentage of people who saved during the last 12 months increased from 16% to 27%, exceeding the Latin American average (24%); likewise, the percentage of people who borrowed from a formal institution during the last 12 months increased from 24% to 29%, also exceeding the countries in the region (27%).
He considered that these results demonstrate the banking sector's sustained and strategic commitment to modernization, digitalization, and widespread access for citizens to formal financial services.
"These advances would not have been possible without the Dominican multiple banks' firm commitment to digitizing their services and transforming their business models, relying on technology to enable alternative service channels to the traditional bank branch," the ABA stated, highlighting internet banking , mobile applications, instant messaging services, and innovative processes such as onboarding .
In order to promote formality and greater access to banking services, including for micro, small and medium-sized enterprises, the association has encouraged the establishment of the Movable Asset Guarantee System for micro, small and medium-sized enterprises, the We Finance Code to disaggregate banking access data with a gender focus, the Alternative Data Score for unbanked people, among other initiatives.
The entity highlighted, as an essential aspect, the drive by the authorities to advance in the purpose of closing the financial gap, whose efforts include the National Financial Inclusion Strategy led by the Central Bank and other relevant initiatives.
The financial system sector is on the right track
The ABA reiterated that financial inclusion is defined as the degree of access individuals and businesses have to financial products and services such as transactions, payments, savings, credit, and insurance, among others. Given the correlation between higher levels of financial inclusion, poverty reduction, and the depth of financial systems, measuring and monitoring countries' progress in this area is increasingly important.
"Therefore, the positive results observed in the Global FINDEX indicate that the national financial-banking system is on the right track and should be an incentive for financial intermediation entities, regulators and supervisors to continue paving the way for more and more Dominican households and businesses to access the formal financial system and be able to undertake their consumption or investment projects," the association stated.
He also highlighted that the Superintendency of Banks' Digitalization Ranking reflects that, by 2024, 94% of multiple banks already had online banking platforms, totaling approximately 7.8 million users. Furthermore, 94% of banks have mobile applications, and more than 63% provide services via instant messaging. "Thanks to these developments, today more than half of the population (53%) makes or receives digital payments, compared to 38% in 2011," he explained.
He asserted that these advances are even more commendable considering that, since 2003, the country has experienced several systemic crises that have negatively and significantly impacted the number of individuals and businesses with access to financial services. As an example, he cited the COVID-19 crisis, which, according to statements by the Superintendent of Banks, caused the formal financial system to lose approximately 300,000 users.
