SANTO DOMINGO.- Banco Popular Dominicano reaffirms its leadership, for the fourth consecutive year, in digital banking in the Dominican Republic, leading, with gold category, both the personal banking and business banking segments in the 2024 Banking Sector Digitalization Ranking of the Superintendency of Banks (SB).
In this ranking, Banco Popular achieved first place in the gold category in the personal banking segment with a score of 92.7 out of 100, also receiving recognition for its sustained excellence, which reflects its constant achievement for more than three consecutive years above 90%, which highlights "the persistence and high level of commitment to digitalization and innovation," according to the SB.
The bank was also recognized for its channel authentication, thanks to having implemented additional controls that improve the authentication and security of its digital users, maintaining "identity management above standards," the regulator notes.
In the business banking segment, Banco Popular scored 91.83 out of 100 and also received recognition for its enhanced user authentication controls. It is the only financial institution to surpass 90 points in this segment and is 4.53 points ahead of its closest competitor.
The 2024 Banking Sector Digitalization Ranking has already had four editions, and in all of them Popular has led the evaluation.
According to the SB, the purpose of this list of digitalization in banking is to encourage the adoption of new technologies and increase users' knowledge of the different alternative service channels available in financial institutions, in order to promote financial inclusion in the population.
Mobile apps reign supreme
According to the SB report, mobile applications are the most popular digital channel in the financial system. Meanwhile, Banco Popular registers an average of over one million active users on this platform.
In this way, the Popular App, the financial application of Popular, offers customers the possibility of using more than 50 self-service functions available, positioning itself as a leader in the market for the diversity of solutions it offers.
Regarding companies, Banco Popular has a strong leadership position in this segment with constant innovations, a fact confirmed by the recognition awarded by the SIB.
Meanwhile, the report states that having the best app is the second most important criterion influencing a bank customer's decision to choose a bank, surpassed only by customer service and, in third place, by the location of offices and branches. This ranking is similar to that of the business segment, although they place less emphasis on mobile apps and the location of offices and branches.
Working to improve the lives of customers
Mr. Christopher Paniagua, CEO of Banco Popular, celebrated this new recognition of the efforts of Banco Popular's teams and attributed the achievements to the financial organization's ability to meet the needs of its clients in the most efficient and sustainable way.
“Our strategy has always focused on making life easier for our customers through digital transformation, in which we consistently lead the market, adopting innovative technologies that have improved and expanded our value proposition to customers,” he said.
Banco Popular's digital ecosystem is receiving national and international praise and recognition. Recently, in July of this year, the financial institution was distinguished as the "Most Innovative Bank in Latin America" at the 2024 World Finance Banking Awards, organized by the financial magazine World Finance. This award highlighted Banco Popular's leadership in digital transformation in the Dominican Republic and its commitment to offering advanced technological products and services.
