SANTO DOMINGO – The digital revolution continues to impact the Dominican Republic, and the financial sector is no exception. For this reason, Banco Popular announced its new product, Qik Banco Digital Dominicano SA, a “neobank,” the first of its kind in the country to offer 100% digital financial intermediation services.
Qik is a subsidiary of the Banco Popular Dominicano Group (BPD), and according to a statement from the banking entity, Qik already has the approval of the Monetary Board to operate as a multiple bank.
The Chairman of the Board of Directors of Grupo Popular, Manuel A. Grullón, announced the upcoming market launch of Qik Banco Digital Dominicano, SA – Banco Múltiple, a new banking subsidiary of Grupo Popular, which is the first neobank in the Dominican Republic and the national financial system.
The authorization for the start of operations of this new banking subsidiary was granted by the Monetary Board in its session of October 27, on the recommendation of the Superintendency of Banks and the Central Bank of the Dominican Republic.
What makes Qik a neobank is that it lives in a mobile application, with simple and cost-efficient banking processes, without the need to go to branches.
This streamlined operational structure, compared to traditional banking, allows it to pass on more benefits to its customers, accelerating access to financial products for the entire population.
Putting the person at the center also means providing them with digital support channels within the app for a superior experience and relies heavily on the most advanced security solutions to protect users' data and money, he explains.
Banking
, according to the explanations, has been conceived following the digital trends that are transforming the financial sector worldwide and that demonstrate how digitization and the adoption of new technologies have become enablers to increase banking levels and the financial health of citizens.
It is an agile operating model, to adapt quickly to the market. The nascent financial entity of the Popular Group is a bank aimed at people who live in constant evolution and rely on digital solutions that facilitate their daily lives.
It has an agile banking model, based on getting to know each customer individually, adapting to their needs promptly, and providing a highly intuitive and personalized end-to-end digital experience. Furthermore, users can organize their finances in a much more visual way and receive recommendations to help them manage their credit history.
Customers will be able to request and receive approval in minutes through the app, in a 100% digital process, for a novel 'infoless' Mastercard credit card, without sensitive information on the physical card, which makes it unclonable.
The Mastercard Infoless credit card is one of the first products of the new bank, whose offering will grow towards a portfolio that will meet all the financial needs of its customers, with always innovative products, including accounts, loans, investments, among others.
Innovation
Since its inception, as explained in the document, Grupo Popular has been characterized by its commitment to the economic and social development of the Dominican Republic, through innovative proposals to expand financial services in the country, now adding this new banking subsidiary, the first Dominican neobank that has been designed to be an agent of change in the sector.
It indicates that in this way, Qik will meet the emerging needs of digital customers with the highest technological, security and service standards provided by Grupo Popular, evolving the country's financial solutions offering.
To
request Qik's services, interested parties can visit www.qik.com.do and register on an early adopter list. They will be granted access gradually, becoming pioneers in experiencing the bank of the future. For
more information, people can find Qik on its social media channels
