The leading Dominican bank is committed to supporting the productive sectors, digital transformation, cybersecurity, and financial inclusion

The performance and service vocation of Banco de Reservas de la República Dominicana have allowed it to maintain an undisputed leadership of the national financial system, in addition to transcending its borders.

This year, among other aspects to optimize its business management, Banreservas’ expansion will continue to be a priority. This plan emerged in 2021 with the purpose of satisfying the need of the Dominican diaspora for financial products and services related to their country of origin and materialized in 2023 with the opening of three representative offices abroad.

Representative office in New York

For its expansion, Banreservas chose foreign cities with a large Dominican presence, where representative offices were opened in Madrid, specifically on Paseo de la Castellana; in New York in Washington Heights; and in Miami, Florida, on Brickell Avenue.

This initiative is testimony to inclusive support. The three representative offices replicate all Banco de Reservas services, while financial operations are conducted in the Dominican Republic.

It is also important to mention two significant facts: first, at the national level, Banreservas supports the main productive sectors with financing for tourism, agriculture, construction, free trade zones and small and medium-sized enterprises, which generate approximately 2.2 million jobs in the country.

The second, is that the bank continues to take giant steps towards digital transformation, to give its customers a memorable experience, with a view to laying the foundations for an innovative future in the market. These include:

  1. Dual Office, a new service experience, combining the traditional with the digital; with modern self-service functions.
  2. Sponsored Data, as the only bank in the country whose App is free of data consumption. Thus, promoting financial inclusion and bankarization.
  3. Banreservas Digital Account, the institution´s first digital account. A savings account in pesos without a passbook which can be downloaded from the Banreservas App.
  4. Launching of Banreservas MIO, an App with a 100% digital account which can be obtained from a cell phone with the customer´s ID, its main purpose being bankarization.
  5. Alma, a chatbot or virtual assistant available through WhatsApp for consultations and services request.
  6. Improvement of its APP´s functionalities and expansion of its alternative channels, maintaining the availability of its clients through the largest network of offices nationwide, with more than 800 Banreservas ATMs and more than 950 bank subagents.
Dual office, a new service experience

These initiatives are aimed at strengthening its cybersecurity systems, for which the bank will reinforce the continuous training of all its personnel, as they represent the main line of defense of the financial institution and will also maintain a sustained investment in cybersecurity technologies.

During the last few years Banreservas has also strengthened its proposal for the socioeconomic inclusion of its most vulnerable groups with its program Bancarizar es Patria, whose goal is to include one million Dominicans in the financial system by providing free financial courses throughout the country so that Dominican families, children, young people, and the elderly have access to services and education.

In 2022, this program was recognized in the Catalogue of Promising Practices, an initiative of the United Nations Development Program (UNDP) and the National Council of Private Enterprise (CONEP), which seeks to systematize and recognize best business practices, economic, social, and environmental impact, and contributes to the fulfillment of the Sustainable Development Goals (SDGs).

To achieve these goals, Banreservas has an organizational culture that adapts to changes in an agile manner, while remaining a benchmark of commitment, transparency, ethics, integrity, and security.

The institution’s undisputed leadership makes it an engine of the national economy. Therefore, among its strategic priorities for 2024 are to continue its international expansion, provide support to the productive sectors with low-cost financing, promote digital transformation and strengthen cybersecurity systems, and foster financial inclusion for all Dominicans.

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