Santo Domingo, DR.
there are more and more offers and the requirements They are also more flexible when a user formally enters the financial system.
Offers, discounts for purchases for consumption, affiliations to public or private services and even reimbursement of money is today a new banking model in the country thanks to the new products, the modernity of technological banking and the promotion of debit and credit card brands.
At least, it is what is observed in the country and that can be defined more than financial inclusion as the “democratization” of credit. And, this can only be done with a healthy system, with high liquidity and with the necessary financial regulations in banking that uses technology in its products (Fintech).
Recently banks have launched new products. In the case of the Popular Group, there is Qik, a fully digital business modelas well as the Banco de Reservas with the offer of credit cards to people with less income.
According to information from Grupo Popular, with Qik you can serve more people in a cost-efficient way. It is a completely different design from traditional banking, it can have access to more user information, which allows it to be evaluated and granted credit in a more inclusive and responsible way, by having a better understanding of the person’s profile and their ability to payment, according to your explanations.
“Qik’s value proposition is to give customers control over their financial life and that starts with the fact that the client controls his credit limit and adjusts it to what you need and can afford. For this reason, we not only offer products and services, but also financial education so that clients know how to manage themselves responsibly”, they told Listín Diario regarding the new digital bank.
Gabriel Pascual, executive director of Mastercard for the Latin American and Caribbean region, explained in this regard: There is more and more technology and knowledge for banks to serve small customers, which are many and volumes must be attended to make it a business, but the company he represents believes that leaving people out is a mistake and that is why they believe in banking, Pascual explained regarding the mass use of plastics for lower-income customers.
understand that the small customer must be helped and invited to participate in technology and enter formality, just as transparency is contributed.
In the case of Banco BHD, there are various offers for consumption, added to the availability of several debit and credit card products that can be ordered onlineincluding one for international use and payment of electricity.
state bank
The state-owned Banco de Reservas, in its approach to promoting bank access, has launched several financial services, among which the financial education program, Bancarizar es Patria and the recently launched VISA SER Banreservas credit card stand out.
Banreservas has the goal of including in the financial system one million Dominicans who are not linked to the financial system, which promotes Sustainable Development Goals and the United Nations Global Compactfavoring an inclusive financial culture, in support of the Dominican State to revitalize the economy, supporting the National Strategy for Economic and Financial Education (ENEEF) and the National Strategy for Financial Inclusion (ENIF).
The Reserve Bank says that it impacts excluded groups: low-income people, with volatile and unpredictable income, in uncertain working conditions, with educational levels that do not exceed the average level, generally young people. elderly and women.
Benefits
With the Visa Ser Banreservas credit card, recently launched, the entity seeks to provide people with less income with a reliable financial instrument, at low interest rates (from 2.92% per month), benefits and facilities in businesses and services.
Consumption
The new BR card includes benefits for consumption focused on covering basic needs in supermarkets, pharmacies, gas stations, education, transportation, health and entertainment. In addition, it will allow purchases to be made locally, internationally and online with billing in pesos, according to explanations from the Banco de Reservas.