Friday, 27 May 2022 17:15

Davivienda highlights digital transformation in its banking services offerings

Written by Evelyn Alas

Davivienda remains at the forefront promoting financial inclusion and digitization in the supply of its banking services through new technological platforms and creating a simplified ecosystem that has allowed its users to manage their products and services in a simpler, more reliable and friendly way.

During the event called "Banks of El Salvador promoting the development of the country", organized by the Asociación Bancaria Salvadoreña, ABANSA, the executive president of Davivienda, Engineer Gerardo Simán, supported the work done by the institution in these issues, which has allowed that since the beginning of the pandemic and to date has achieved an opening of 200 thousand 100% digital accounts, called Móvil account and Daviplata, the first and most successful simplified savings account in the country.

As indicated by the president of Davivienda, in 2021 they achieved that 72% of new account openings will be digital and 65% of time deposits will be made by the same way.

In addition, on the corporate side, in Credinegocio (revolving credit line that allows 24/7 disbursements in just 3 clicks) they doubled digital disbursements to SME clients made through online banking and APP PYME. This meant going from a disbursement of US$4.2 Mills in 2019 to US$9.0 Mills in 2021.

"Davivienda has transformed itself so much in the last 3 years, more than in a previous decade, with simplified processes and new products such as accounts, installment certificates, credits and insurance 100% digital and a credit card sales process in which the client can self-serve or contract them from our allies and leave with the first purchase with a discount or promotion", said Gerardo Simán, executive president of Davivienda El Salvador.

For Davivienda it is important to continue promoting digital alternatives, so it is currently also making an effort to promote payments through QR, an innovative way to make purchases in stores, only using its APP Davivienda or Daviplata.

According to the Davivienda representative, the response of users to the offer of digital services has been very positive, because it allows them to manage their products and services in a simpler way.

Since the beginning of the pandemic, the digital penetration of its customers increased from 27% to 42% for individuals and from 74% to 85% for companies.

This data is reflected in the fastest growing channel, its APP Davivienda El Salvador, and in turn, the reduction of cash transactions. UNI and Transfer365 transactions have grown 430% while checks have fallen 31%.

In addition to digital products, Davivienda has facilitated access to savings accounts offering opening with zero dollars in digital products, unlimited transfers without membership costs, 4 free withdrawals in its ATM network and free navigation in its applications; as well as, collect family remittances without having to go to a bank agency.

Within the framework of the activity led by the Asociación Bancaria Salvadoreña, panels were held on financial inclusion and digitalization of services, and environmental and social issues related to the financial sector were also addressed.

According to the president of the association, Raúl Cardenal, El Salvador has solid, strong, innovative, sustainable and inclusive private banks, willing to continue working for the welfare and development of our beloved country.