This year’s winner of the award for Latin America’s best digital bank, Davivienda, has not just adopted the digital channels of new startup rivals but has gone further. The bank has embraced digital banking, blockchain adaptation, artificial intelligence and the metaverse. The result is an intriguing and compelling mix of upgraded old-bank processes through digital infrastructure and completely new business opportunities.
The bank, under the leadership of chief executive Javier Suárez Esparragoza since November 2021, has developed a digital ecosystem to connect its customers and boost digital adoption. It now supports 170,000 small businesses and entrepreneurs through its apps, Mi Negocio and Mi Comercio, enabling these clients to reach customers more easily and supporting growth with digital payments, catalog creation, inventory management and other non-core banking functionality.
In the past year, the bank deployed over 50 application programming interfaces and moved from implementing four app versions a year to 14 upgrades in 2022.