A bank providing resources within the reach of Dominicans Produced by Jassen Pintado Creative Direction Omar Rodríguez Interviewee Ben Domínguez, CTO for Banco ADEMI
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Financial
Banco ADEMI
Banco ADEMI’s Digital Transformation puts together an array of resources able to fulfill the purpose of offering credit along with other financial products and services to Dominicans. Ben Domínguez, CTO for Banco ADEMI, shared details with us about this process and its achievements
WOULD YOU BRIEFLY SHARE WITH US SOME DETAILS ABOUT BANCO ADEMI? The Association for the Development of Micro-enterprises, Inc. (ADEMI), a private, non-profit institution, began operations on April 1st, 1983 in the most vulnerable sectors of the city of Santo Domingo with the main purpose of creating employment through financial assistance for micro- and medium-sized enterprises.
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Banco ADEMI
Financial
In 1997, the Monetary Board
as the largest bank in the country
authorized the entity to become Banco
servicing micro-, small and medium-
de Desarrollo ADEMI, S.A. (ADEMI
sized enterprises.
Development Bank), led by its founding
After operating for 40 years,
president, don Camilo Lluberes
a workforce of more than 1,500
Henríquez, starting operations in 1998.
collaborators and a portfolio
As part of its transformation process, consisting of more than 300,000 in 2005 it was authorized by the
customers, the bank has strengthened
Monetary Board to become a savings
its value proposition through 74
and credit bank.
locations countrywide, creating
Since May 2013, the bank is
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a close relationship with Dominicans,
authorized to offer every product and
and catering to their needs along
service that multiple services banks
their journey to be included into
in the Dominican Republic provide.
the financial system.
Along the years, Banco Múltiple
From its beginnings, Banco ADEMI
ADEMI, S.A. (ADEMI Multiple Bank)
has relied on the support of institutions
has been in a solid position in the
such as the European Investment
microfinance segment as a financial
Bank, the Inter-American Development
entity able to maintain constant
Bank, as well as the Dominican
innovation in its product and services
private sector.
offer, adapting them to its customers’
The bank has more than $323
needs. The wide experience of its main
billion in assets, a deposit portfolio
stockholders along with its operational
of almost $275 billion and a credit
model has allowed its consolidation
portfolio of $244 billion, and the
Issue #31
Financial
Banco ADEMI
BANCO ADEMI HAS RELIED ON THE SUPPORT OF INSTITUTIONS SUCH AS THE EIB, THE IDB, AS WELL AS THE DOMINICAN PRIVATE SECTOR - Ben Domínguez, CTO for Banco ADEMI
average amount of loans among customers is around $1,500. This financial entity also stands out as a top reference in the financial market in Dominican Republic: • 19.93 percent solvency index, for 2nd place • 5.03 percent ROI, for 1st place • 25.63 percent ROE, for 5th place
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Banco ADEMI
Financial
WHICH FINANCIAL PRODUCTS
and Factoring
AND SERVICES DOES BANCO
• Credit Cards: Persons
ADEMI OFFER? WHICH SEGMENTS
and Business
COMPRISE THE BANK’S MAIN
• Savings Accounts: in Pesos
CUSTOMERS?
and U.S. dollars
In Banco ADEMI, we drive our clients
• Transaction Accounts
to the fulfillment of their goals and
• Certificates in Pesos and
contribute to their businesses’ growth
U.S. dollars
with help from financial products and
• Time Deposits
services catering to owners of micro-, small- and medium-sized enterprises
We also offer a wide array of
in industries such as manufacturing,
services such as:
commerce and services, even if an
• Bank insurance
entrepreneur isn’t formally registered
• Remittances
as a business or a natural entity yet.
• Foreign currency
Our portfolio consists of credit,
• Services/utilities payments
savings and investment products, such as:
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Issue #31
As part of our social impact strategy,
• Personal Loans: Purchases,
we provide loans from $90 to enable
Vehicles, Educational, Home
our customers’ access to working
Improvement and Mortgage
capital, cover their business’ needs
• SME Loans: Microcredit,
and achieve their growth plans. We
Commercial, Agricultural and
contribute to the agricultural industry
Clean Energy
by offering loans able to help farmers
• Credit Lines: Commercial
during their crop cycles.
Financial
Banco ADEMI
Also, our Housing Improvement program directly impacts Dominicans’ quality of life and micro-enterprise business owners, supporting them in the rebuilding and remodeling projects for home or business. On a different front, we reinforce our commitment and sustainability strategy via the ADEMI Foundation, by allocating funds to finance clean energy projects. WHAT WAS BANCO ADEMI LIKE BEFORE BEN DOMÍNGUEZ AND WHERE IS IT HEADING AFTER BEING NAMED CTO?
approach, aiming to service,
As I took over this role, I could detect
innovation and continual improvement
crucial points that had to be reinforced of tech processes, enabling us to in the Tech area, which possessed provide value to the operation and a rather operational approach rather
support the initiatives in our Digital
than a strategic one, with scarce
Transformation plan.
alignment toward best practices and agile methodologies. Our goal in this tenure is to develop a team with a strategic
This new approach and reorganization imply a great challenge which we take on with commitment and enthusiasm.
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Banco ADEMI
Financial
OUR GOAL IN THIS TENURE IS TO DEVELOP A TEAM WITH A STRATEGIC APPROACH, AIMING TO SERVICE, INNOVATION AND CONTINUAL IMPROVEMENT OF TECH PROCESSES - Ben Domínguez, CTO for Banco ADEMI
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Banco ADEMI
WHAT SETS APART BANCO ADEMI
has changed in our context, which
FROM THE COMPETITION? WHAT
has thrust us into an imminent Digital
MAKES CUSTOMERS CHOOSE
Transformation process.
BANCO ADEMI?
As a result of a clear understanding
Since 40 years ago, we have
of our environment, the firm decision
supported the entrepreneurial spirit
to create an Innovation Committee
and offered a hand to Dominican
was taken, this committee outlined
families, with a groundbreaking array
the patterns and led the way of our
of financial products for micro-,
new strategic plan with important
small- and medium-sized businesses,
innovation elements. Among the key
driving the economic development
guidelines in our new strategic plan,
and projects of the country’s most
Agile Governance emerges to prioritize
vulnerable population.
decisions guaranteeing that our efforts
The ADEMI family consists of
be carried out in a proper, coordinated
more than 1,500 collaborators
and timely manner. We have created
wearing their hearts on their sleeve
an express lane guaranteeing our
with the mission of transforming the
processes’ speed and results.
lives of Dominicans, one success
Our goal is to remain in the
story at a time.
leadership of microfinance development, contributing to our
WHICH ARE THE MAIN GOALS
customers’ growth through innovative,
CONSIDERED IN THE BANK’S
easy to access solutions that allow
DIGITAL TRANSFORMATION
them to choose products and services
AND INNOVATION PLANS?
through the best digital channels.
We’ve perceived the way the game
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Banco ADEMI
Financial
IN WHAT MEASURE HAVE
implemented in the institution. The
YOU SET FIXED OR CONTINUAL
plan’s main points are aimed toward
OBJECTIVES WITHIN THIS DIGITAL
customers, efficiency, operational and
TRANSFORMATION AND WHICH
technological abilities, and talent.
GOALS HAVE BEEN SET TO
With this plan we are looking to
BE ACHIEVED DURING A
transform ourselves without resigning
DETERMINED PERIOD?
to our essence and mission, to
Digital Transformation is a continual
become digitized without leaving
process. We engaged in a never-
behind those with less advantages,
ending journey, we will continue to
to get rid of paperwork and find
transform ourselves to achieve higher
our path to becoming an agile
efficiency levels in the quest to offer
organization designed toward
the best experience.
innovation, and be able to find and develop the required talent.
WHICH SHORT-, MID- AND/OR LONG-TERM PLANS FROM
year to develop tech abilities, the
BANCO ADEMI WOULD YOU
innovations we’ll be deploying and the
SHARE WITH US?
talent’s adaptability.
Towards the end of 2021 we
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Twenty twenty-two was a key
In the same way, with the purpose
developed the new strategic plan
of becoming our customers’ main
with 2024 in sight, which establishes
partner, we’ve offered them a wide
the essential guidelines being
array of channels to simplify their
Issue #31
Financial
Banco ADEMI
day-to-day operations, with the
optimizing quality and efficiency
ADEMI app and ADEMI Online
indexes. I’ve taken part in bank
digital platforms among them,
merging and been a key element
with a 70 percent enrollment rate
in projects engaging in processes
and 29 percent transaction rate,
and systems reengineering, core
compared to 2021.
deployments for banking, credit cards, PeopleSoft ERP, BPM,
WOULD YOU SHARE A FEW FACTS
and new location operations model,
ABOUT YOUR CAREER IN RESPECT
among others.
TO YOUR EDUCATION, WORK EXPERIENCE AND AWARDS, AS WELL AS OTHER ACCOLADES? My higher education started by enrolling into Information Systems Engineering. Afterwards I earned an MBA from UQAM (University of Quebec in Montreal). I possess more than 25-year experience in finance, specifically in the Tech and Operations areas. In
FOUNDED: 1983 INDUSTRY: Financial CONTACT: bancoademi.com.do bedominguez@bancoademi.com.do
my career, I’ve led multidisciplinary teams into achieving strategic goals,
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bancoademi.com.do
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