The amount of users that use the mobile applications of the financial intermediation entities (EIF) of the Dominican Republic grows every year, at least since 2021. But that increase has translated into economic and management challenges for the multiple banks (BM), savings and credit (BAC) and the savings associations and loans (AAyP).
The high costs fixed and operational related to the innovation It is the main obstacle that EIFs face in their process of digital transformation. This is how he collects it Digitization ranking of the banking sector 2025, prepared by the Superintendence of Banks (SB).
Financial entities point out that the most relevant challenge is high operating cost and financial associated with the innovationwhich includes substantial investments in technological infrastructurelicenses softwarespecialized consulting and systems maintenance.
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“For many EIFs, especially smaller ones, these expenses represent a significant barrier to adopting cutting-edge solutions on a sustained basis,” the report adds. On a scale of 1 to 10, the BM gave this factor a score of 7.8, while the AAyP 9.2 and the BAC 9.1.
In addition to this challenge, there is also the difficulty to attract and retain specialized talent in innovation and technology, an obstacle that savings associations and loans and savings and credit banks They place in second place, with scores of 7.0 and 7.1, respectively.
Meanwhile, this problem was positioned in fourth place for the multiple bankswhich are the most relevant EIFs in the financial system, with a rating of 4.5, behind the complexity in data management and risk cybersecurity (6.9) and the complexity for integrate new technologies to current processes.
Use in expansion
The SB document reflects a expansion considerable in the amount of users active financiers who use mobile application (app) of your financial institutions.
Only the multiple banks registered a growth of 935,845 customers who used that channel for their operations or queries, going from 3,877,153 registered last year to 4,812,998 as of March 2025.
Likewise, the savings associations showed an increase, placing their users assets at 488,034 as of the third month of this year, for a absolute increase of 33,702 in reference to the 454,332 registered the previous year.
The BAC and the public intermediation entities and mixed also had a increase in the number of people who used their apps. The first registered a positive variation of 14,902 users active and the second of 394, according to the report.
The challenges
Along with the advances, the high fixed and operating costs related to the innovation are the main obstacle that EIFs face in their process of digital transformation. This is stated in the document with the ranking.
The EIF indicate that the operational and financial cost associated with the innovation includes substantial investments in technological infrastructurelicenses softwarespecialized consulting and systems maintenance.
“For many EIFs, especially smaller ones, these expenses represent a significant barrier to adopt cutting-edge solutions in a sustained manner,” adds the report. On a scale of 1 to 10, the WB gave this factor a score of 7.8, while the AAyP 9.2 and the BAC 9.1.
In addition to this challenge, there is also the difficulty in attracting and retain the specialized talent in innovation and technology, an obstacle that savings associations and loans, and banks savings and credit rank in second place, with scores of 7.0 and 7.1, respectively.
Meanwhile, this problem was positioned in fourth place by the WB, which are the most relevant EIFs in the financial system, with a rating of 4.5, behind the complexity in data management and cybersecurity risks (6.9) and the complexity for integrate new technologies
Preferred alternate channel
The mobile applications of the financial intermediation entities constitute the alternate channel to branches preferred by the personal segment, with 77% utilization, according to the ranking.
The use of APPs experienced a growth of 10 percentage points, going from 67% to 77%, displacing the ATMs like him alternate channel more employed, although this increased five points compared to 2024, remaining this year at 73%.
