July 29, 2021

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Banco Popular reaches 1 million digital users

The digital platform of Banco Popular Mi Banco, reached one million monthly active users, the chief IT officer of the financial institution, Camille Burckhart, reported today during a virtual meeting with the press.

“This month we reached the figure, which was not our goal to reach at the beginning of the year. It was our goal to reach the end of the year or the beginning of next year. It is a great milestone for us, "shared Burckhart, who described as" incredible and pleasant "that it was achieved just when Mi Banco turned 20.

For his part, Moisés Peña, vice president of digital banking, reported that during the pandemic "we have seen a 41% increase in new registrations to Mi Banco compared to April and May 2019".

"We have never seen such a high volume of registrations and active customers," he stressed.

Of that total, almost 30% of the registrations came from the population segment of adults over 65, "and that normally ranges between 10% and 12%," he said. “We grew in two months what we grew organically in one year.”

Peña also reported that in May more than 50 million sessions were registered in Mi Banco, 35% more than the same month in 2019. [19659004] In addition, due to commercial closings and physical distancing protocols, now 3 out of every 4 checks you deposit using the mobile application or at an ATM. In the specific Mobile Easy Deposit usage, usage grew 160% versus the previous year.

“Customers using remote deposit doubled and deposited five times as much money as before the pandemic, an increase of 500% in monetary volume in the deposit of checks ", detailed Peña.

" Those five times more it would have taken us a couple of years ", acknowledged, on his part, Rachid Molinary, senior vice president of digital strategies.

"Our hope is that those who tried (the digital alternatives) will continue to use them because they saw the convenience and saw that it was safe," he added.

However, both Molinary and Burckhart stressed that Popular has no interest in forcing this adoption to reduce even more the footprint of their face-to-face services, but to enhance the best experience for their users, given that -according to the internal studies they carry out- the accessibility and breadth of their network are among the competitive advantages Most appreciated by the clientele.

“We want to offer the best possible experience. Understand the needs and make it easier for Popular's clients to carry out the transactions they want, where they want, when they want ”, assured Molinary.

According to data provided by the executives, more than 70% of all Banco Popular clients have registered with Mi Banco and, of that total, 77% use the platform monthly to make

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