Grupo Popular, one of Latin America’s largest financial groups with over $13bn in assets and over two million clients, owns Qik Banco.

The enterprise will give clients instant access to services via its software-as-a-service system on Temenos Banking Cloud. The digital bank will benefit from Temenos’s OpEx model, which enables companies to scale up according to business demand.

Arturo Grullon Finet, CEO of Qik, commented: “We wanted to create a bank with agility, flexibility and state-of-the-art technology to improve the banking experience and create availability to banking services to a larger portion of Dominicans. Our value proposition is focusing on people’s needs to maximise their time and resources, which is the demand of today’s customers

“That’s why we chose Temenos because its cloud technology has a successful track record across Latin America, and we knew that it could help us deliver a digital experience that redefines banking so that our customers can bank smarter, happier and more connected than ever before”, he continued.

A revolution of the banking system in the country

In November 2022, Grupo Popular selected banking and payments technology provider i2c to launch Qik Banco. Back then, Finet declared that his company was looking to revolutionise the Dominican Republic’s national financial system by giving customers instant access to digital cards and a tailored digital banking experience.

Enrique Ramos O’Reilly from Temenos added: “The banking landscape continues to evolve, with banks adopting new business models to beat the competition and reach new audiences, and fintechs challenging the status quo. Qik brings together the best of both worlds

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“Leveraging the Temenos Banking Cloud, Qik can quickly and easily experiment, innovate and launch new products to market to drive growth and enhance the customer experience. All while supporting the group’s sustainable vision by reducing carbon emissions by more than 90% compared to using on-premise infrastructure and applications and providing Qik’s customers with tools to measure and mitigate their carbon impact of their transactions”, O’Reilly explained.