The Superintendency of Banks of the Dominican Republic published remarks by Superintendent Alejandro Fernández W. from a conference on digital banking and fintech delivered during the second Dominican Week in Spain, highlighting progress in digital banking, enabling regulation and financial system stability. He pointed to the implementation of digital customer authentication (eKYC), the deferral of technology expenses and a regulatory sandbox as key measures supporting sector digitalisation. The update cited market indicators including 91% of users reporting trust in banking apps, 70% of banks using APIs and 69% maintaining partnerships with fintech firms. It also described the Dominican banking system as comprising 44 financial institutions with assets of USD 65.81 billion and a solvency ratio of 18.4%, alongside high provisioning and coverage levels, and noted that the United States and Spain accounted for more than 50% of foreign direct investment flows in 2024. On financial integrity, the remarks referenced a 33-place improvement in Transparency International’s Corruption Perceptions Index and ongoing participation in international bodies including GAFILAT, the Egmont Group, GELAVEX-OEA, the OECD and IOSCO.
Superintencencia de Bancos de la Republica Dominicana 2025-10-29
Superintendency of Banks of the Dominican Republic highlights eKYC, regulatory sandbox and digital banking adoption in Madrid speech
The Superintendency of Banks of the Dominican Republic highlighted digital banking advancements and regulatory measures, including eKYC and a regulatory sandbox, during a conference in Spain. Superintendent Alejandro Fernández W. noted high user trust in banking apps and significant fintech partnerships. The Dominican banking system, with assets of USD 65.81 billion and a solvency ratio of 18.4%, showed strong financial integrity and improved Transparency International’s Corruption Perceptions Index rankings.