Spanish
The Savings and Credit Banks and Credit Corporations Association (ABANCORD) held its XI Annual Congress 2025 under the theme "From Risk to Opportunity: Artificial Intelligence transforming financial institutions in the Dominican Republic."
The meeting brought together financial authorities, banking representatives, and international experts to discuss how AI is already transforming the Dominican market through early fraud detection, prevention of money laundering, real-time regulatory compliance, and the design of products that facilitate the inclusion of more citizens in the financial system.
The CEO of ABANCORD, Cristina de Castro, emphasized the institutional vision: "This congress confirms that AI only makes sense if it translates into innovation with purpose: more trust, better service, and greater financial inclusion for the Dominican Republic." That line was echoed during the opening conference by the Superintendent of Banks, Alejandro Fernández W., who highlighted that the advances of SupTech and RegTech allow authorities to analyze data in real time and anticipate liquidity and solvency risks. In his words, "artificial intelligence complements—does not replace—professional judgment and ethics. Today, supervision can be more agile and preventive, with better tools to combat fraud and money laundering."
The program included the keynote conference by EY Panama on the new paradigms of AI in financial services, as well as a panel moderated by the Superintendency of Banks with Visa Dominican Republic and GOvox, which emphasized that artificial intelligence not only generates efficiency, but also strengthens customer trust and opens up banking opportunities in a country where around three million people still remain outside the formal system.
In the technical session, BDO consultant Mario Galvache warned that artificial intelligence projects do not reach their true potential if they are not managed with order and transparency. "Without governance, disciplined implementation and measured ROI, AI projects do not scale. Explainability and bias control are as crucial as the code," he pointed out.
The closing was led by Mercedes Canalda, president of Banco ADOPEM and a member of the ABANCORD board of directors, who highlighted the opportunity to expand financial inclusion from savings and credit banking. "For us, AI is a tool that can democratize access and increase productivity; our commitment is to apply it with responsibility and transparency," she said.
With this edition, ABANCORD consolidates the congress as a reference space where the financial sector outlines priorities to convert the challenges of the digital age into more competitiveness, stability, and inclusion for the Dominican Republic.
