Silicon Valley recognizes Davivienda for its dynamic use of fintech innovation to revolutionize the financial world
Plug and Play, an open innovation platform based in Silicon Valley that gathers major investors, startups, and corporations from around the world, has for the first time recognized a Latin American bank as the most active company in the fintech ecosystem. Davivienda has leveraged the best technologies in the world through a digital offering that facilitates everyday life for its customers. In its tenth edition, Plug and Play has recognized Davivienda amongst more than 65 companies from 28 countries, including banks such as BNP Paribas, Deutsche Bank, US Bank, Citizens Bank and ING, among others. This is a testament to Davivienda’s innovation leadership and keen focus in customer satisfaction.
“We are committed to designing innovative products and services that blend into people’s lifestyles through simple, reliable, and friendly experiences. This can only be achieved by working with the most disruptive startups in the world” stated Maritza Pérez, Chief Retail Banking Officer at Davivienda. This continuous work in innovation has allowed Davivienda to position itself in the market featuring groundbreaking solutions such as:
- DaviPlata, the first E-wallet platform in Colombia, a financial App that serves 5.7 million customers through a portfolio of easy-to-use services that are 100% digital.
- 100% mobile bank accounts, loans and investments. Today, 76% of Davivienda’s customers conduct their transactions via digital channels.
- The “Little Red House Key,” developed in conjunction with an Israeli startup in 2016, helped Davivienda to become the first bank in the world to natively support financial transactions through any social network.
- RappiPay Davivienda, an innovative offer that makes people’s daily life easier was launched in 2019 as a result of a partnership with “Rappi,” the first Colombian unicorn and superApp.
“This is just a glimpse into the digital solutions rolled out by Davivienda. We will continue to work hand in hand with great partners such as universities, research centers and accelerators around the globe. We also rely on Domoi, our Innovation Center, where co-creation, partnerships, research, and patent development are everyday priorities,” stated Óscar Rodríguez, Chief Innovation Officer at Davivienda. Today, Davivienda is a regional benchmark thanks to its innovation model that has been around for more than 10 years.
“We have been innovation partners of Grupo Bolivar for the past two years and are extremely happy to see the results of our collaboration turn into reality, improving the region’s economic development with the help of Davivienda,” said Saeed Amidi, founder, and CEO of Plug and Play.
Davivienda works tirelessly to offer customers alternatives that simplify their lives and contribute to the development of the countries where the Bank operates.
“Our commitment to innovation is focused on increasing our contribution to the economic development of the region. Therefore, our top priority is to develop innovation skills in our team in collaboration with the ecosystem”, mentioned Efraín Forero, Chief Executive Officer at Davivienda.
At Davivienda we believe in a financial world without restrictions that simplifies life for people, communities, businesses, and cities. As a result, today we are a team of more than 17,000 people in Colombia, Panama, Costa Rica, Honduras, El Salvador, and Miami, innovating, investing in knowledge, talent, and technology, through partnering and seeking best practices around the world. Our goal is to offer every day and exclusive solutions to more than 11 million customers, enabling greater financial inclusion and sustainable development. We are currently the second-largest bank by portfolio in Colombia*, with a network of 698 branches and around 2,600 ATMs owned in Colombia and through our international subsidiaries. We are proud to be part of the Bolívar Group, and since 1972 we have devoted our efforts to improve lives by supporting individuals to build their own wealth, their families’ and their companies. We are committed to the development of the business sector, commerce, rural communities, and the region overall.
**Financial Superintendence (Figures as of June 2019)
DaviPlata is the digital solution that democratized access to financial services in Colombia through mobile phones. DaviPlata was the first platform that allowed any Colombian to transfer money through social media; the first one to allow transactions to other banks completely free; the first one to offer a free virtual card with immediate activation; the first-in-class to offer several services like mobile payment of subsidies, cardless ATM use, no usage of data plan while navigating the app, and the first one to accommodate people with disabilities. Today, DaviPlata enables its partners to connect their business ecosystems to potentiate their value-added strategies with all stakeholders. As of 2019, DaviPlata has more than 5.7 million customers, positioning itself as a leading mobile platform, easy to use and within everyone’s reach.
Rappi is a Latin America ́s superApp, whose aim is to make life easier for people by giving them back their time so they can spend it on the things they want. The platform provides access to instant delivery of virtually everything, from supermarkets to restaurants, cravings, and pharmacies, featuring the RappiPay payment platform. Rappi uses technology to create new and innovative sources of growth and development in Rappitenderos (delivery personnel), restaurants, supermarkets, retailers and new start-ups. It operates in Brazil, Colombia, Mexico, Argentina, Chile, Uruguay, and Peru. In 2016 the company was accelerated by Y Combinator, the world’s largest startup incubator. At the beginning of 2018, it received USD $185 million, which led to its expansion to Brazil and Latin America; in September 2018, it received more funding, this time for USD $220 million, becoming the new Latin American unicorn. In 2019 a new investment was made, this time by SoftBank Group Corp (“SGB”) and the SoftBank Vision Fund worth approximately one billion dollars. This investment was the largest of its kind for a technology company based in Latin America.
About Plug and Play
Plug and Play is a global innovation platform. Headquartered in Silicon Valley, we have built accelerator programs, corporate innovation services, and an in-house VC to make technological advancement progress faster than ever before. Since inception in 2006, our programs have expanded worldwide to include a presence in over 30 locations globally giving startups the necessary resources to succeed in Silicon Valley and beyond. With over 10,000 startups and 300 official corporate partners, we have created the ultimate startup ecosystem in many industries. Companies in our community have raised over $7 billion in funding, with successful portfolio exits including Danger, Dropbox, Lending Club, and PayPal.
Jackie Hernandez, SVP Global Partnerships