Banco Pichincha Digital Transformation and Innovation

Banco Pichincha has undergone significant digital transformation in recent years. The bank has invested heavily in modernizing its technology infrastructure to improve customer experience and efficiency.

The bank's digital transformation has enabled customers to access a wide range of services online, including account management, bill payments, and loan applications. This has greatly reduced the need for physical branches and increased customer satisfaction.

Banco Pichincha has also introduced innovative mobile banking services, allowing customers to manage their accounts and conduct transactions on-the-go. The bank's mobile app has been well-received by customers, with many praising its user-friendly interface and convenient features.

As a result of its digital transformation, Banco Pichincha has seen significant improvements in customer engagement and retention. The bank's efforts to innovate and improve its services have paid off, with customers rewarding the bank with increased loyalty and satisfaction.

Banco Pichincha was established on April 11, 1906, making it a long-standing institution in Ecuador.

Its first directors were Manuel Jijón Larrea, Manuel Freile Donoso, and Ignacio Fernández Salvador. The bank initially focused on stockbroking, but over time, it expanded its services to become a full commercial bank.

Banco Pichincha has a presence in several countries, including Ecuador, Peru, Colombia, and Spain. In 1986, the bank established an agency in Miami, Florida, to cater to its international clients.

In 2001, ABN AMRO sold its Ecuadorian operation to Banco Pichincha, further expanding its reach. The bank acquired AIG's operations in Colombia in 2009, which included the commercial lender, Inversora Pichincha.

Today, Banco Pichincha operates a network of customer-service centers, mainly focused on serving the Ecuadorian community in Spain. The bank plans to convert these centers into branches and open more branches in the future.

Here's a brief overview of Banco Pichincha's key milestones:

Banco Pichincha has implemented a range of innovative services and technologies to improve the lives of its employees and customers. One notable example is "Mi Portal", an application that provides personalized services to employees, including access to benefits, financial services, and even COVID-19 symptom tracking.

The app has been a huge success, with 85% of employees using it regularly. This is a testament to the bank's commitment to using technology to make a real difference in people's lives.

The bank has also seen significant returns on its investment in technology, with a 285% return on its IT investment. This is largely due to the reduction of routine tasks and the increase in user satisfaction.

Mi Portal is an application that brings human resource management services directly to employees. It's a game-changer for companies with a large workforce.

The HR department at Banco Pichincha Perú used to spend a lot of time answering the same questions from employees multiple times a day. This was a huge waste of time and resources.

The application offers a range of services, including information about employee benefits, access to financial services, and even a COVID-19 symptom tracker. This tracker allows employees to report their symptoms and receive follow-up care from a doctor.

But what's really impressive is that Mi Portal also offers emotional support services. Employees can request a counseling session with a psychologist through the app, which can be a huge help during difficult times.

Today, 85% of Banco Pichincha's employees use Mi Portal, and the app is constantly evolving with new features. The team is able to create better solutions for their employees because of the flexibility Power Apps provides.

Banco Pichincha Perú achieved a 285% return on their IT investment by implementing almost 50 Power Apps.

This significant return on investment allowed them to reduce the average hours of manual labor spent on routine tasks by over 2000.

The bank's Arquitecto Empresarial, Pedro Alvarez, plans to continue using the same architecture but with improved storage capabilities for increased security and data protection.

Dataverse and Azure Blob Storage are the chosen solutions to ensure sensitive information is safeguarded.

Power Apps enabled the bank to quickly address their needs with tailored solutions, as Pedro Alvarez noted.

The democratization of technology has transformed the bank's culture, and they will continue to strengthen it with Microsoft solutions.

Banco Pichincha has made significant strides in innovation and impact through its digital transformation. This transformation has allowed the bank to anticipate its customers' needs and provide a more integrated and valuable experience. The bank has been able to optimize its internal and external customer service times through case management and centralized commercial management.

The bank's results are impressive, with a 33% increase in clients per employee through standardization and productivity. Additionally, the commercial team has achieved 100% adoption of the Salesforce Financial Services Cloud. This has led to a 10% increase in lead conversion rates due to better control panels.

The bank's customers have also seen a positive impact, with a 55% reduction in overdue credit lines due to improved renewal and collection processes. This, along with a 20% reduction in sales cycles and a 25% increase in customer service team capacity, has resulted in a more efficient and customer-centric experience.

Banco Pichincha Perú identified a new segment to serve: the PyME sector. This new target market required a tailored solution to meet their unique needs.

A tool called "CrediApp" was developed on Power Apps to support the credit process for this new segment. CrediApp took approximately three months to implement.

The application is used by PyME advisors, group leaders, analysts, and risk managers, and it includes features like prospecting, credit evaluation, disbursements, commercial agendas, and evaluation histories.

CrediApp is not just for office use; it's also field-friendly, making it a significant advantage for Banco Pichincha's advisors who need to visit clients. The tool's ease of use and quick loading times make it a valuable asset for the advisors.

With CrediApp, the time spent on activities by PyME advisors was reduced by 22%, allowing them to generate two additional operations per month. This tool has become an essential support for the credit process of Banco Pichincha's new PyME banking segment.

Implementing digital transformation has a significant impact on processes and productivity. Banco Pichincha's transformation has allowed them to anticipate client needs and provide a more integrated and valuable service.

A 33% increase in clients per employee was achieved through standardization and productivity gains. This is a notable result, demonstrating the effectiveness of digital transformation in improving operational efficiency.

The adoption of Salesforce Financial Services Cloud has been 100% successful among the commercial team. This indicates a high level of engagement and commitment to the new technology.

Better panels of control have led to a 10% increase in lead conversion. This suggests that the new system is helping to streamline processes and improve decision-making.

A 55% reduction in overdue credit lines has been achieved due to improved management of the renewal and collection process. This is a significant improvement in financial management.

The cycle of sales has been reduced by 20%. This indicates that the new system is helping to speed up the sales process.

The capacity of the customer service team has increased by 25%. This suggests that the new system is helping to improve the efficiency and effectiveness of customer service.

A 30% reduction in time has been achieved in the disbursement of discount products, loans, and financings. This is a significant improvement in operational efficiency.

By implementing Salesforce Financial Services Cloud, Banco Pichincha has been able to improve its processes and productivity, leading to better outcomes for its clients and employees.

Banco Pichincha's electronic transactions are done using the INTERNEXO system, which replaced the TODO1 system.

The bank signed a $140 million, 5-year contract with Tata Consultancy Services in January 2007 to modernize its information systems and improve efficiency.

Tata Consultancy Services hired most of Banco Pichincha's systems staff as a part of this agreement.

Ecuador is a country with a unique blend of indigenous and Spanish cultures, where the Galapagos Islands are a major tourist attraction and the Amazon rainforest covers over 60% of the country.

The country's capital, Quito, is a UNESCO World Heritage Site and features a well-preserved historic center with cobblestone streets and colonial-era architecture.

Ecuador is also home to the world's highest active volcano, Cotopaxi, which stands at over 19,000 feet tall and is a popular destination for adventure seekers.

The country's diverse geography is also reflected in its climate, which ranges from tropical in the Amazon to temperate in the highlands.

Ecuador's economy is primarily driven by agriculture, with major exports including bananas, flowers, and cocoa.

Tourism is also a significant contributor to the country's economy, with visitors drawn to the Galapagos Islands, the Amazon rainforest, and the country's rich cultural heritage.

Ecuador's banking system is quite impressive, and one notable example is Banco Pichincha's use of the INTERNEXO system for electronic transactions.

This system replaced the TODO1 system, showing how technology is constantly evolving in the country.

In 2007, Banco Pichincha signed a significant contract with Tata Consultancy Services to modernize its information systems and improve efficiency.

The contract was worth $140 million and spanned 5 years, demonstrating the bank's commitment to upgrading its technology.

Tata Consultancy Services also took on the task of hiring most of Banco Pichincha's systems staff as part of this agreement.