News

Ecuadoran bank expands services to banked, underbanked

May 13, 2014

As part of its “transaction migration project,” Ecuador’s Banco de Guayaquil is implementing 72 Opteva ATMs from Diebold Inc. with enhanced note acceptance and bulk document intelligent depository modules. The modules will help the bank to provide a teller-like experience while maintaining transaction efficiency.

Banco de Guayaquil serves approximately 1.6 million customers through a network of more than 200 branches, 890 ATMs and a growing number of retail banking outlets. The bank is undergoing a transformation to expand its services, including migrating transactions to full service automation.

The FI also is implementing more than 1,300 point-of-sale terminals to expand its network as part of Banco del Barrio, a financial inclusion channel that covers more than 216 of 221 municipalities in Ecuador.

This channel enables merchants to manage consumers' transactions using POS terminals, allowing bank customers to deposit and withdraw cash, review account balances and make utility payments at the POS.

"Through our transaction migration project and Banco del Barrio program, we are extending banking services to consumers who may not otherwise have access," said Miguel Vareles, VP of transactional banking at Banco de Guayaquil. "This is a very important part of Banco de Guayaquil's efforts to reach a wider customer base, delivering the convenience of banking services to underserved markets."