Beyond banking

Banking & Finance
| The European | 21st January 2019
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*Above | Ricardo Cuesta Delgado, CEO of Produbanco

Banco de la Producción S.A., (Produbanco), began operations in Ecuador 40 years ago. It is the country’s third largest commercial bank by asset size and is part of Grupo Promerica, a financial services group with banks in nine countries across Central and South America, and is an undisputed leader in Ecuador’s corporate market. One of the four pillars of Produbanco’s long-term strategy is maintaining its dominance in the corporate market. The other three pillars are, executing a responsible risk management strategy, offering cutting-edge omnichannel banking and expanding its personal banking, cards, commercial middle market and SME businesses.

Produbanco intends to achieve these goals by reinforcing its customer-centered culture, enhancing relationships between the different market segments and strengthening relationships with existing customers. The bank believes in utilising the most innovative technology available and exploiting the strengths of the Produbanco brand and corporate image to drive objectives forward.

One of Produbanco’s main strategies in terms of service quality is the creation of an institutional culture of excellence in customer service – based on one of the corporate values of the bank “Our essence is the Customer”. Building memorable experiences for its customers’ interactions with the bank’s physical and virtual channels is an institutional priority.
The bank shifted and strengthened its service quality programme to provide client-facing employees with the necessary tools and resources to make it easier for them to understand customer preferences and priorities.

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Inside a Produbanco service centre

Top performer

Produbanco received the Ekos Gold Award in 2017 and 2018 and scored highest in the Ekos Customer Satisfaction Index (IESC) within the “Large Banks” category. The IESC is a measurement tool used by the Ekos Corporation. Through random telephone surveys various service aspects are evaluated, including, service level satisfaction, willingness to recommend the brand, repurchase intention, perceived value (price versus quality) and negative customer experiences.

Produbanco has been undergoing profound changes in the way it thinks about the business, its people and its clients. In 2014, the bank started working on a strategic technological roadmap that is directing it towards complete digital transformation. More importantly, a shift in the values and mindset is set to make this transformation as seamless as possible for its customers. Produbanco has started to think and act like a digital company that is fully focused on enhancing the client experience.

In 2018, the bank has successfully trained key personnel in various methodologies that will enable this cultural shift. Over 100 executives have completed their Design Thinking training. Additionally, 100 executives and developers are now trained in project management tool, SCRUM.

Additionally, Produbanco has launched its new self-service branch, a different service concept that allows customers to carry out transactions through interaction with advanced technological equipment. In these branches, the interactive equipment has replaced the cashiers and advisors of a traditional bank branch. The concept helps its customers transition into the digital era; the self-service branches have a simple yet elegant design and are equipped with multifunctional ATMs.

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Produbanco’s head office in Quito, Ecuador

The most innovative solution at these branches is the automated kiosks, where customers can access the bank’s website and be assisted via video-conference by an executive who will advise the customer on products, services, and respond to any requirements or complaints. Produbanco’s self-service branch is the first branch of its kind in the country and is located in Ecuador’s leading retail supermarket chain, one of Produbanco’s most relevant customers.

Supporting the community

Through its corporate social responsibility programme, Produbanco actively and voluntarily contributes to social, economic and environmental programmes and initiatives. Produbanco interacts with shareholders, employees, customers, suppliers and the community, according to annual planning and the organisation’s strategic guidelines.

In 2018 the bank continued to support the Your Change for Change Foundation and continued to finance those projects in Quito and Guaranda. In Quito, the Your Change for Change Educational Project was rolled out, which supports approximately 260 children and adolescents between six and 18 years of age who live in difficult conditions or have been victims of violence or abandonment. In the project in Guaranda – which is aimed at improving the quality of life for inhabitants of San Simón, in the province of Bolívar – Produbanco helps to support the development of around 400 families through educational, nutrition, agriculture production, self-management and community action plans.

The United Nations Global Compact representation in Ecuador awarded Produbanco for good sustainable development practices according to the OSD 9 Industry, Innovation and Infrastructure guidelines. “We participated in the Green Lines project, a programme aimed at the business sector through which specialist green loans are granted, with preferential conditions targeted at diverse productive sectors of the country,” said Ricardo Cuesta Delgado, CEO of Produbanco.

The Green Lines Program was successfully implemented by multidisciplinary teams that analysed the initiative to create the most suitable financial structure for the Ecuadorian market, with a special focus on improving the productivity in the SME sector. The Program offers customers preferential conditions, including capital grace periods, capital and loan repayment terms, therefore turning it into an affordable line of credit for SMEs. This process involves a rigorous examination of the risks. The SARAS credit rating methodology was implemented and Produbanco’s SME customers have benefited from a total of $50m in disbursements that have been allocated since the launch of programme back in August 2016.

In 2018 Produbanco has published the 11th Corporate Social Responsibility Report, which was produced in accordance with Global Reporting Initiative (GRI) G4 Standards. The report includes the work carried out in 2017 across social, economic and environmental areas for Produbanco’s groups of interest. Produbanco also holds GRI Materiality Disclosures certification, which legitimises the correct presentation of all material aspects reflected in the report.

Furthermore, the bank is also at the forefront of the global shift towards clean energy adoption – and away from activities that generate an abundance of carbon emissions. 2018 marked the third year in a row that it received Carbon Neutral Certification, which is given to organisations that are committed to promoting activity that reduces and offsets carbon emissions generated by their operations.

Further information
produbanco.com

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