Have you ever heard of Banco Provincial? Depending on how much banking you do and whether or not you do banking across the globe, you might already be very familiar with this bank. If you’re not, you would probably be interested to know that they do business in a very unique manner, much of which other banks would benefit from adopting. If you really want to know more about what makes this institution so unique, you can read about 20 different things that make it special below. By the time you’re finished reading, you’ll probably be wondering why all banks don’t adopt this kind of approach.
1. The company is based in Venezuela
If you’re thinking that you’ve never heard of the company, there might be a good reason for that. It’s a major bank, make no mistake about that. However, it’s also one that’s based in Venezuela, Caracas to be exact. While it’s easily one of the biggest banks in the region, if not the biggest, people that don’t do any type of international banking or who aren’t involved in finance may not have heard of it before. That is of course, unless you live in Venezuela. If that’s the case, then you’ve probably been doing business with the company for years.
2. They’ve been around since the 1950s
New banks come and go all the time but it’s relatively uncommon for one to be around for a number of decades, largely because the financial market can be so volatile. This bank has figured out how to stay the course. They started doing business in 1953 and they’re still going strong. If anything, the bank has only grown and expanded in the years since it originally opened its doors.
3. They are what’s known as a universal bank
The bank doesn’t just market itself as a universal bank, it truly is one. It’s basically the go-to bank for the entire country of Venezuela. In addition, anyone that does a lot of international banking is probably very familiar with this company, as they are a major force to be reckoned with. They’ve been expanding for several years now and they continue to do so, not at such a rapid pace that they might get in over their heads, but slowly and steadily.
4. They started working on certain specialties in the 1990s
This is one of the major methods that they have used to expand successfully. In the mid-to-late 1990s, they started working on special concerns for their consumers, developing dedicated teams to look into those areas in order to provide better customer service. The goal was to become a bank that provided every type of financial service imaginable, not to mention doing it better than anyone else. By 1996, they were offering a number of specialties, which will be discussed later on.
5. The bank expanded in 1997
The bank had always been a mainstay for the country of Venezuela but they had bigger goals on their mind as well. They wanted to expand and become a major banking institution for all of Latin America. In 1997, the bank decided to make its move and it slowly started expanding into more and more areas. They already had their foundation in place, as evidenced from the information in the paragraph above. By the late 1990s, they knew that it was time to start physically expanding into more areas, providing services to places where they had not previously been available.
6. They also provide insurance
As part of their foundation of providing virtually all types of financial services to their customers, the bank also provides insurance. As opposed to forcing customers to shop around for different financial services in many different locations, the goal is to give them an opportunity to have all of their financial needs met, including getting the right insurance, in a single area. As such, they’ve been providing various types of insurance for more than 20 years now.
7. Like most banks, they provide their customers with mobile banking
This bank is definitely not one that’s stuck in times gone by. As a matter of fact, they are basically leading the charge when it comes to developing new and innovative ways to help their customers get what they want quickly and easily. Because of their dedication to making banking more convenient, they have long provided their consumers with mobile banking. For anyone that has an account with the bank, everything is literally right at their fingertips and can be handled with just a few clicks on their laptop, tablet or smartphone.
8. They pride themselves on making quick transactions for consumers
They typically let their consumers know about any changes in their policies or updates to their accounts in a matter of seconds. One of the things that really sets this bank apart from many of the other systems in the region is that their transactions can be completed quickly, requiring little effort and almost no time. For anyone that’s looking to make a deposit or a transfer, they see results as soon as they click the button. That’s a major reason why the bank has become so influential over the years.
9. The company has more than 5,000 employees
They are known as one of the largest employers in the country of Venezuela. With more than 5,700 employees, the bank provides important jobs to a large number of the population. As they expand to offer more services and provide those services to a larger geographic region, they continue to hire more people in order to support those efforts.
10. They have become a true global company
When the bank first started out, they were largely providing services within that particular region, almost exclusively to the people in and around Caracas. Today, the world has changed a great deal. Everything is about the global market and this bank definitely has a presence in that market. As a matter of fact, you might even go as far as saying that they’re leading the charge when it comes to being a global company. They never have been one to sit around and follow someone else’s lead, so as usual, they’re showing virtually everyone else how to expand across the globe in an economy where the ability to do that is crucial to survival.
11. Customers can also get credit cards through the bank
Most major banks offer credit cards to their consumers. This bank is no different. Customers that have an account with them can often qualify for a credit card that gives them even more spending power. Even those who don’t have quite as much money as some can still take advantage of the credit cards offered by the bank, largely because the institution offers different programs to fit the financial situations of many different people.
12. They provide loans
Of course, they also provide loans to their customers. This comes in handy for anyone that needs a relatively large sum of money in a hurry, such as when building a house, starting a business, or dealing with some type of unexpected expense. They also have a number of different loans to help people, whether those individuals make a moderate amount of money or a great deal. The bank often prides itself on giving loans to consumers with fair terms that are relatively easy to pay back, allowing him to get the spending power they need when they need it without putting them in a dire financial situation for months or even years afterward.
13. The bank even offers additional financial services for investors
They have a separate department that deals with investing, helping consumers find effective ways to handle questions about retirement or saving for a major expense. Experts at the bank routinely help their consumers figure out how to invest on a routine basis without jeopardizing the majority of their income, as well as helping them develop their own knowledge base when it comes to investing.
14. They have a dedicated team of individuals waiting to help
One of the things that really sets this bank apart from so many others is that consumers are able to get real human beings to help them answer their questions or work out any issues they might have. So many of the larger banks have gone to automated systems and people often feel as if they’re caught in some type of Catch-22 where it’s almost impossible to get ahold of someone that can give them effective answers. This particular institution has always worked to avoid such issues and it’s done very well at being there for its customers when it really counts.
15. The bank incorporates a special security division
In a world where one of the few certainties is that people will try to take advantage of others, sometimes in the most heinous of ways, the bank also incorporates its own special security division that’s designed to deal not only with fraud, but with matters of financial terrorism. You might say that the bank is on the front lines when it comes to keeping people’s money safe. Most would agree that they’re just as innovative in this area as they are in virtually every other aspect of business that they’re involved with.
16. They also provide security advice to consumers
The bank also reaches out to its customers, providing real-world advice that helps them keep their finances safe against would be hackers or virtually anyone else that’s trying to get their hands on someone else’s hard-earned cash. This is all designed to keep their customers informed and give them the power of knowledge when it comes to taking the lead role in protecting their own finances.
17. They are well known for providing instant lines of credit
As a premier center for mobile banking, the bank has developed a reputation for providing instant lines of credit to its customers, provided they are able to meet certain benchmarks. This is one of the reasons that the bank has remained so popular with its customers and it definitely helps them bring in new customers on a continual basis.
18. They are commonly referred to as a digital bank
This bank is so advanced when it comes to the way they do business that they’re frequently referred to as a digital bank. This is banking for the modern age in its truest form. Basically, their consumers can do everything they need to do, from everyday banking to taking out a loan, without ever setting foot inside an actual building. Instead, everything is handled electronically. All that’s required is for the consumer to go to their laptop or smartphone and initiate the process in order to do whatever type of banking may need to do that day. It provides the ultimate level of convenience while still keeping their accounts secure and providing top-notch customer service.
19. They were recently voted one of the top banks in Venezuela
Thanks to all of their efforts in maintaining a high quality of customer service, not to mention the innovative ways that they do business, they were voted as one of the top banks in the country just a couple of years ago. That’s a high honor and they have since worked to maintain that honor each and every year. The bank has always been interested in putting its customers first and that’s largely why they have become so popular. The fact that they know what customers want and then deliver on those needs each and every time only serves to make them increasingly popular with people around the globe.
20. They help people make their pensions work for them
They would not be a complete banking institution if they didn’t help people better understand how to take their pension and turn it into enough money to truly enjoy retirement. In a world where people never seem to have enough money, especially later in life, this is quickly becoming one of the most important services that any bank can provide. They work with individuals and help them understand how their pensions work and what they can do for them, largely by helping them better understand how to invest a certain amount of that money or giving them advice for long-term financial success, all of which can be accomplished with the click of a mouse.