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Banco de Bogotá Launches Innovative Branch Concept Focused on Revolutionizing Consumer Experience
[September 10, 2019]

Banco de Bogotá Launches Innovative Branch Concept Focused on Revolutionizing Consumer Experience

Banco de Bogotá:

This press release features multimedia. View the full release here:

Julio Rojas Sarmiento, CFO Banco de Bogotá (Photo: Business Wire)

Julio Rojas Sarmiento, CFO Banco de Bogotá (Photo: Business Wire)

  • Banco de Bogotá is proud to officially inaugurate its new branch, located in Bogotá at the intersection of Calle 81 and Carrera 11, which is emblematic of this new concept.
  • For the first time in the Colombian banking industry, Banco de Bogotá is debuting a "store within a store" that combines the power of banking and technology, through #BdBTech. In partnership with, and powered by, Grupo Éxito, we've created a store located in our new branch where all the latest technology, including cell phones, laptops, TVs and video games, are displayed and available for sale. On these items, Banco de Bogotá's customers can access special discounts, up to 70%, as well as attractive financing conditions, with highly competitive installments and rates. In addition to the inventory offered in-situ, we've included a digital kiosk, where over 1 million items commercialized by El Éxito can be purchased. "Our mission with this project is to help more Colombians have access to the technological tools that every day become more important for personal and professional growth," explains Julio Rojas Sarmiento, Banco de Bogotá's Chief Financial Officer -CFO-.
  • After a successful project incorporating nearly 400,000 coffee farmers into the formal banking system, through savings accounts linked to their ID cards, today we're proud to announce the deepening of our partnership with the Federación Nacional de Cafeteros by opening this new brach with the presence of a Juan Valdez. Offering varied options of coffee and baked goods, with discounts of up to 15% for Banco de Bogotá's customers, we believe this will help make the in-branch experience more enjoyable. Complementing these everyday comforts will be unique experiences, such as "coffee tasting Fridays," with artisanal coffees and barista shows.
  • Along with these unique partnerships, the branch is equipped with facial recognition technology, self-service digital zones to acquire banking products and bring agility to everyday transactions, comfortable co-working spaces with free access to wi-fi, a relaxation area where customers can play their favorite videogames, an ample outdoor terrace with seating, and a space for children where they can play and learn about personal finances. "We firmly believe that in order to be leaders in the digital transformation of the banking sector in Colombia, we must have an omnichannel value proposition that is differentiated and memorable. We're excited about the potential of this ambitious project, as it elevates the offering of our branch network and creates a more unified experience between our digital platforms and our physical footprint," comments Julio Rojas Sarmiento, Banco de Bogotá's Chief Financial Officer -CFO-.
  • Seeking to have a comprehensive offer for all of our clients, we've integrated an area with expert advisors focused on the needs of Small and Medium Enterprises, as well as a space for personalized attention for the Bank's Premium customers.
  • This new branch concept has also been designed to provide the best collaborative environment for our customer service and sales representatives. As a services business, we firmly believe our team is our most important asset.
  • The Bank is targeting an investment of over $30 Million USD with the roll-out of 75 branches under this new concept by the end of 2020. "Each branch will have its own distinct layout and value proposition. As with any innovation, multiple options will be tested and iterated in search of one main objective: providing the best possible customer experience," added Julio Rojas Sarmiento, Banco de Bogotá's Chief Financial Officer -CFO-.
  • With this launch, Banco de Bogotá consolidates its leadership role in Colombia's digital transformation, with a clear view towards offering a unique, omnichannel experience. This complements the global award received from the magazine The Banker, for "Digital Transformation Technology Project of the Year," which recognized Banco de Bogotá's significant innovation around its online channels.

About Banco de Bogotá

With a Net Income of $2.9 trillion pesos in 2018, Banco de Bogotá, a subsidiary of Grupo Aval (NYSE: AVAL), ranked first in Net Income amongst the Colombian banking system, with an almost 30% market share. Founded in 1870, Banco de Bogotá is a universal bank with a recognized franchise in both Colombia and Central America, where we have 48% of our operation through BAC Credomatic. We have $163.3 trillion in Assets, 45,536 employees and more than 6 million active banking clients.

Julio Rojas Sarmiento's Biography

Julio currently serves as the Chief Financial Officer for Banco de Bogotá, the second largest financial institution in Colombia. Prior to this role, Julio was the Chief Strategy & Digital Officer for the Bank, responsibilities which he still keeps in his current seat. Before joining Banco de Bogotá, Julio worked in Investment Banking at Goldman Sachs in the Financial Institutions Group and served as an Advisor to the Chairman of Grupo Aval. Julio received an MBA with High Distinction from Harvard Business School, where he was named a George F. Baker Scholar (Top 5%) and a BA, summa cum laude and Phi Beta Kappa, from Princeton University.

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