Banesco USA announced today it was named Business of the Year by the South Florida Business Journal at its 22nd Annual awards event. This popular and prestigious program has recognized many of today’s top regional organizations and companies
“We are thrilled South Florida Business Journal has recognized Banesco USA with this award, signifying recognition of our innovation, financial stability and customer service,” said Banesco USA CEO, Jorge Salas.
The prestigious Business of the Year award, recognizing Banesco’s success in digital innovation methods and strong ties to the local South Florida community, was collected during the Annual reception dinner at Jungle island in Miami.
“We are extremely proud of the collective efforts of our entire team, which is undoubtedly our biggest asset”, said Salas.
In 2018, the bank demonstrated its ability to service clients and achieve commercial success by focusing on the intersection of digital innovation and human touch – one the most consequential and pressing business challenges of our day. The recent partnership with incubator Plug & Play will provide the bank with faster access to emerging technologies, while their face-to-face contact with clients will benefit from the expansion of its Branch Network to Aventura later in this quarter. Its commercial success is evidenced in 2019’s first quarter results, with double-digit growth in assets, loans and deposits.
“You will be hearing more about Banesco USA as we aim to become South Florida’s most innovative local bank.” Said Salas.
The deal enables Banesco USA to leverage the Plug and Play platform to explore partnerships with the aim of further innovating its consumer and commercial offerings as well as its customer experience. “This partnership allows us to establish meaningful engagements with the best technology companies connected to the Plug and Play ecosystem, providing added fuel to our innovation, growth and modernization strategies,” said Banesco USA CEO, Jorge Salas.
“Due to South Florida being the headquarters of Banesco USA and considering its proximity to Latin America, this partnership will also provide a gateway for our startups to enter the LATAM market,” said Saeed Amidi, CEO for Plug and Play. “We are excited for them to join our global fintech ecosystem and look forward to connecting them to our startups.”
By Jake Martin, Bank Innovation
Working with $11.9 million from its shareholders to continue growing and investing in technology this year, Banesco USA entered into an agreement recently with Silicon Valley-based accelerator Plug and Play Fintech. The Coral Gables, Fla.-based bank may be a community bank, but it’s thinking big when it comes to digital transformation. President and CEO Jorge Salas said the bank can do no less, considering the changes in how people consume financial services and what they expect from financial institutions.
“We believe we have to focus our energy on choosing the right partners and making sure that the frame of mind and the culture is one where everyone realizes that this roller-coaster that has been going uphill for 200 years is about to do some twists and turns.” he told Bank Innovation. “We have to be prepared for it and take good care of our clients, focusing basically on good advisory and not so much on the technology.”