SANTO DOMINGO--(BUSINESS WIRE)--Specialized in the development of technological innovations aimed at providing solutions to the financial, telephone and insurance industry, GCS, the most relevant FinTech in the Dominican Republic, celebrated its 10 years of operations in the country.
A cocktail event with the presence of prominent personalities in the national sphere, served as the setting for the company's main executives to share with clients, associates and the media the milestones achieved in this first decade, as well as the plans and goals on which work will be continued in the coming months.
The company ratified its commitment to innovation. It offers more than 10 technological solutions, most notably tPago, the first application in the Dominican Republic to provide contactless payments and PayPal top-ups. As of December 2019 the product had surpassed the 1 million Monthly Active Users. tPago has also been deployed and is currently serving users in Guatemala.
GCS, whose trajectory has been key to the promotion of Fintech companies in the Dominican Republic - consolidating its position in 2018 as one of the founders and main promoters of AdoFintech [Dominican Fintech Association, known in Spanish as Asociación Dominicana de Fintech] - also offers and develops services for tier-1 third-parties such as prepaid mobile wallets Altice-Peso and Claro’s e-fectivo-Móvil, the company also manages a non-banking correspondent network of over 1,700 branches, the sale of Microinsurance through tPago, and QR code-based person-to-person transfers, among others.
Brian Paniagua, Chief Executive Officer, expressed: “the first decade of the 21st century finds us as a company looking towards the future with greater energy and potential than ever. New territories, new segments, new products and services, with the aim of continuing to accelerate time-to-market for financial institutions and other service categories.”
Mr Paniagua spoke about the way the company has managed to serve, directly or indirectly, over 5 million Dominicans through more than 400 million transactions through GCS’ products & services. These milestones are concrete exponential steps in their corporate vision of working towards financial inclusion and improving people’s quality of life in the country and elsewhere in the region.
The Chief Executive Officer noted that in order to achieve this, the company created a unique open-loop ecosystem encompassing all 14 main financial institutions nationwide, and more than 80 billing and service companies.