Project detail - Banco Multiple Ademi S.A.

Who is our customer?

Banco Ademi is a Dominican financial institution founded in 1997, originally emerging from the Asociación para el Desarrollo de Microempresas (ADEMI), a nonprofit focused on microenterprise credit. Over the years, it evolved into Banco Múltiple Ademi, becoming one of the largest savings and credit banks in the country, with a strong emphasis on financial inclusion and support for micro, small, and medium-sized enterprises (MSMEs). Headquartered in Santo Domingo, the bank operates 75 branches and serves over 1,700 employees. Its mission centers on empowering underserved communities through tailored financial products, including microloans, savings accounts, and remittance services. Banco Múltiple Ademi S.A. (Ademi) is a leading microfinance institution in the Dominican Republic and a long-standing client of FMO since 2011. Ademi holds a universal banking license and specializes in serving the base of the pyramid through tailored financial products, digital services, and financial education. FMO has supported Ademi with multiple financing facilities, including a recent USD 25 million loan in local currency, primarily aimed at expanding access to credit for microentrepreneurs, women-led businesses, and rural SMEs. Approximately 85% of the funds are earmarked for these underserved segments, with the remaining 15% supporting SMEs that have grown from microfinance roots.

What is our funding objective?

The funding objective is to support ADEMI in building its data management capacities by conducting a tailored data analytics and governance maturity assessment and developing a comprehensive and actionable roadmap. The scope of work includes evaluating data governance, quality, and integration frameworks, as well as reviewing systems, analytics tools, and portfolio monitoring practices to develop data analytic and dashboard tools for strategic decision-making. The goal is to enhance operational efficiency, ensure regulatory compliance, and improve customer experience through strategic digitalization and data-driven decision-making. In parallel, the program seeks to position ADEMI as a key player in the Dominican Republic’s remittance ecosystem by designing an end-to-end remittance model. This involves validating a productive remittance product, mapping customer journeys, and integrating financial inclusion services such as savings, credit, and insurance. The initiative will provide strategic guidance, product development, and support during the pilot phase, and final recommendations to ensure sustainable impact and scalability. The proposed program, therefore, aims to address two critical bottlenecks that inhibit the scalability of Ademi. On the one hand, the grant will be utilized to commission a digital maturity assessment. It will provide a snapshot of where Ademi is standing in its digital transformation journey and what actions are needed to optimize processes, reduce manual tasks, cut costs, and drive competitiveness gains to better serve its customers. On the other hand, the grant aims to commission a technical assistance project focused on remittance product development.

Why do we fund this investment?

1. Data Governance and Analytics Project. Supporting Banco ADEMI’s data governance initiative is key to unlocking its potential as a driver of financial inclusion in the Dominican Republic. Positioned to evolve into an end-to-end remittance operator, ADEMI requires a robust digital infrastructure and data strategy. A tailored digital transformation roadmap will modernize systems, improve governance, and enhance customer experience—critical for scaling impact and competitiveness. The project will also address internal readiness, streamline operations, and enable data-driven decisions. By investing in digital maturity, ADEMI can better integrate remittance flows into formal financial products, reduce long-term costs, and build institutional resilience. This transformation supports broader development goals and offers a replicable model for inclusive finance through digital innovation. 2. Remittance Model Transformation Project. In 2023, the Dominican Republic received approx. USD $10 billion in remittances—8% of GDP—yet 93.2% remain cash-based. Banco ADEMI, a long-standing FMO partner, aims to develop a comprehensive value proposition to transform remittance flows into deposits, savings, and credit. This project directly contributes to SDGs 8 and 10 (Economic Growth and Reduced Inequalities). Remittances are primarily used by low-income households for consumption, yielding limited long-term returns. The proposed approach will offer interest-bearing accounts, helping ADEMI mobilize deposits and lend for productive purposes.

What is the Environmental and Social categorization rationale?

N/A

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Date	Total FMO financing
11/17/2023	USD 15.00 MLN