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Banco Davivienda to launch mobile app

Colombia's Banco Davivienda SA is planning to launch online credit operations, the lender's vice president for innovation, Óscar Rodríguez, told La República.

The bank accounts for 53% of all mobile banking transactions in the country, according to the report.

The group will offer savings accounts through its new mobile application, Domo i, and it also hopes to launch credit processes as well.

Rodríguez noted that, beyond specific products, the bank is investing in processes and further innovations, which may reach 1% of operational income. Funding for research and development at the bank has tripled over the past five years, the executive said in the report.