DBL to incentivise Visa card use in push for full digitisation

Demerara Bank Limited (DBL) has announced new incentives to encourage greater use of Visa cards as part of its broader strategy to transition Guyana from a cash-heavy economy into a fully digital one.
Senior Manager of Visa and Finance, Jerrett Morgan, explained that while cash remains dominant in local transactions, the bank is accelerating efforts to promote electronic payments. Among the initiatives is the Priority Pass programme, tied to the bank’s signature Visa card, which provides cardholders with access to hundreds of airport lounges worldwide.
Morgan noted that while plastic cards are still widely used, the future of payments lies in digital wallets and tokenisation, and Demerara Bank is determined to stay ahead of global trends.
In addition to payment innovations, the bank has made significant advancements in its customer relationship management (CRM) systems, slashing loan processing times from weeks to hours.
The bank is also preparing to roll out its first-ever mobile application and relaunch its online banking platform. These upgrades will give customers greater control over their financial transactions, including advanced security features like 3D Secure for online purchases.
“In keeping with these advances, our card products… we have been trying to improve on them and this existing technology to bring you the best value possible. As you know, Guyana is still a heavily cash-based economy, but as we push forward to move this economy to a cashless one, then our bank is incentivising electronic usage.”
“So, soon, the bank will be rolling out our new and improved mobile application, and it is the first mobile app that we have, and we will also be relaunching our debunking application, and we are super, super excited about that. Every advancement that we are trying to push will be through those applications,” Morgan said.
Another major breakthrough will see Demerara Bank becoming one of the few institutions in South America with end-to-end processing of foreign exchange transactions, in partnership with BNY. This innovation, Morgan explained, will reduce manual intervention and operational burdens for both the bank and its customers.
“At the heart of this, we want to put more power in the hands of the consumer, allowing their banking experience to be versatile and flexible and allowing them to bank as they need. Everybody banks differently, so we cannot do the same thing for everybody, but at the end of the day, we want to give you, the consumer, the power in your hands. As I mentioned before, we’re not there yet, and I’m sure that when this hits the public areas, there might be some people who will be faster at pointing out the deficiencies, but rest assured that Marathon is working hard to reduce those and to improve on every single one of those areas,” the senior manager said.
According to Morgan, the bank remains proud of its role as Guyana’s first indigenous bank, competing successfully with larger international institutions and emerging as one of the fastest-growing financial institutions in the country.
“As we look around in our economy, there are so many places to take advantage of, especially in providing critical services towards oil and gas and its related sectors, so for the entrepreneurs and visionaries out there, get up, put up, and let the Demerara Bank help you to launch into this innovative sphere. Over the past decade, DBL has been one of the fastest-growing banks in Guyana from a financial perspective, and we have come up without any international or regional support, being the first indigenous bank in Guyana, and today, I’m happy to report that we are competing on all fronts against the largest and oldest banks in Guyana,” he added.