Bancamiga: 19 years driving the future of banking in Venezuela

Bancamiga, one of the most dynamic and innovative financial institutions in the Venezuelan banking system, celebrates its 19th anniversary this Thursday. These nearly two decades have been marked by profound processes of change and growth, all guided by the same purpose: to offer the country innovative products and services that meet the needs of Venezuelans.

“Reaching 19 years with 1,221,000 clients is a direct result of a strategy focused on offering services designed to boost the financial growth of children, teenagers, and adults, as well as entrepreneurs, merchants, and business owners, regardless of their location. This strategy achieved $26.963 billion in transaction volume in 2025,” stated José Simón Elarba, Chairman of the Board of Directors of Bancamiga.

Since its inception, Bancamiga has been a tireless advocate for financial inclusion. Its portfolio has set the standard in the market with solutions that are now commonplace for millions, such as Interbank Mobile Payments, foreign currency account management, and the introduction of contactless point-of-sale terminals, according to a statement from the bank.

One of its flagship products, the Bancamiga Mastercard Debit Card, has transformed the consumer experience by allowing payments in both bolivars and foreign currency, while also facilitating access to streaming platforms and international e-commerce purchases. This offering is complemented by Bancamiga Suite, a mobile application that has evolved to offer practical, functional, and, above all, secure operation through tools such as the Virtual Lock and ID Check.

The value of human capital and trust

For José Simón Elarba, the success of these 19 years lies in the synergy between customer trust and the dedication of a team of 1,351 people, 73 % of whom are women, all committed daily to providing solutions that improve the quality of life for society.

Following this strategy, Bancamiga has installed more than 203,000 modern point-of-sale terminals, which, in addition to providing the basic transaction function, allow users to pay and top up phone and TV services, validate lottery tickets, and play the lottery. This has made Bancamiga the second bank in the financial system with the largest presence of terminals in the national market.

These POS terminals, developed in partnership with Soluciones Integrales Tecnológicas (SITCA), are wireless, Global Band compatible, and feature Wi-Fi, a touchscreen, and allow for electronic, secure, and immediate cashback payments to customers.

There are already 51 Bancamiga branches

In a challenging digital environment, security is the cornerstone of Bancamiga’s innovation. After four years of rigorous work, the institution became the first bank in Venezuela to obtain PCI DSS certification version 4.0, the most demanding global standard for payment card data protection.

This certification confirms that Bancamiga’s processes comply with the strictest international security standards, guaranteeing confidentiality and professionalism in the handling of its users’ sensitive data.

As part of its expansion, Bancamiga opened its 51st branch this year in San Felipe, Yaracuy state, adding another physical service point to its network, which also includes nine non-bank correspondents, one affiliated branch (Viva Supercentro Hypermarket), three external branches (Plumrose, Corpoelec Maracaibo, and the José Antonio Páez University in San Diego, Carabobo state), and the Bancamiga Mobile unit, which in almost three years of operation has traveled more than 40,000 kilometers and is a key element in expanding banking services and reaching a wider audience.

In these 19 years, Bancamiga has not only grown as a bank but has also forged a deep bond with Venezuela through its unwavering commitment to sustainable development. Their Corporate Social Responsibility programs have focused on health, education, the environment, and culture, with training as the driving force behind positive and lasting change in our communities. In 2025 alone, Bancamiga supported 4,061 entrepreneurs with training programs that opened doors for them and transformed their dreams into realities.

“But our true engine of growth has been our human talent, a committed team full of passion for Venezuela. That is, without a doubt, the heart behind our achievements, transforming challenges into opportunities,” concluded José Simón Elarba.

With information and reference images provided by Bancamiga Banco Universal

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