The Superintendency of Banks (SB) has ordered the expansion of the guidelines on digital onboarding to allow legal entities to be linked remotely to the financial system, facilitating the digital contracting of banking products and services.
The measure was established through Circular SB: CSB-REG-2026000013, which extends to commercial companies the digital onboarding facilities previously available to individuals, as part of the modernization and innovation efforts promoted by the supervisory body.
The regulatory update incorporates specific procedures for the identification, validation, and due diligence of companies, including the verification of corporate documents, commercial registries, information on ultimate beneficial owners, and legal representation powers.
Furthermore, the provision enables financial intermediation entities to use digital services provided by chambers of commerce to obtain corporate information, contributing to streamlining validation processes and strengthening security in remote contracting.
The Superintendency of Banks highlighted that this measure will reduce the operational and geographical barriers that companies traditionally face in accessing financial services, especially benefiting micro, small, and medium-sized enterprises (MSMEs) by making more agile, efficient, and accessible channels available to them.
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The circular maintains the controls established in the current regulation regarding customer identification and verification, prevention of money laundering, financing of terrorism, information security, and financial user protection.
This measure is aligned with the government’s Meta RD 2036 strategy, which seeks to boost productivity, competitiveness, and innovation in the Dominican economy. By making it easier for companies to access financial products and services remotely, operational barriers are reduced, onboarding processes are streamlined, and conditions for the growth of MSMEs and business activity are strengthened.
