Spotlight On: Mónica Vázquez, EVP General Manager, ABANCA USA
May 2025 — In an interview with Invest:, Mónica Vázquez, General Manager and Executive Vice President of ABANCA USA, discussed the bank’s recent milestones, including its U.S. expansion, innovative use of artificial intelligence, sustainability initiatives, and contributions to Miami’s growth through tailored services, strategic partnerships, and public-private collaboration.
What were some key milestones for ABANCA over the past year?
ABANCA began U.S. operations in January 2019, establishing its headquarters in Brickell, Miami. From this location, we serve the United States and Latin America, operating as an international bank with the ability to transact without geographic limitations in any currency. Our clients include both domestic and international customers, with a focus on tailored services in corporate and personal banking, including commercial real estate, project finance, trade finance, corporate loans (C&I) and wealth management for families and businesses.
Our customer-centric values prioritize the satisfaction of our clients’ needs, and the active listening we practice allows us to tailor our services to offer the best experience and achieve a high degree of loyalty. We firmly believe that our best marketing is our own clients, and we strive every day to ensure that they receive quality service and recommend us to others around them.
Having a committed team is key and we have the best professionals. We know that this is our best asset and that is why we encourage recognition and collaboration – from the open space of our offices, no offices with no communication barriers to a flat structure where everyone’s ideas are heard and valued. Every employee knows his or her contribution to the results and that is the key to our success. An example of this is that this year we have once again obtained the Great Place to Work distinction based on team feedback.
Miami’s positive economic momentum, business-friendly regulations and notable domestic and international migration have attracted clients looking to make Miami their home. As a bank, we understand our role as an agent of change in society and with this approach, we focus on supporting initiatives that drive the community forward, actively collaborating with educational institutions, local organizations and business associations that enhance the entrepreneurial ecosystem and align the interests of all. These principles guide our growth.
In short, Miami’s current dynamism as a strategic enclave on the world map – full of opportunities – has allowed us to create alliances and ties with clients and partners, driving significant growth since we landed in this territory.
How is ABANCA leveraging AI and other innovations?
Artificial intelligence is one of the most revolutionary developments since the origin of the Internet. It is transforming the banking industry and is going to redefine the way we interact with our customers and our value offering. We’ve integrated AI into areas like big-data, enabling us to analyze vast data sets to identify potential risks, improve credit scoring, and enhance automated control systems. Our fraud detection systems, for instance, have improved significantly thanks to AI, which has also contributed to reducing expected loss levels.
From a customer experience perspective, we’ve implemented AI-driven chatbots and virtual assistants that operate 24/7, significantly enhancing client interactions. Just in 2024, we’ve launched over 25 AI initiatives globally, and more than 60% of our 8,000 employees now use AI applications in their daily work. Currently, 32% of the bank’s processes incorporate AI, which has already boosted productivity by 35%, even with the year still underway.
This investment in AI and in cutting-edge technology— approximately $1 billion — has allowed us to develop innovative products and improve our controls and tools to safeguard data confidentiality and thus protect our customers.
How is your organization advancing its cybersecurity efforts?
Cybersecurity is another major area of innovation for us. We’re making substantial investments in high-tech platforms and systems to ensure data protection and confidentiality. This focus is not just about reacting to threats but proactively building a robust infrastructure that protects our clients and supports the advanced digital services we offer.
These efforts in AI and cybersecurity are setting the stage for a transformation in banking and financial systems. What we see today will look vastly different in the years to come, opening up tremendous opportunities for growth and innovation.
What factors have driven Miami’s growth over the past decade, and how has ABANCA contributed to this success?
Economic diversification has expanded the city’s focus beyond tourism and real estate to include technology, finance, and healthcare, attracting businesses and talent. A steady population influx, driven by Miami’s climate, lifestyle, and job opportunities, has further fueled growth. Real estate development has transformed the city, boosting the economy and creating jobs. Miami’s vibrant cultural scene, including its art, music, and culinary offerings, has enhanced its appeal as a destination. Infrastructure improvements, such as public transit and airport upgrades, and Florida’s business-friendly environment with low taxes and pro-business regulations, have further attracted companies and entrepreneurs.
Since establishing its U.S. presence in 2019, ABANCA has actively supported Miami’s success. Through tailored banking services — corporate and personal banking, commercial real estate financing, and wealth management — we’ve partnered on over 50 development projects across hospitality, multifamily housing, retail, and office spaces, strengthening the local economy. By engaging in cultural and business events and forming strategic partnerships with local organizations, ABANCA has deepened its community ties, fostering growth and innovation in the region.
How can public-private collaboration address Miami’s challenges and foster sustainable growth?
ABANCA has identified several areas where partnerships can create meaningful impact. By collaborating with local universities, business schools and educational centers, we can establish training programs to bridge skills gaps in finance, cybersecurity and technology. Additionally, strengthening ties with business associations, public institutions, and regulatory bodies enables alignment on key initiatives for city progress.
Another major challenge for Miami in the coming years is the improvement of infrastructure and public transportation networks to better connect and communicate every part of the city and surrounding areas. The territorial expansion and the increase in the number of residents and companies in recent years, forces us to rethink the new needs of the city and seek formulas on how to address them. The dependence on the car and the concentration of offices in certain areas as main work centers, coupled with the unstoppable pace of new constructions, causes each citizen to invest almost 2.5 hours a day on average in the car with the impact this has both environmentally and, in the conciliation, personal-professional life.
The partnership of local governments with banks and businesses will be the key to the sustainable development and growth of Miami where initiatives that promote climate resilience – clean energy, efficient buildings, electric transportation, and more green spaces – will take center stage.
Another key objective is housing affordability, an issue that has become a headache for many households that have seen their purchasing power diminish considerably after a prolonged period of inflation and high interest rates.
Through various efforts along these lines, ABANCA intends to play a key role in addressing the city’s challenges and being part of its future development.
What are the biggest opportunities and challenges facing Miami in the next decade?
Miami is at a crossroads, with significant opportunities and challenges shaping its future. The city’s expanding tech sector positions it as a hub for innovation, attracting startups and investors. Miami’s strategic location as a gateway to Latin America and the Caribbean enhances its appeal for global trade and investment. The ongoing real estate demand offers opportunities for sustainable urban development, while the growing emphasis on eco-friendly practices could make Miami a leader in environmental responsibility. Additionally, as tourism recovers, Miami can diversify its offerings, emphasizing cultural, culinary, and eco-tourism experiences.
However, challenges persist. Climate change and rising sea levels require infrastructure investments and resilience planning. Housing affordability is a pressing issue, with rapid growth driving up costs and threatening diversity in housing options. Economic inequality and disparities in wealth need targeted initiatives for inclusive growth. Transportation and congestion challenges must be addressed, while talent retention in competitive sectors like tech and finance remains critical.
ABANCA is contributing to Miami’s resilience and growth through various strategies. We finance sustainable development projects, including energy-efficient buildings and renewable energy infrastructure, and provide community development loans for affordable housing. Our commitment to local businesses includes corporate lending and personalized services. We innovate in digital banking and tools, ensuring financial services are accessible and cutting-edge. Workforce development is also key, with partnerships offering training programs and initiatives that promote networking. Through collaboration with stakeholders and local institutions, we align on growth initiatives and tackle challenges collectively. By leveraging our resources, expertise, and community focus, ABANCA is helping shape a thriving, resilient Miami.
For more information, visit:
