Puerto Rico's largest bank talks about technology as digital origination, an ERP move to the cloud and branch modernisation; its public AI record is a generative-AI hackathon (2023), Microsoft Copilot for employees (since late 2023) and AI risk language in its 10-K.
How is Popular Inc (Banco Popular) using AI?
Popular, Inc., the San Juan-based holding company of Banco Popular de Puerto Rico and Popular Bank (New York, New Jersey and Florida), had $78,972.3 million of total assets at 30 June 2026 per its Form 10-Q, and its public AI record is thin. Its dated AI activity is a third internal hackathon on generative AI in August 2023 (six teams, with Microsoft, covering fraud patterns, regulatory-policy training, campaign content, virtual assistants and call analysis) and a September 2025 Microsoft profile saying Popular adopted Microsoft 365 Copilot in late 2023 and had more than 1,000 active users among more than 9,000 employees. The 10-K for 2025 names AI in three places: as a technology competitors may adopt faster, as a factor that increases cyber and vendor risk, and in board oversight, where the risk committee oversees risk management for emerging technologies including AI. None of Popular's last four earnings calls, from October 2025 to July 2026, mention AI; management instead describes a fully digital consumer-credit origination platform, a new commercial cash-management platform, an ERP move to the cloud (live in January 2026) and more than 800 colleagues working on efficiency and transformation projects. Chief executive Javier Ferrer announced his retirement on 23 July 2026; chief financial officer Jorge J. García becomes president and CEO on 1 September 2026.
Thin public record: Popular's last four earnings calls (July 2025 to July 2026) and its June 2026 10-Q contain no AI remarks, its 10-K mentions AI only in competition, cybersecurity and board-oversight language, and the dated AI record is a 2023 generative-AI hackathon and a 2025 Microsoft Copilot profile, with no disclosed platform, AI spend or named AI leader.
Lead bank
Banco Popular de Puerto Rico
Assets (group, Jun 30, 2026)
$79 billion
Charter
Puerto Rico financial holding company (Federal Reserve). Banco Popular de Puerto Rico is a Puerto Rico commercial bank supervised by the Federal Reserve Board and the Puerto Rico Commissioner of Financial Institutions; Popular Bank is New York-chartered (Federal Reserve and NYDFS). Both are FDIC-insured.
Headquarters
San Juan, PR
AI leadership
Javier D. Ferrer · Jorge J. García · Camille Burckhart · Federico Montañana · Luis Montalvo
- Thin disclosure: no earnings call from October 2025 to July 2026 and no 2026 10-Q passage mentions AI; the Puerto Rico group has not published an AI strategy, platform name, AI budget or AI leader.
- What is dated: a third internal hackathon on generative AI (21 August 2023, with Microsoft) and Microsoft 365 Copilot in use since late 2023, with more than 1,000 active users among more than 9,000 employees (September 2025).
- AI appears in the 10-K as competitive and cyber risk: the bank may be unable to adopt AI, automation and algorithmic tools 'at the pace of such competitors', and expects AI to increase deepfake and vendor risk; the board's risk committee oversees emerging-technology risk including AI.
- Technology spend is about transformation: a cloud ERP live in January 2026, fully digital origination of personal loans and credit cards in Puerto Rico and the Virgin Islands, and a modernised commercial cash-management platform; 2026 expense growth is guided at 2% to 3%.
- Automation predates generative AI: an IBM case study describes robotic process automation that cut one process from about 10 minutes to about 10 seconds; the source does not describe it as AI.
- Leadership transition: CEO Javier Ferrer retires on 31 August 2026 and CFO Jorge J. García succeeds him on 1 September 2026; the bank does not name a chief AI or data officer.
- Scale: $78,972.3 million of total assets at 30 June 2026, of which $61,313.9 million sits in Puerto Rico and $16,255.6 million in the United States segment.
What has Popular done on AI, and when?
- Aug 7, 2026
Q2 2026 Form 10-Q: total assets $78,972.3 million[1]
Balance sheet at 30 June 2026; $61,313.9 million of assets in Puerto Rico and $16,255.6 million in the United States segment.
- Jul 23, 2026
CEO Ferrer to retire; CFO García named successor[3]
Ferrer retires effective 31 August 2026; Jorge J. García becomes President and CEO on 1 September 2026.
- Jul 23, 2026
Q2 2026 call: channels and commercial platforms[4]
The CEO describes branch modernisation, a modernised commercial cash-management platform and new corporate credit card solutions; no AI remarks.
- Apr 23, 2026
Q1 2026 call: technology investment continues[5]
The CFO says the bank is not pulling back on technology and transformation efforts; the ERP went live in January and the expense target embeds about $50 million of efficiency efforts.
- Mar 2, 2026
2025 Form 10-K names AI in risk and governance language[2]
AI is cited as a competitive-adoption risk, as a driver of cyber and vendor risk, and in the risk committee's oversight of emerging technologies.
- Jan 27, 2026
Q4 2025 call: digital origination and an ERP move, with no AI remarks[6]
A consumer credit origination platform gives a fully digital process for personal loans and credit cards in Puerto Rico and the Virgin Islands; more than 800 colleagues work on efficiency projects including the move to a cloud ERP.
- Oct 23, 2025
Q3 2025 call: fully online loan origination, US mortgage exit[7]
The CEO cites a fully online personal and credit card loan origination process in Puerto Rico and the Virgin Islands; the CFO says the bank is exiting US residential mortgage origination and that over 80 projects are under way. No AI remarks.
- Sep 15, 2025
Microsoft profiles Popular's Copilot rollout[9]
Copilot adopted in late 2023; more than 1,000 active users among more than 9,000 employees; company-wide Copilot-thon and prompt-a-thon events train staff and interns.
- Aug 21, 2023
Third internal hackathon, on generative AI[8]
Six teams, with Microsoft as collaborator, presented fraud-pattern identification, regulatory-policy training, campaign content, virtual assistants and call analysis; campaign content won.
Where does Popular use AI today?
| System | What it does | Status | Use case |
|---|---|---|---|
| Microsoft 365 Copilot for employees[9] | Adopted in late 2023; more than 1,000 active users among more than 9,000 employees by September 2025, with company-wide training events. | In production | Third-party & vendor AI |
| Generative-AI hackathon prototypes[8] | 2023 prototypes for fraud patterns, regulatory-policy training, campaign content, virtual assistants and call analysis; none is reported as deployed. | Pilot | Generative & agentic AI |
| Robotic process automation (IBM with Automation Anywhere)[10] | Automates repetitive compliance-related processes in a hybrid cloud setup; a proof of concept cut a process from about 10 minutes to about 10 seconds. The source describes automation, not AI. | In production | Third-party & vendor AI |
| Board oversight of AI and emerging-technology risk[2] | The risk management committee oversees risk management for emerging technologies including AI; a Technology Committee oversees technology strategy and vendor risk. | In production | AI governance (general) |
| Customer education on AI-enabled fraud[12] | Popular Bank's security pages warn customers about deepfake impersonation, robocalls and account takeovers; the page does not describe the bank's own fraud models. | In production | Fraud detection |
| Fully digital consumer credit origination (not described as AI)[6] | A platform for digital origination of personal loans and credit cards in Puerto Rico and the Virgin Islands, launched in the third quarter of 2025. | In production | Credit scoring & underwriting |
Use-case links open the tracker's rules-by-use-case matrix: which documents govern each system type.
What has Popular disclosed in numbers?
| Metric | Value | As of |
|---|---|---|
| Total assets | $78,972.3 million[1] | Jun 30, 2026 |
| Total assets, Puerto Rico segment | $61,313.9 million[1] | Jun 30, 2026 |
| Total assets, United States segment | $16,255.6 million[1] | Jun 30, 2026 |
| Employees using Microsoft 365 Copilot (active) | More than 1,000 of more than 9,000[9] | Sep 15, 2025 |
| Colleagues on efficiency and transformation projects | More than 800[6] | Jan 27, 2026 |
| Efficiency efforts embedded in 2026 expense targets | Around $50 million[5] | Apr 23, 2026 |
| 2026 full-year expense growth guidance | About 2% to 3% (including profit-sharing)[4] | Jul 23, 2026 |
“Copilot has become like my right hand… it’s like having a digital teammate available 24/7, always ready to answer questions without stopping and never getting tired”[9]
Luis Montalvo · Assistant Vice President and digital workplace manager, Popular Inc. · Sep 15, 2025
“We want to know how this technology will affect the banking industry and Popular in particular, in a responsible manner, ensuring that we safeguard the privacy of our customers' information, as well as improper access to our systems”[8]
Federico Montañana · Leads AI and robotics at Popular · Aug 21, 2023
“We are seeing faster cycle times, higher banker productivity, a more seamless customer journey, and loan growth in our small and middle market segments.”[6]
Javier D. Ferrer · President and CEO, Popular, Inc. · Jan 27, 2026
Who runs AI at Popular?
Which regulators govern Popular's AI?
| Authority | Why it matters here | Documents |
|---|---|---|
| Federal Reserve | Popular is a financial holding company supervised by the Federal Reserve Board, which also supervises Banco Popular de Puerto Rico and Popular Bank; its model-risk and third-party guidance applies to any AI Popular adopts. | SR 11-7 SR 23-4 |
| FDIC | Deposits at Banco Popular de Puerto Rico and Popular Bank are FDIC-insured, and BPPR is subject to the FDIC's resolution planning rules for banks with $50 billion to $100 billion of assets. | FDIC FIL-29-2023 |
| NY DFS | Popular Bank is a New York-chartered bank, so NYDFS cybersecurity rules and its guidance on AI-related cyber risk apply to its mainland operations. | 23 NYCRR Part 500 DFS AI Cybersecurity Industry Letter (Oct 2024) |
| CFPB | Digital origination of personal loans and credit cards in consumer markets brings adverse-action and fair-lending rules into scope for any model-driven decisioning. | ECOA / Regulation B adverse action (15 U.S.C. 1691(d); 12 CFR 1002.9) |
What does the public record suggest about Popular's AI strategy?
Analysis by BankingNewsAI from the sources cited on this page. Observations, not advice.
01
A bank that does not talk about AI may still be using it
The 10-K frames AI as a competitive risk and a cyber risk, and employees use Copilot, but investors on the earnings calls heard no AI discussion in four quarters. Disclosure, not activity, is what is thin.
02
The transformation order is ERP, origination, channels
Management's sequencing (cloud ERP, digital origination, cash management, branch modernisation) suggests data and workflow foundations come before any announced AI programme.
03
AI fraud is framed to customers as a threat first
Popular Bank's customer security pages describe deepfakes, robocalls and account takeovers, a sign that its first public AI posture is defensive.
04
A CEO change is a natural moment to set an AI position
With CFO Jorge J. García taking over on 1 September 2026, a first explicit AI or productivity target would be a visible change from the current record.
Is Popular, Inc. using AI?
Publicly, only in limited ways: Microsoft 365 Copilot has been used by employees since late 2023 (more than 1,000 active users among more than 9,000 employees by September 2025), and the bank ran an internal generative-AI hackathon in August 2023. Its 2025 10-K discusses AI as a competitive, cybersecurity and governance topic. No platform, spend figure or AI leader has been disclosed.
Does Popular talk about AI on earnings calls?
No AI remarks appear in the transcripts of the last four calls, from October 2025 to July 2026. Management has instead discussed digital origination, a cloud ERP, cash-management and card platforms, branch modernisation and efficiency programmes.
How large is Popular, Inc.?
Popular, Inc. reported total assets of $78,972.3 million at 30 June 2026, including $61,313.9 million in Puerto Rico and $16,255.6 million in its United States segment. Its banks are Banco Popular de Puerto Rico and Popular Bank, a New York-chartered bank with branches in New York, New Jersey and Florida.
Who will lead Popular after Javier Ferrer retires?
Jorge J. García, currently executive vice president and chief financial officer, becomes President and CEO of Popular, Inc. on 1 September 2026, after Javier D. Ferrer retires on 31 August 2026, according to the company's 8-K of 23 July 2026.
- Popular, Inc. Quarterly Report on Form 10-Q for the quarterly period ended June 30, 2026
- Popular, Inc. Annual Report on Form 10-K for the fiscal year ended December 31, 2025
- Popular, Inc. Form 8-K: Retirement of Javier D. Ferrer; appointment of Jorge J. García as President and Chief Executive Officer
- Popular, Inc. (BPOP) Q2 FY2026 earnings call transcript
- Popular, Inc. (BPOP) Q1 FY2026 earnings call transcript
- Popular, Inc. (BPOPO) Q4 FY2025 earnings call transcript
- Popular, Inc. (BPOPO) Q3 FY2025 earnings call transcript
- Popular hosts its 2023 A.I. Hackathon
- Popular's Luis Montalvo on how a 'digital teammate' is transforming the workplace
- Banco Popular (undated page, retrieved 2026-10-05)
- Innovation
- AI Banking Fraud Prevention - Online Security (undated page, retrieved 2026-10-05)
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