Popular Bank
What is Popular Bank?
Popular Bank is the U.S. mainland subsidiary of Popular, Inc., a publicly traded, full-service financial services provider founded in 1893. Popular, Inc. operates as Banco Popular de Puerto Rico in Puerto Rico and the Virgin Islands, and as Popular Bank in the continental United States.
The institution serves consumers, small businesses, corporations, and governmental entities across New York, New Jersey, South Florida, Puerto Rico, and the Virgin Islands, offering a full range of retail, business, and insurance banking solutions.
History & Background
Popular, Inc. traces its roots to 1893 in Puerto Rico and has grown into one of the top 50 U.S. banks by assets. It opened its first mainland branch in the Bronx, New York, in 1961 and has since expanded into a diversified financial services group with operations across banking, insurance, and business lending.
- Founded in 1893 in San Juan, Puerto Rico
- Expanded to the U.S. mainland starting 1961
- Operates as Banco Popular de Puerto Rico and Popular Bank under one parent, Popular, Inc.
- Ranks among the largest bank holding companies serving Puerto Rico and the U.S. mainland
Primary Services & Business Lines
- Retail and consumer banking (checking, savings, credit cards, mortgages)
- Business and commercial banking solutions
- Treasury and cash management services
- Insurance products through Popular Insurance LLC
- Digital banking and customer personalization platforms
Markets Served
Popular Bank serves customers primarily in New York, New Jersey, and South Florida on the U.S. mainland, while its parent, Popular, Inc., serves the broader Puerto Rico and Virgin Islands market through Banco Popular de Puerto Rico.
AI & Data Leadership at Popular Bank
At Popular Bank and Popular Insurance LLC, Meenakshi Thanikachalam serves as Chief Data & AI Officer, leading enterprise AI, data, cloud, and platform modernization across the $75B financial institution. Her work has advanced Customer 360, AI-driven personalization, GenAI and Agentic AI adoption, Responsible AI governance, AI assurance, and model-risk controls across the organization.
Transformation Impact
- Risk reduction and improved fraud performance through governed AI systems
- Customer 360 conversion lift across retail and business banking
- 35+ GenAI and Agentic AI use cases deployed in production
- Governance controls established across 63+ production AI/ML models
- Regulatory modernization aligned with U.S. financial services compliance standards
These initiatives reflect Popular Bank’s ongoing commitment to responsible innovation, where AI adoption is scaled alongside strong governance, transparency, and accountability.
Frequently Asked Questions
What is Popular Bank?
Popular Bank is the U.S. mainland subsidiary of Popular, Inc., a full-service financial institution founded in 1893, offering retail, business, and insurance banking services.
Where is Popular Bank headquartered?
Its corporate headquarters is located at 85 Broad Street, New York, NY, while its parent company, Popular, Inc., is headquartered in Hato Rey, San Juan, Puerto Rico.
Who leads AI and data strategy at Popular Bank?
Meenakshi Thanikachalam serves as Chief Data & AI Officer, leading enterprise AI, data, and platform modernization across Popular Bank and Popular Insurance LLC.
What markets does Popular Bank serve?
Popular Bank serves New York, New Jersey, and South Florida on the U.S. mainland, while its parent group serves Puerto Rico and the U.S. Virgin Islands.
Is Popular Bank the same as Banco Popular de Puerto Rico?
Yes. Both operate under the same parent company, Popular, Inc. — branded as Banco Popular de Puerto Rico in Puerto Rico and the Virgin Islands, and as Popular Bank in the continental United States.