The applications are available at Apple store for free and provide the same facilities as a web application or "web app" but offers a more sophisticated experience, said the firm.

Using the latest application, consumers can manage their accounts and balances round the clock and check the recent activities in their accounts such as transactions made in the last 18 months, check e-bills, transfer funds between accounts, and schedule payments.

Banco Popular’s Technology Management Division senior vice president Camille Burckhart said that the company’s team is constantly looking to develop technology platforms that not only help their customers, but provide more services in less time.

"This application is fully native and was made by a group of Puerto Ricans who designed it based on the tastes and needs of actual customers," Burckhart said.

"We have been working on the design and programming for the app for over a year, and completing this phase of our work, which we know will have a positive impact on our customers, gives us great satisfaction. We hope our customers enjoy it as much as we enjoyed making it."

The new application is only compatible with the iPhone and iPod touch 4.0 operating systems and beyond and the application will be made available from 26 April 2012.