Mercantil Bank has joined a growing group of institutions in the region that are adopting a modular infrastructure to meet the demands of digital users. The bank's Vice President of Technology and Digital Transformation, Elsy Herrera, mentions that the decision to partner with Galileo is due to the strength of its platform and the ability to innovate without costly restructuring.
Despite advances in mobile channels and online services, challenges still exist regarding security, financial inclusion, and regulatory adaptation. Industry analysts believe that collaborations like this can generate competitive advantages, although they emphasize that effective digital transformation requires not only technology but also the institutional capacity to manage change and train teams.
The Cyberbank platform is presented as a flexible and scalable solution that allows the development of new functionalities without altering existing systems. Lily Mendia, Sales Director for Latin America and the Caribbean, states that this agreement strengthens regional presence and improves the operational efficiency of banking partners.
In the context of digital transformation in the Panamanian banking sector, the goal is to revolutionize the customer experience in digital banking, according to Derek White, CEO of Galileo. Although investment figures and a detailed implementation schedule have not been disclosed, both companies assure that it is a long-term partnership that includes ongoing support and progressive innovation.
For Mercantil Bank, this partnership represents a commitment to sustainable growth and a more modern financial offering. It remains to be seen whether technological transformation will translate into greater inclusion and accessibility for the less banked sectors, which is one of the significant challenges in Panama. The evolution will also allow for more personalized products, tailored to both individual consumers and corporate clients.
The alliance between Mercantil Bank and Galileo has been presented as a milestone in Galileo's expansion in Latin America, particularly in Panama, where they already have three other clients. This strategic step towards modernization of banking services aims to optimize the bank's operations and enhance customer experience while maintaining system flexibility and allowing rapid adaptation to changes in the financial market.
