Banesco Panamá plans digital revamp with Backbase
Banesco Panamá has selected Backbase and its Engagement Banking Platform for a revamp of its digital banking channels.
A private bank owned by a Spanish holding company, Banesco Panamá provides online banking, loans, credit, deposits, and savings accounts.
The bank operates 23 offices, including a headquarters in Panama City, and 24 ATMs.
Backbase says its platform gives the bank access to “cutting edge technology and continuous innovation.”
The new system runs on a single platform, using unified architecture. It will provide Banesco Panamá with “ready to go apps” to enable the deployment of “customer centric banking”.
Rafael Bello, the bank’s vice president of innovation, says he is confident Backbase will provide “speed, agility, and flexibility”.
He says the lender aims to “integrate new products and solutions” to enhance customer experience on its digital platforms.”
According to Statista data, mobile phone penetration in Panama has risen from 54% in 2017 to 65% in 2020.
“As customers in LATAM get increasingly accustomed to using the internet and their smartphones, banks are expected to provide financial services seamlessly on digital platforms,” says Backbase CEO Jouk Pleiter.
“With a digital-first approach, Banesco Panamá will be able to react swiftly to changing customer demands through innovation.”
This is Backbase’s second selection announcement in February, after Californian credit union Tech CU picked the firm last week.