Canalbank starts an 18-month project in which they will implement SAP solutions.

The need to adapt to future changes in the local banking sector is the main reason why more and more banks value the need to modernize their way of doing business in Panama. Given this situation, Canalbank signed an alliance with BD Consultores with the aim of taking a step towards the digital evolution of its banking core.

With this alliance Canalbank starts an 18-month project in which they will implement SAP solutions, and which is part of a more complete roadmap up to 2023, with the triple objective of betting on the service, operational efficiency and digital evolution towards the client.

The president of the board of directors of Canalbank, Lisa Méndez Moreno, considered that the implementation of SAP in the modernization of the banking core will imply many positive changes such as the improvement in response times.

For his part, both Nerio Peña and Juan Carlos Chaves, general manager and director of Operations of BD Consultants, respectively, agreed to state the importance of adding a bank in the Panamanian square and accompanying it in this process of evolution, which positions it very well the consulting firm of Costa Rican origin in the Panamanian market.

In a joint launch of the SAP Core Banking project, in which senior executives from both companies participated, the challenges and objectives pursued by Canalbank's digital evolution project for the next five years were captured.


The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.