Panama Launches Financial Innovation Hub

Panama City – Panama officially launched its Financial Innovation Hub (Finhub) on May 7, 2025. This groundbreaking initiative fosters collaboration between financial regulators and fintech innovators to boost financial inclusion and ensure the stability of Panama’s financial system amidst rapid digital transformation.

Driving Innovation Through Collaboration

The Finhub is a collaborative effort led by the Consejo de Coordinación Financiera (CCF), including key regulatory bodies such as the Superintendencia de Bancos (SBP), the Superintendencia del Mercado de Valores (SMV), and others. The Inter-American Development Bank (BID), through its FintechLAC initiative, provides technical support.

“With this initiative, Panama strengthens responsible innovation and reinforces its commitment to the sustainable, inclusive, and secure development of the financial sector,” said Milton Ayón Wong, Presidente del CCF.

Two-Tiered Operational Structure

The Finhub operates on two levels: a public level for fintech entrepreneurs and a private level for regulatory coordination. This structure allows innovators to engage with regulators, receive guidance, and present recommendations to the CCF to address regulatory barriers.

“The Hub will facilitate interaction between innovators in the fintech ecosystem and financial authorities, allowing them to guide, observe, and support initiatives that are transforming the way financial services are designed and offered,” stated Gloria Lugo, representante del BID en Panamá.

Focus on Financial Inclusion and Sustainable Development

A key focus is promoting female participation in the financial sector and developing financial products for vulnerable groups and minorities. These efforts align with Panama’s broader goals of sustainable and inclusive financial development.

BID’s Regional Fintech Strategy

The Finhub is part of the BID’s strategy to create a robust fintech ecosystem in Central America and the Caribbean. Since 2020, the BID has supported similar hubs in Costa Rica, El Salvador, Honduras, and the Dominican Republic. Panama’s hub will contribute to this regional effort, fostering innovation and financial inclusion.

By creating a structured dialogue between regulators and innovators, the Finhub aims to foster a clear legal environment for emerging business models, ensuring Panama remains at the forefront of financial innovation.

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