Fintech Boost: Mercantil Enhances Digital Banking with Galileo’s Cyberbank

Mercantil Banco Partners with Galileo for Digital Banking Transformation

Miami, FL – In a strategic move to revolutionize its digital banking landscape, Mercantil Banco, S.A. has partnered with Galileo Financial Technologies to implement Galileo’s Cyberbank Digital platform. This alliance aims to accelerate product innovation, enhance customer experience, and solidify Mercantil Banco’s position as a leader in Panama’s increasingly competitive financial sector.

百年银行拥抱数字创新 / Century-Old Bank Embraces Digital Innovation

Mercantil Banco, with a century-long legacy and operations spanning nine countries across the Americas and Europe, is part of the Mercantil Servicios Financieros Internacional (MSFI) holding. The implementation of Cyberbank Digital signals a strong commitment to modernizing its services.

Elsy Herrera, Vicepresidenta de Tecnología y Transformación Digital at Mercantil Banco, emphasized the bank’s commitment to digital excellence, stating, “We are confident that this platform will significantly improve our customers’ experience, allow us to adapt quickly to market needs, and offer a superior digital banking experience.“

Cyberbank Digital: A Secure, Flexible Solution

Cyberbank Digital is a platform known for providing secure, flexible, and personalized digital banking experiences. It allows banks to offer tailored services that enhance customer satisfaction and streamline operations. The platform’s adaptable design enables banks to evolve rapidly without incurring substantial restructuring costs, a crucial advantage in today’s fast-paced market.

Galileo’s Expanding Footprint in Latin America

This partnership marks a significant milestone for Galileo Financial Technologies, owned by SoFi Technologies, Inc. (NASDAQ: SOFI), as Mercantil Banco becomes its fourth client in Panama.

Lily Mendia, Directora Global de Ventas Bancarias para América Latina y el Caribe at Galileo, noted, “This agreement not only strengthens our presence in Latin America but also solidifies our position in Panama.“

Derek White, CEO of Galileo Financial Technologies, added, “With Cyberbank Digital, Mercantil Banco will be able to offer cutting-edge services that meet the needs of its clients in a constantly evolving digital environment.“

Driving Innovation and Efficiency

The collaboration between Mercantil Banco and Galileo is expected to foster an environment of continuous innovation and efficiency. By leveraging Cyberbank Digital, Mercantil Banco aims to offer a superior digital banking experience, adapt quickly to market changes, and provide high-quality services that drive sustainable growth.

Leo Andres, Director de Ventas para el Cono Sur at Galileo Financial Technologies, stated, “This agreement demonstrates our commitment to innovation and excellence in digital banking. We are proud to collaborate with Mercantil Banco to transform its digital presence.“

This strategic partnership underscores the increasing importance of digital transformation in the Panamanian banking sector. As customer expectations evolve, banks are turning to innovative fintech solutions to stay competitive and deliver exceptional service. Mercantil Banco’s adoption of Cyberbank Digital exemplifies this trend, positioning the bank for continued success in the digital age.

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