Galileo Financial Technologies, a subsidiary of SoFi Technologies, has formed a partnership with Mercantil Banco to initiate advancements in digital banking.
The collaboration will leverage Galileo’s Cyberbank Digital platform to enhance Mercantil Banco’s product offerings and customer interactions.
Through the partnership, Mercantil Banco aims to transform its customer engagement by providing a secure and adaptable digital banking experience.
The Cyberbank Digital platform will enable the bank to deliver personalised, mobile-ready services, improving customer satisfaction and operational efficiency. Its flexible design allows the bank to adapt quickly to market changes without requiring extensive system modifications.
Galileo Financial Technologies CEO Derek White said: “We are incredibly excited to announce this partnership with Mercantil Banco.
“Our mission is to transform digital banking and revolutionise customer experience. With Cyberbank Digital, Mercantil Banco will be able to offer cutting-edge services that meet the needs of its customers in an ever-evolving digital environment.”
Galileo Latin America and the Caribbean global banking sales head Lily Mendia said: “This agreement not only strengthens our presence in Latin America, but also solidifies our position in Panama, where Mercantil Banco becomes our fourth client.
“We are committed to providing exceptional support and fostering a collaborative environment that drives innovation and efficiency at Mercantil Banco.”
The strategic alliance marks the beginning of a comprehensive initiative to develop Mercantil Banco’s consumer and corporate services. The partnership is founded on a mutual dedication to innovation, personalisation, and improved customer experiences.
Mercantil Banco technology and digital transformation vice president Elsy Herrera said: “We chose Galileo for their proven track record, robust platform and the flexibility that Cyberbank Digital offers.
“The ability to leverage the product, while also having the extensibility to continuously innovate, was a decisive factor. We are confident that this platform will significantly improve our customers’ experience, allow us to quickly adapt to market needs and offer a superior digital banking experience.”
The long-term collaboration promises continuous support and innovation, allowing Mercantil Banco to remain competitive in a rapidly evolving market. By aligning with Galileo, the bank positions itself to offer superior services and achieve sustainable growth.
Galileo Financial Technologies Southern Cone sales director Leo Andres said: “This agreement is a testament to our commitment to innovation and excellence in digital banking. We are proud to work with Mercantil Banco to transform its digital presence.”
