India's i-flex solutions has signed Banco Latinoamericano de Exportaciones (Bladex), a Panama-based bank specialising in foreign trade, to its core banking software and services.
Under the deal i-flex will supply the Latin American export bank with a suite of products including its Flexcube core banking system and Reveleus risk managment software.
I-flex says the technology will also help the Bladex implement a more efficient reporting infrastructure in line with regulatory compliance requirements in both Panama and the US.
The bank has also signed with the vendor for business process consulting services and technology deployment and management services.
Jaime Rivera, CEO, Bladex, says the i-flex platform "reduces the risks often associated with comparable type implementations, and speeds our deployment of new services for our clients".
I-flex says Bladex is its first customer in the Central American region.
R Ravisankar, CEO, international operations and business development, i-flex, says: "Banks in Latin America are moving away from proprietary technologies and increasingly opting for flexible solutions to broaden the scope of their offerings and increase profitability."