Banco Continental de Panama (BCP) has signed a two year deal, worth $20 million, with India's Infosys Technologies for the supply and implementation of the vendor's Finacle core banking technology.
Infosys says Finacle will replace BCP's legacy core banking systems in Panama and other Central American countries and enable the bank to consolidate its technology and operations platforms across the region.
The bank will also deploy Finacle CRM - which will be used by relationship managers and call centre agents to streamline service requests and cross-sell products and services to its customers - as well the vendor's Internet banking technology and alert software.
Merwin Fernandes, VP and business head, Finacle, Infosys Technologies, says the BCP win "is a significant breakthrough into the Spanish and Latin American markets".
"Latin America is a key focus region for Finacle and we have made continuous investments in aligning the solution to the needs of the market," says Fernandes.