Panamanian banking is in a process of digital transformation similar to that of other nations in the region, although significant efforts are already observed by some banking entities, which have successfully implemented various digital functionalities to facilitate the user experience, the challenge of achieving full digital maturity in the sector still persists.

However, despite the progress, Panama still faces challenges in terms of the full integration of digitization in all banking services, and according to Mercedes Martínez, Technology and Transformation Sorting of Deloitte Panama, it is necessary to continue working on digital maturity, so that more banks can offer digital solutions that not only improve the customer experience, but also optimize operational efficiency and transaction security.

Meanwhile, José Araúz, Audit Partner at Deloitte, indicated that the advances are evident, since several banks are already setting the tone in terms of offering their customers digital capabilities that allow banking transactions to be carried out more efficiently.

“Among these functionalities are mobile applications that allow users to open accounts, make transfers and manage their finances with just a few clicks, all from their cell phones,” said Araúz.