Fintech in Panama 2020
This article is a summary of reporting by The Business Year. Originally published March 4, 2020.
Panamanian financial institutions have turned to fintech solutions to digitize banking services, automate transactions, and expand financial access across Latin America. Working with local institutions like the City of Knowledge, the Panamanian Chamber of Technology, and the United Nations Development Programme, the country has spurred pilot labs focused on blockchain, crowdfunding, and alternative finance mechanisms. Additionally, government ministries have moved to develop modern licensing regimes for digital payment operators and specialized financial entities to enhance Panama City's role as a regional financial hub.
AI Summary
Banks and technology firms in Panama embrace digital solutions to modernize banking services and boost financial inclusion.
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