The contract comprises installing a Core Banking system at three state banks: “Banco de Desarrollo Hipotecario”, “Banco Nacional de Panamá”, and “Banco Hipotecario Nacional”.

Cobiscorp Panama was the only other company to participate in the process, but was disqualified for failing to comply with some of the compulsory requirements.

“An audit process will be put in place after the contract is awarded, and will be conducted by two international audit firms. The idea is to have an independent assessment of the way in which the supplier is complying with the contract”, reported Pa-digital.com.pa.

Source: pa-digital.com.pa

More on this topic

Panama Pushes Back Banking Software Bidding

April 2010

“Banco Nacional” (BNP) postponed until May 7 the bidding process for supplying it with an integral banking management system.

The bank was expected to receive the proposals today, but decided to push the date back because the bidding rules were modified.

BNP explained that the new dates are intended to give suppliers more time to collect the required information and bid for the contract.

Panama: Baking Software Bidding Stirs Controversy

April 2010

Software companies argue that some of the requisites for participating in the process are excessive.

They specially disagree with the requirement of including references from local banks certifying how good their proposed software solution works.

From Prensa.com: “Ernesto Rosas, from Arango Software, assured that only two companies can participate with the current bidding rules”.

Panama Invites Bids For Banking IT Platform

April 2010

Three banks, Nacional, “Desarrollo Agropecuario” and “Hipotecario” invited bids for $21 million in IT infrastructure.

21 companies participated in the first informational meeting. They must submit their Bids before April 29.

“Both domestic and foreign suppliers may bid. They are required to have experience in installing, applying and operating this kind of technology”, reported Prensa.com.

Panama: $21.2 Million in Banking Software

March 2010

Bids were invited to provide a Core Banking system for various state-owned banks.

The contract comprises licenses, installation, adaptation, migration and implementation of a banking management system, integration with other systems and reports.

It will be used by “Banco Nacional de Panama”, “Banco de Desarrollo Agropecuario” and “Banco Hipotecario Nacional”.