More and more companies are turning to predictive analytics to optimize their processes, achieve better business results and increase their market share.
Organizations use internal predictive analytics to forecast trends, understand and predict customer behavior, improve performance and drive strategic decision making.
Between April 2020 and the same month of 2021, corporate credit to the local sector decreased 16% from $26,628 million to $22,386 million.
According to the report "Informe de Actividad Bancaria - Abril 2021", prepared by the Superintendence of Banks of Panama, consumer credit showed a 0.9% increase driven by mortgage credit.
A few months before the expiration of the law that establishes a moratorium on loans granted by banks, cooperatives and public and private financial institutions in Panama, the banking sector expects that these benefits will not be extended.
The law regulating the service of information on the credit history of consumers in the country was published in the Official Gazette.
After the legislative plenary approved in third debate initiative 424, which modifies Law 24 of 2002 related to this system of registration in the Panamanian Association of Credits (APC), in the last days of 2020 the Executive approved the bill.
Between July and October 2020, the number of people in El Salvador exploring mortgage options online increased by 18%, and the number of Costa Rican consumers looking to buy credit cards decreased by 60%.
CentralAmericaData's interactive platform Consumer Insights monitors in real time the changes in consumer habits in all markets in the region and in other Latin American countries, with fundamental information to understand their behavior, new trends and anticipate eventual changes in their purchase patterns.
A bill was presented to the National Assembly to regulate the leasing of real estate, so that the client who rents a property has the option to buy it.
In order to regulate the financial leasing of real estate known as real estate leasing or housing leasing, the Minister of Housing and Land Management (Miviot), Rogelio Paredes, was the official the Executive who presented the bill to the Assembly.
As a result of the changes made by the Assembly in Panama regarding the total payment of the resources placed on deposit in cases where the banks are in the process of liquidation, the Banking Association is asking for the construction of consensual public policies.
The plenary session of the Assembly, after correcting the formulations made to the document by the Executive, passed in third debate Project 308, which adds provisions to Decree Law 9 of 1998 on the Banking System in Panama, the legislative body informed last September 30.
In the last few months, interest in credit cards has been increasing in the digital environment, a rise that is mainly explained by the behavior of consumers in Panama, Honduras, El Salvador and Costa Rica.
Through a system monitoring changes in consumer interests and preferences in Central American countries in real time, developed by CentralAmericaData, it is possible to project short and long term demand trends for the different products, sectors and markets operating in the region.
In the second quarter of the year, interest on vehicle loans fell considerably, but in recent weeks in the region's markets the outlook changed and the number of interactions associated with the issue increased among consumers.
Through a system that monitors changes in consumer interests and preferences in Central American countries in real time, developed by CentralAmericaData, it is possible to project short and long-term demand trends for the different products, sectors and markets that operate in the region.
Suspension of contracts, uncertainty about the economic future and reduction of salaries, are some of the factors that have affected the banks in Panama to place fewer loans in this context of health crisis.
The amount of new loans granted by Panamanian banks was $589 million during May this year, a 26% reduction compared to what was reported in April 2020.
In order to attend with greater agility, now in Panama the Superintendence of Banks will be able to manage via e-mail the claims submitted to it.
To speed up the processes for the attention of claims before the regulatory entity, the Board of Directors of the Superintendence of Banks of Panama (SBP), approved Agreement No. 8 -2020 of July 16, 2020, which amends Articles 8 and 13 of Agreement No. 3-2008.
The current business scenario ended up breaking down several barriers, and now there are more customers who demand the online services of financial institutions, which are challenged to facilitate digital processes and in turn apply strict security standards.
In the last four months, in most Central American cities, bank clients have moved away from the bank's service points, because between the home quarantines decreed due to the spread of covid-19 and the preference to avoid attending places where large numbers of people can congregate, consumers are choosing to look for ways to carry out transactions digitally.
In the countries of the region, more than 8 million people are looking for credit on the Internet. Of this group of consumers, approximately 9% explore options for taking out a student loan.
The interactive information system developed by CentralAmericaData monitors in real time the changes in consumer habits in all markets of the region, with fundamental information to understand the new commercial environment that has emerged in an accelerated manner.
A law was published in the Official Journal establishing a moratorium on loans granted by banks, cooperatives and finance companies, both public and private, until December 31, 2020, for natural and legal persons affected by the pandemic.
The law promulgated on July 1 in the Official Journal, states that the benefits of the moratorium will be available to persons whose employment contract has been suspended or terminated, independent workers and traders whose activity has been affected by the health measures applied by covid-19.
At a regional level, nearly 16 million people are looking to purchase financial services online. Of this group of consumers, approximately 11% are exploring options for acquiring a credit card.
The interactive information system developed by CentralAmericaData, monitors in real time the changes in consumer habits in all markets of the region, with fundamental information to understand the new commercial environment that has emerged in an accelerated manner.