Sunday, April 18, 2010

Banco Nacional de Panama budgets US$21 million for new core banking system

Panama has no central bank to issue currency but it does have a government-owned bank called Banco Nacional de Panama which acts as clearinghouse for checks and provides dollar bills to the rest of the banking system. It has the largest amount of assets but incredibly enough the bank has no e-banking facility. These and other information technology shortcomings are the reason why a new 433-page RFP has been issued for a the installation and set up of core banking system ("SUMINISTRO DE LICENCIAS, INSTALACION, ADECUACIÓN, MIGRACIÓN Y PUESTA EN MARCHA DE UN SISTEMA INTEGRADO DE GESTIÓN BANCARIA (CORE BANKING), INTERFASES CON OTROS SISTEMAS, REPORTES Y ÁTOMOS PARA LA SUPERINTENDENCIA DE BANCOS Y OTRAS REGULACIONES, A SER UTILIZADOS EN EL BANCO NACIONAL DE PANAMÁ, BANCO DE DESARROLLO AGROPECUARIO Y BANCO HIPOTECARIO NACIONAL"). A reference price of US$21,000,000 has been set with US$15.6 million for the Banco Nacional branches and the rest for the Banco de Desarrollo Agropecuario and Hipotecario Nacional lending institutions.

21 companies have shown interest so far. The deadline for formal offers from qualified companies is April 29, 2010, noon. The full terms are listed in the Panamacompra government procurement website.

21 companies interested in Banco Nacional procurement of computer systems

Banco Nacional de Panama looks for a new core banking system

30 March 2010
IBS Journal - News Banco Nacional de Panama has published an RFP for a core banking system. This is not the first time the bank has done so. Just over a year ago was the last time it initiated a selection process for a replacement core, but that effort ended unsatisfactorily, with no system able to meet the exceptionally high standards demanded by the bank – so high that only one vendor, Indra, even made a bid (IBS, End of year review 2009).
Vendors may be forgiven for approaching this particular selection process with trepidation, but the feeling appears to be that the bank desperately needs to settle on a replacement this time. ‘We really believe that this time the bank will choose a core system, since its technology situation is in bad shape’, says one source involved in the process. ‘The core is so outdated that the bank can’t open new branches or offer new services.’ The bank has not responded to IBS’s approaches.
Labels: Core Banking Systems, Problem Projects

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