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The recent collaboration between Caja de Ahorros and Yappy, driven by Andrés Farrugia, the general manager of the state bank, marks a significant advance in the digitalization of the financial system in Panama. This alliance will allow more than 600,000 Caja clients and 55 public institutions to manage their payments quickly, securely, and traceably, thereby redefining the role of public banking in the digital age.
Farrugia emphasized the significance of this initiative, describing it as a “structural leap” in the relationship between the bank and the community. Through the Yappy app, users will have the ability to make payments to various institutions, such as the Passport Authority and the Ministry of Culture, in a completely digital manner. This will not only simplify administrative processes but also enhance the traceability of transactions.
The integration of this technology aims to reduce waiting times while promoting transparency in public management. Farrugia stressed that a platform is being offered that is designed to “do more, but also to do better.”
This move is part of Project Z, a comprehensive innovation plan that includes the modernization of online banking and the automation of commercial treasury. ANDREA, a virtual assistant that has handled over a million inquiries and has been recognized for its innovation in Latin America, has also been implemented. With a total of 1.6 million active users on Yappy and 35,000 affiliated businesses, Caja de Ahorros establishes itself as the most digitally advanced public entity in the country.
From Yappy, commercial director Yolianna Alfaro also highlighted the significance of this partnership, which aims to create a more inclusive and accessible payment ecosystem. “We are excited to add Caja de Ahorros to our network,” she stated.
In conclusion, Farrugia reaffirmed that true innovation resides not only in technology but in closing gaps and making life easier for citizens. Through this collaboration, Caja de Ahorros seeks to establish itself as a driver of digital transformation and inclusion, aligning the financial system with the real needs of the Panamanian population.
Referrer: MiMub in Spanish
