Mercantil Banco Chooses Cyberbank Digital from Galileo to Embrace Digital Transformation

5/6/25 9:00:00 AM ET

Finance: Consumer Services

Finance

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Cyberbank, the next-gen digital platform from Galileo, will enable Mercantil Banco to transform its digital presence and customer experience for both consumer and corporate clients

Galileo Financial Technologies, SoFi Technologies, Inc.'s Technology Platform (NASDAQ:SOFI), today announced a partnership with Mercantil Banco, S.A. to spearhead a new era of digital banking. By leveraging Galileo's cutting-edge Cyberbank Digital platform, Mercantil Banco will accelerate product innovation, elevate customer experiences, and introduce a suite of next-generation service offerings.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250506815208/en/

This collaboration will transform how Mercantil Banco connects with its customers by delivering a secure and flexible digital banking experience through Cyberbank Digital. The platform allows Mercantil to offer personalized, mobile-ready services that improve customer satisfaction and streamline operations. Its adaptable design lets the bank quickly evolve without major system overhauls—helping it stay competitive in a fast-moving market.

"We are incredibly excited to announce this partnership with Mercantil Banco," said Derek White, CEO of Galileo Financial Technologies. "Our mission is to transform digital banking and revolutionize customer experience. With Cyberbank Digital, Mercantil Banco will be able to offer cutting-edge services that meet the needs of its customers in an ever-evolving digital environment."

"This agreement not only strengthens our presence in Latin America, but also solidifies our position in Panama, where Mercantil Banco becomes our fourth client. We are committed to providing exceptional support and fostering a collaborative environment that drives innovation and efficiency at Mercantil Banco," said Lily Mendia, Galileo's Head of Global Banking Sales, Latin America and the Caribbean.

The announcement marks the beginning of a strategic partnership to develop and roll out the next generation of Mercantil Banco's consumer and corporate offerings, based on a shared commitment to innovation, deep levels of personalization, and enhanced customer experience.

Elsy Herrera, Vice President of Technology and Digital Transformation at Mercantil Banco, added: "We chose Galileo for their proven track record, robust platform and the flexibility that Cyberbank Digital offers. The ability to leverage the product, while also having the extensibility to continuously innovate, was a decisive factor. We are confident that this platform will significantly improve our customers' experience, allow us to quickly adapt to market needs and offer a superior digital banking experience."

This long-term partnership also ensures ongoing support, constant innovation, and the flexibility to adapt as market needs evolve, positioning the bank to deliver superior services and drive sustainable growth.

"This agreement is a testament to our commitment to innovation and excellence in digital banking. We are proud to work with Mercantil Banco to transform its digital presence," added Leo Andres, Sales Director for the Southern Cone at Galileo Financial Technologies.

About Mercantil Banco, S.A. is a banking institution that is part of Panama's financial system. It is a subsidiary of Mercantil Servicios Financieros Internacional (MSFI), a financial holding company listed on the Panama Stock Exchange under the ticker symbols MSFIA and MSFIB.

MSFI includes Mercantil companies in Panama: Mercantil Banco, Mercantil Seguros, Mercantil Reaseguros, and Mercantil Servicios de Inversión, which together offer a comprehensive portfolio of banking, insurance, and wealth management products and services. MSFI also includes Mercantil Bank in Switzerland and Mercantil Bank in Curaçao. Mercantil has 100 years of experience and has built a strong presence across 9 countries in the Americas and Europe throughout its history.

About Galileo Financial Technologies

Galileo Financial Technologies, LLC and certain of its affiliates collectively comprise a financial technology company owned and operated independently by SoFi Technologies, Inc. (NASDAQ:SOFI) that enables fintechs, financial institutions, and emerging and established brands to build differentiated financial solutions that deliver exceptional, customer-centric experiences. Through modern, open APIs, Galileo's flexible, secure, scalable and fully integrated platform drives innovation across payments and financial services. Trusted by digital banking heavyweights, early-stage innovators and enterprise clients alike, Galileo supports issuing physical and virtual payment cards, mobile push provisioning, tailored and differentiated financial products and more, across industries and geographies.

Galileo Financial Technologies, LLC is a technology company, not a bank. Galileo partners with many issuing banks to provide banking services in North and Latin America.

View source version on businesswire.com: https://www.businesswire.com/news/home/20250506815208/en/

Katie Boyless

The Fletcher Group for Galileo Financial Technologies

404.791.8245

[email protected]

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