MANZANILLO INTERNATIONAL TERMINAL (MIT) is a container port located east of the Panama Canal entrance in Manzanillo Bay, on the Atlantic Ocean. MIT plays a crucial role in the global cargo handling system due to its strategic location and its involvement in the transportation network of the world’s major shipping lines. This port terminal connects approximately 125 countries through container transshipment operations.
GLOBAL BANK is a 100% Panamanian-owned bank that began its operations in 1994. Originally conceived as a purely corporate bank, it expanded its vision to become a significant player in the financial sector. In 1999, it acquired 100% of the stock of Colabanco, becoming the first banking group.
Since 1999, GLOBAL BANK has consistently experienced higher growth rates compared to the industry average. In 2019, it acquired Banvivienda, expanding its customer base to over 200,000 clients and strengthening its position as a financial institution.
GLOBAL BANK faced difficulties in tracking and managing customer compliance notifications and alerts. Additionally, manual report generation and slow data updates caused delays and missed alerts.
NOVIX implemented a system for Global Bank using the PYPLAN Platform, which allowed them to:
- Consolidate and automate compliance alert information, ensuring consistency across managers and account officers.
- Double the productivity of analysts in addressing alerts/notifications, reducing response times.
- Reduce the number of overdue alerts by 90%.
- Reduce report generation times for internal stakeholders (executives) and external entities (regulatory authorities).
According to Agusto Arosemena, Senior VP of Compliance at Global Bank, “Innovation is a fundamental component in our compliance area. The new monitoring tool with Pyplan allows us to prioritize and manage alerts in ways we have never seen before.”
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